Echo Global Logistics
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|
| Public | |
| Traded as |
NASDAQ: ECHO S&P 600 Component |
| Industry | Third-Party Logistics (3PL) |
| Founded | 2005 |
| Headquarters | Chicago, Illinois, USA |
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Key people
|
CEO: Douglas R. Waggoner Co-Founders: Brad Keywell & Eric Lefkofsky |
| Revenue | $1,716,152,159 USD (FY 2016) |
| Website | www.echo.com |
CEO: Douglas R. Waggoner
Echo Global Logistics, Inc. (Nasdaq: ECHO) is a provider of technology-enabled transportation and supply chain management services. It connects businesses that need to ship their products with carriers who transport goods, doing so using a proprietary, web-based technology platform that compiles and analyzes data from its network of transportation providers.
Echo was established as a logistics division for InnerWorkings, a web-based printing company in Chicago, Illinois. In 2005 InnerWorkings founder Eric Lefkofsky and business partner Brad Keywell expanded the logistics division into a Delaware Limited Liability Company (LLC).
In 2006 Douglas R. Waggoner became CEO of Echo, bringing with him extensive experience in the transportation industry. Waggoner had previously founded freight management software provider SelecTrans LLC, which he sold to Echo in 2006. As CEO of Echo, Waggoner has led the development of proprietary technology and algorithms to create multimodal transportation management solutions.
When Echo completed its initial public offering on October 2, 2009, its common stock became listed on the NASDAQ Global Market under the ticker symbol “ECHO.”
Headquartered in Chicago, Illinois, Echo has over 30 locations across the US. The company organically expanded by opening sales offices in Troy, Michigan; Atlanta, Georgia; Dallas, Texas; and Nashville, Tennessee.
Echo has also acquired 20 companies for their mode expertise, geographical presence, technology solutions, and cultural fit. The company’s first acquisitions of Transportation Management Group (TMG) and BestWay in 2007 in particular established a West Coast and Pacific Northwest presence for Echo.
2010 brought five acquisitions. Freight Lanes International (FLI), DNA Freight, Lubenow Logistics, Resource Group Associates (RGA), and Distribution Specialists provided Echo with an expanded presence across the US and augmented its truckload, expedited, and LTL capabilities.
Since 2010 Echo has acquired Nationwide Traffic Services, Trailer Transport Systems (TTS), Advantage Transport, Sharp Freight Systems, Purple Plum Logistics, OpenMile, One Stop Logistics, Comcar Logistics, and Xpress Solutions. Strengthening the nationwide presence of Echo, these acquisitions have also improved its technology solutions and mode capabilities, especially its skill in intermodal and temperature-controlled offerings.
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Wikipedia