CEO fired, rehired, then fired everyone else
Raised $2.3B to digitize freight forwarding. Then the governance circus began: the board replaced Ryan Petersen with a former Amazon exec, who lasted 6 months before Petersen staged a comeback coup . Post-coup, Petersen laid off 20% of the company and pivoted strategy. Valuation cratered from $8B. The boxes keep moving, but nobody knows where this ship is headed.
Satirical project. Not affiliated with Y Combinator. All information from public records.