The historical origin of FedEx

FedEx was founded in Little Rock, Arkansas, in 1971 by former U.S. Marine Frederick W. Smith, but moved to Memphis, Tennessee, in 1973 because Little Rock airport officials refused to provide facilities for the company .

After FedEx moved to Tennessee, it provided services to 25 cities. However, it encountered difficulties and suffered serious losses in the early stage. But a few years later, business began to improve, and by July 1975, the company turned a profit for the first time. In 1978, FedEx officially went public.

Federal Express currently serves 3 million customers in 210 cities every day. Its main competitors include DHL, UPS and USPS. The venture capital of US$96 million incubated FedEx, which also set a single investment in the history of the United States. highest record.

In April 2013, FedEx planned to begin cutting capacity to and from Asia

If FedEx had failed, people would not have seen the unprecedented prosperity of today's venture capital market. While the venture capital market will still exist, it will be far less active.

According to news on April 27, 2013, FedEx recently built a second parcel processing station in the Grossbeeren district of Berlin, Germany, further strengthening the company's market position in the region. The new processing station employs 20 people and is responsible for parcel collection and delivery, route planning and related administrative work.

Creating a Monument

Fred Smith took a huge risk and invested $8.5 million of his entire fortune in FedEx, but this was far from enough. In order to raise huge funds, he tried his best to lobby Wall Street's big bankers and investors, raising US$96.44 million, setting a record for a single investment in the history of the American corporate world.

After entering the 1960s, the U.S. economy became increasingly dependent on the service industry and high-tech industries, which transported raw materials from raw material bases to large factories through railways, roads, and even canals, and then made them by workers. The era of bulky industrial products is quietly disappearing. Many companies that make lightweight, expensive products no longer rely on proximity to the source of raw materials, and technicians, scientists, and managers have become the rarest commodities in the economic structure. Therefore, many companies are locating their enterprises in places that can attract scientists, technicians and managers, such as places where cultural enjoyment, higher education, entertainment and environmental atmosphere are suitable for their interests. The factory's manufacturing equipment can be located in San Francisco, Boston, the suburbs of New York, or in the Bahab Islands.

This new industrial layout has caused the dispersion of personnel and products, and also brought about a new problem, that is, how to deliver various information and goods quickly, safely and reliably, especially for certain These are high-tech products that are highly time-sensitive. Although much information can be transmitted via electronic devices, goods such as drawings, documents, tapes, disks, and small electronic components cannot be delivered to their destination via telecommunications services. For companies engaged in technology or companies that rely on information, traditional postal delivery and freight companies are far from meeting their requirements in terms of reliability and timeliness. Therefore, in the U.S. transportation market, there is an urgent need for a company that can ensure the rapid and reliable delivery of goods. This is the challenge of the times, and it is also a rare opportunity. However, the person who keenly discovered this opportunity, bravely accepted the challenge, and firmly grasped the historical opportunity was the famous American entrepreneur Fred Smith, known as the "Father of the Overnight Express Industry." Just as Henry Ford saw the desire of many people to live in the suburbs and introduced affordable automobiles in time, Fred Smith pioneered the new service industry of "overnight delivery" in American history.

In 1962, Fred Smith was admitted to Yale University. In college, he foresaw the third wave of the American Industrial Revolution with the potential qualities and unique intuition of an outstanding entrepreneur. It is maintained by computers, microprocessors and electronic equipment, and the maintenance of these equipment relies on the timely supply of low-volume and expensive components and parts. Relevant letters, packages, and inventory lists also need to be obtained as soon as possible. He believed it was necessary to create an overnight delivery service company. Fred Smith wrote his ideas into a paper. However, his professor believed that although many of the ideas in the paper had some merit, they were not feasible.

First, federal regulation of air freight routes would hamper such service; additionally, competition from established airlines that already use passenger routes to carry packages would prevent such a service from being successful; and, the enormous investment required to provide such a service would Funding is unaffordable for any new company. However, Fred Smith’s original intention of starting an overnight delivery company never wavered.

