November 17, 2024 6:16 am
Facebook Twitter Youtube Instagram Linkedin
Rose Law Group

Bezos-backed Convoy, once valued at $3.8B, shuts down; closing part of an emerging trend, says Shruti Gurudanti, Rose Law Group partner and director of corporate transactions

By Spencer Soper, Lizette Chapman, Bloombert | Fortune

Convoy Inc., a Seattle-based trucking startup whose investors include Jeff Bezos and Bill Gates, is closing down its business after a four-month search for an acquirer failed, its founder and Chief Executive Officer Dan Lewis told employees in memo Thursday informing them, “Today is your last day at the company.”

“Following an exhaustive process, spanning many, many months during which we explored all viable strategic options for the business, the result is where we are today,” Lewis wrote. “Convoy is closing the doors on its current core business operations and exploring and evaluating strategic options for what might come next.”

READ ON:

“A deteriorating market for VC fundraising means there will be a lot of companies up for sale in 2024, and likely at a price lower than their last valuation.” – Shruti Gurudanti, Rose Law Group Partner, Director of Corporate Transactions

Share this!

Additional Articles
News Categories

Get Involved

Stay Informed

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

learn more

Recent Articles

Post Calendar

October 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
Rose-Law-Group-RCF-Logo-FINAL-LG-png.png
Facebook Twitter Youtube Instagram Linkedin
© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.