In 1966, Fred Smith graduated from Yale University with a bachelor's degree in economics. After graduation, he enlisted in the U.S. Marine Corps and served in the Vietnam War. In July 1969, Fred Smith left the service after two years of service. He received a Silver Star Medal, a Bronze Star Medal, and two Purple Hearts. The experience on the Vietnam battlefield made Fred Smith face unprecedented death and danger in the humid and hot Vietnamese jungle, with temperatures as high as 120 degrees Fahrenheit; the Vietnam War experience cultivated his tenacity to cope with the possible failure of business operations; the Vietnam War experience taught him How he manages and motivates people. Fred Smith, who experienced the Vietnam War, once said: "I was so disgusted with destroying and blowing things up that when I came back, I wanted to do something constructive." David Silver, an American venture capital capitalist, said in "Enterprise" "The Rich" pointed out: "The experience in Vietnam enabled Smith to know the dangers just by intuition, and perhaps it enabled him to take risks."

In 1969, after Smith returned to the United States from the Vietnam battlefield, First, he purchased an aircraft maintenance company called Arkansas Airlines and turned it into an exchange center for acquiring and selling old aircraft. He made a profit of US$250,000 in two years. But Smith was far from satisfied with such success. The idea he came up with in college to deliver small packages overnight has always stuck with him. He first entrusted a consulting company to conduct research and investigation on the situation and prospects of the transportation market. Based on the existing postal status of the United States provided by the consulting company, Smith further proved that this area has huge potential.

Fred Smith had a characteristic instinct for foreseeing the importance of an overnight delivery service.

According to the findings of the consulting firm, Fred Smith immediately began to create an "overnight express" company that could truly adapt to the development trend of the high-tech era. On June 28, 1971, "FedEx" was officially established. Its headquarters was located at the old site of Little Rock. A large slogan reading "Welcome Customers" was hung in the company office.

After the company was officially established, Fred Smith actively worked hard to win the first big customer and sought to sign a service contract with the U.S. Federal Reserve System. For this first business, he tried his best, spent countless nights and all-nighters researching, traveled back and forth between New York and Washington countless times, and spent hundreds of hours talking to those "official people." Interpretation, communication, coordination.

In Fred Smith’s view, the overnight delivery he provides can save the other party a lot of money and time. The benefits are obvious. The other party has no reason to refuse this service. He firmly believes in this business. It can definitely be done, and the company will even be named "FedEx Corporation." While negotiating with the Federal Reserve, Fred Smith had confidently purchased two Dassault Hawks equipped with turbofan engines from Pan Am. He believed in the words of the sage Plato: "If wealth is used wisely, it will bring endless blessings to mankind." Fred Smith personally invested US$350,000 and a family trust fund provided a bank loan of US$3.6 million. In order to obtain a guarantee, the purchased passenger aircraft was converted into a cargo aircraft suitable for transporting packages.

However, Fred Smith never dreamed that a few weeks later he would get the news that the Federal Reserve System refused to accept the "overnight express" service. The Federal Reserve Board responsible for supervising the Federal Reserve System officially Notify FedEx Corporation of the denial of FedEx's application to provide "overnight express" service to the Federal Reserve System. The reason was that individual regional banks within the Federal Reserve System did not agree with Fred Smith's recommendations. For a long time, within the Federal Reserve Bank system, banks in various regions have stood on their own, and have formed their own spheres of influence through years of hard work. Although using airplanes to express bank notes overnight can save time and money for the system, it has blocked too many As for human financial resources, many people rely on the original work process to survive. If a new method is to be used to deliver bills, what should be done with the vested interests of these people.

The plan to use aircraft to express notes for the Federal Reserve System failed completely. The two specially purchased aircraft were idle in the hangar and could not move. Reid Smith faced a heavy blow from losing the first game. However, the reason why Fred Smith is worthy of being hailed as one of the most accomplished entrepreneurs of our time is precisely because he showed an indomitable fighting spirit, outstanding leadership skills and extraordinary ability in the face of any difficult and dangerous environment. Wisdom, as one FedEx employee said: "In the first three or four years after FedEx was founded, it would have gone bankrupt five or six times, but Fred Smith wouldn't give up. He was such a relentless person. With unlimited confidence in the future and full courage, he created miracles.”

FedEx Group (FDX) released its latest financial report on Wednesday, showing that the company’s revenue increased by 4% in the third fiscal quarter of this year. , to US$11 billion, but net profit fell by 31%, achieving a profit of US$361 million, and adjusted profit was lower than market expectations. According to data released by FedEx, if China's infrastructure and port management levels are raised to half of the world's best levels, it will drive the rapid development of the logistics industry and contribute US$2.6 trillion to world GDP. It is equivalent to a contribution rate of 4.7% to world GDP; it will add 1.6 trillion US dollars in new exports to world trade, equivalent to a contribution rate of 14.5% to world trade volume, which is far higher than what the world can achieve with zero tariffs.

Conquer

Fred Smith’s incisive and unique analysis of the express delivery service market as well as his hard work, his confidence, his extraordinary leadership ability, and his rare His courage and courage, especially his courage and adventurous spirit to invest all his wealth in FedEx, conquered countless shrewd and cunning venture capital masters and conquered the US$96 million in their pockets.

Fred Smith was not deterred by the overwhelming opposition. He continued to achieve his goals with the courage and method of an outstanding entrepreneur who dared to innovate and take risks. As he said himself, He must innovate, if only to survive. From 1972 to early 1973, Fred Smith invested US$75,000 to form a senior advisory group composed of experts, pilots, technicians, advertising agencies, etc., to conduct in-depth market research again. Through a more in-depth feasibility analysis of the market potential, they clearly found that with the rise of emerging technologies, the traditional industrial towns in the United States are declining, while those little-known small places are rapidly rising and becoming emerging industrial and commercial centers. The old freight tradition of running hundreds or thousands of kilograms from one industrial area to another is changing. The checked items are small packages, but they are more timely than before. People consign things as small as a switch, a rubber tube or a blueprint. Fred Smith reworked the business plan based on the market conditions he reinvestigated, but this plan proved the point made by his university teacher in his paper: "The huge capital required to provide this kind of service is beyond the reach of any new start-up company." It is unaffordable. "The new business plan is much more complicated than the original plan and requires a large amount of capital investment. First of all, it must have a certain number of transportation vehicles-airplanes and cars, and it must also establish a service network and open multiple channels across the country. aviation line. At this time, Fred Smith showed the rare courage of an entrepreneur and decided to invest all 8.5 million US dollars of his family fortune in FedEx. Then, he tried his best to invest in the big bankers and big investors on Wall Street. Businessmen lobby. Fred Smith's incisive and unique analysis of the express company market, as well as his efforts, his self-confidence, and his extraordinary leadership ability, especially his courage and adventurous spirit to invest all his wealth in FedEx, gave him a great reputation. These private investors were extremely impressed. Several large companies, including Wanchang Insurance Company and Citi Venture Capital, have successively invested in FedEx. Soon, he raised $96 million, setting a record for the highest single investment of capital in the history of corporate America.

It was Smith's extraordinary entrepreneurial feat that impressed venture capitalists. The injection of $96 million in venture capital made it possible for Smith to move towards his goal.

Most entrepreneurs do not have enough funds to start new companies, and must seek external funds. They often borrow from relatives and friends first, and then seek loans from industrial and commercial associations, banks, and other institutions. . For most high-tech entrepreneurs, due to the high risk and lack of collateral that can be secured, traditional lending institutions will not provide funds unless the new company's performance or orders show signs of success. Therefore, most of the next people entrepreneurs look for are venture capitalists.

Entrepreneurs usually propose business plans to one or more venture capital companies through friends or associations. If a business plan seems to be very feasible, the venture capital firm will interview the entrepreneurial team and obtain information about the entrepreneur and innovation through informal intelligence networks.

Perseverance

FedEx is one of the great entrepreneurial stories of the second half of the 20th century and a miracle of venture capital.

After receiving venture capital, the first thing Fred Smith did was to purchase another 33 Dassault Eagle aircraft because the aircraft was small and did not require approval from the Civil Aeronautics Commission. To apply for a license, the consulting firm also provided him with a large pool of managers familiar with the air freight business. Everything was ready, and in April 1973, FedEx officially opened for business.

FedEx initially provided services to 25 cities, but disappointingly, only 186 packages were delivered on the first night. In the 26 months after it started operating, FedEx lost $29.3 million and owed creditors $49 million. FedEx was in danger of going bankrupt at any time. The company's early supporters backed down and refused to continue. invest. This was the most difficult period for FedEx. As Fred Smith himself said: "No one in the world can know what I experienced that year (1973). The pain that year caused me was so great." Well, there was so much stress, so much going on, so much travel, so many meetings with investment bankers, General Dynamics, and hundreds of different people in Memphis. , and at the same time, I had to work hard to manage a company. "During the most difficult period of the company's start-up, Smith attracted Federal Corporation with his indomitable spirit, unlimited confidence in the future, and full courage, as well as his charismatic leader. employees, making them willingly hand over their interests and future to the company, and work together with Fred Smith to tide over the difficulties.

In July 1973, Fred Smith went to Chicago to raise funds in an attempt to secure a much-needed additional investment from General Dynamics, but was rejected. Fred Smith returned to Memphis in disappointment. While he was waiting in frustration for a plane from Chicago to Memphis, he impulsively boarded a plane to Las Vegas. He wanted to try his luck there. Fred Smith, who carried a few hundred dollars with him, played blackjack at the gambling table and won $27,000. This was one of his dramatic personal ventures. He invested a few hundred dollars and won. The amount he got back was US$27,000, which shows that the entrepreneur was still so short of funds that he used the money he won from gambling to pay wages to his workers. In order to pay off the company's debts, he sold his private jet and even forged a lawyer's signature to withdraw money from the family trust fund that belonged to his two sisters. His two sisters were furious when they found out, and in January 1975, he was prosecuted and taken to court. It was his second dramatic personal venture, one involving the danger of his own trial and imprisonment. During the trial, he admitted that he forged a lawyer's signature to obtain a bank loan and defended himself by saying: "At that time, I felt that I was Smith Enterprises, which is obvious. And I think my two sisters thought so too. ” Smith was acquitted in December 1975.

In order to improve its operating conditions, Fred Smith tried his best to win over customers and expand the market. In order to obtain a contract from the U.S. Administration, FedEx opened 6 routes in the West. In competition with other companies In the process, he set the price so low that people doubted whether there was still profit.

But Fred Smith focused on longer-term interests. He believed that although this business did not have high profits, it could be used as the face of the company. The company could use this business to say to the outside world: "Look, We can even get the contract from the Postal Service, so why not worry about FedEx’s services? This will not only reassure investors, but also win more users.”

It may be true. "God rewards those who work hard", FedEx, struggling in difficult times, encountered unexpected good luck. First, the government lifted restrictions on the air transportation industry, which greatly increased the transportation volume of the freight industry. Due to the sudden surge in demand for commercial transportation, major domestic freight agencies are overwhelmed with business in big cities and simply have no strength to meet the requirements of small cities. This provides FedEx with a major market gap and reduces its business volume. Increased quickly. Another piece of good luck was that in 1974, a long strike by United Parcel Service employees finally bankrupted Railroad Express. Both events provide FedEx with good opportunities to grow its business and improve its condition.

In 1975, the company's operating conditions began to improve. July was FedEx's first profitable month. The company made a profit of US$55,000, and its operating income that year reached US$75 million. At this time, FedEx already had 31,000 regular customers. FedEx delivers parts, plasma, transplants, pharmaceuticals and everything else that needs to be delivered quickly to customers across the country. FedEx Express provides overnight express services in 130 cities and 75 airports. FedEx's purple planes carry countless packages on routes to all parts of the country every night. In 1976, FedEx achieved a net profit of US$3.5 million; in 1977, its annual operating income exceeded US$100 million, with a net profit of US$8.2 million. FedEx finally got out of the woods and worked wonders. In 1977, Fred Smith was selected as one of the top ten outstanding entrepreneurs in the country by a New York magazine and praised "In just 5 years, his innovative marketing system and successful public image made him go from having nothing to becoming a rich man." "A big entrepreneur with a turnover of US$110 million and a net profit of US$8.2 million." In August 1978, "The Knight" published an article that he still stood firm in the face of difficulties and relied on his indomitable will and fighting power to resist the obstacles that blocked his way forward. Regardless of any adversity, his outstanding performance is not only a role model for entrepreneurs, but also something that each of us should imitate. "The article pointed out: "What the venture capitalists who invested in Smith valued was his indomitable spirit. ”

The company’s stocks are listed on the market, and FedEx ranks first among the world’s air cargo companies. The venture capitalists who hold shares have begun to calculate their profits, and the profits are constantly changing, because the stocks Continuously adding value

Starting a revolution

Fred Smith’s pioneering overnight express service set off a corporate revolution around the world, changing the way people do business. From then on, companies could stay away from the city center.

By the late 1980s, FedEx was still developing at this rate and firmly ranked as the leading company in the overnight express delivery industry in the United States. The express company has provided overnight express services to 90 countries and regions around the world; in 1989, it acquired its largest competitor: Feihu International Company. This acquisition war may be more risky than the United States' war in Vietnam.

As the leading adventurer in the American business community, Fred Smith's adventurous spirit will never disappear. After entering the 1980s, he regarded the internationalization of FedEx as his greatest wish. In 1989, when he announced. When Fred Smith acquired FedEx's biggest competitor, Feihu International, which entered the air cargo field 20 years before FedEx, everyone was surprised. This was Fred Smith's largest acquisition to date. It caused an unprecedented strong response in the American business community and public opinion circles. The American "Business Week" called Fred Smith's latest acquisition "the biggest gamble so far". Some industrial analysts also praised Fred Smith. They questioned Fred Smith's sanity at risking an existing business for a troubled, troubled enterprise.

The evidence they presented is that Feihu is a company with great traditional power and is conservative, while FedEx is a company full of innovative spirit. FedEx’s fanatical ambition and unconstrained attitude are different from Feihu. The boss-style, pampering attitude of the company is in stark contrast. Many opponents of the acquisition of Flying Tiger predicted that the acquisition of Flying Tiger would put Fred Smith in a difficult position. Even Bernard Lalonde, Fred Smith's industrial consultant, told him: "This merger must be treated with the same caution as two porcupines mating. FedEx is playing a game with high stakes and high risks." Big Casino." It was widely believed that a merger between Federal and Flying Tigers would not work given their differences. Opponents of the merger say a FedEx-Flying Tiger merger would make things more difficult for Fred Smith than he expected. However, Fred Smith was not intimidated by these predictions. He firmly believed that this acquisition would make FedEx a preeminent, worldwide air cargo company. He pointed out: "There is no doubt that this is a major challenge. I don't think this is an action that uses the company as a bet. As a result of this acquisition, we have obtained a lot of hard assets."

Fei Tiger International is the world's largest heavy-weight freight company. It was founded by several wartime pilots after World War II. After the establishment of the company, its business volume continued to increase and its profits became more and more. It is an American airline. One of the companies with the strongest freight forwarding capabilities. By 1988, Feihu Company had 22 Boeing 747 aircraft, 11 Boeing 727 aircraft and 6 DC-8 aircraft, 6,550 employees, and annual operating income of US$1.4 billion. In the unprecedented fierce competition in the air cargo market, Feihu Company still maintains its style as the industry leader despite the emergence of strong competitors one after another. Various problems in the company's management are becoming increasingly serious, and financial expenditures are lavish. However, the machinery and equipment are getting older and older, and the employees have developed the bad habit of being pampered. They continue to demand salary increases under the leadership of powerful labor unions. Finally, in 1984, Feihu Company's financial report showed a deficit for the first time. At this time, Fred Smith immediately made a request to Flying Tiger Company to purchase all of the company's routes, but was rejected.

After the acquisition of Feihu Company failed, Fred Smith quickly acquired Melco Express. This company's service network covers more than 80 countries and regions around the world. After the acquisition was successful, Federal Express delivery business extends to the Netherlands, the United Kingdom, the United Arab Emirates and other regions. However, Fred Smith was very dissatisfied with such an acquisition. He believed that the speed was too slow. He repeatedly emphasized to the company's board of directors: If by 2000, FedEx has not expanded its footprint to other parts of the world, Then the company's prospects can only be "flash in the pan", and if we want to quickly realize the internationalization of FedEx, buying Flying Tiger Airlines is the only effective way.

Finally, Fred Smith had his chance. Saul Stamper, the largest shareholder of Flying Tiger International Airlines and chairman of Reliance Financial Services, announced at the end of 1988 that he had acquired 83% of the shares of Flying Tiger that were not in his name. Hearing that someone was going to acquire Feihu Company, Fred Smith immediately joined the competition. He ensured the success of the acquisition at a price of US$20.88 per share, which was US$6 higher than the market price of Feihu Company's stock.

The most attractive thing about Feihu International Air Cargo is the international routes it has painstakingly established over the past 40 years. At that time, Feihu claimed to have had air and landing rights in 21 countries for more than 45 years. It is precisely because of this that Feihu Company has become the world's largest heavy-duty freight company. More than half of all its transport aircraft are Boeing 747 large transport aircraft, and their aircraft can fly over five continents. In Fred Smith's view, the air rights and airport landing rights owned by Flying Tigers cannot be purchased at any time. Before acquiring Flying Tiger, FedEx had only five landing rights at foreign airports: Montreal, Toronto, Brussels, London and Tokyo. After acquiring Feihu International Air Cargo, FedEx can have flight and landing rights in Paris, Frankfurt, three Japanese airports and many cities in East Asia and South America owned by Feihu.

After acquiring Flying Tiger, FedEx no longer has to transfer operations in many countries to other airlines because it has no landing rights. It can directly use its own aircraft to transport goods on these routes, thereby greatly improving FedEx's overseas business conditions provide important conditions.

However, after the acquisition of Feihu Company, FedEx was saddled with a huge debt, and the improvement of overseas business conditions was not as good as expected. FedEx’s international express services have always been It was losing money, with a loss of US$74 million by 1989. In addition, the heavy cargo [font color=#0049d3]air[/font] company "Flying Tiger Cargo" under Feihu International Air Cargo Co., Ltd. has also given Federal Express a foothold in the heavy cargo industry, as one analyst Experts say: "FedEx's method of sending small packages abroad using large planes is tantamount to suicide. Now FedEx can put small packages around Feihu's large containers and use DC-DC for overseas transportation. The Type 10 large aircraft were redeployed and used on domestic routes with large transportation volumes. "

After entering the 1990s, FedEx faced more intense competition in the domestic express delivery market. In the competition, its market share has always maintained a leading position. From late night to early morning every day, FedEx transports parcels from all over the world, accounting for almost 3/4 of the total number of parcels. When people think of express delivery, the first thing that comes to mind is FedEx.

FedEx's foreign business did not improve significantly after the acquisition of Flying Tiger International Airlines. Continued losses and the increased debt from the acquisition of Flying Tiger Airlines caused the company's profits to decline. FedEx's operating income rose from $5.2 billion in 1989 to $7.69 billion in 1991, but profits fell from $420 million in 1989 to $279 million in 1991. Industrial analysts are divided over whether FedEx can make its foreign operations profitable. Opponents say the Flying Tiger acquisition is a bad decision, while Fred Smith believes that as FedEx overseas As business volume continues to rise, foreign business will eventually be profitable.

Fred Smith admitted that the acquisition of Flying Tiger may be the biggest adventure in his life, and the company has increased its debt by US$140 million, but the ones developed by Flying Tiger Airlines have a 40-year history international routes will help FedEx become one of the world's leading companies.

In the history of the development of American enterprises, FedEx is one of the fastest growing companies and a representative of the enterprising and innovative spirit of enterprises. The December 1979 issue of Happiness magazine called FedEx one of the "ten most successful companies of the 1970s." "Dun's Business Monthly" called FedEx one of the "five best-managed companies in 1981." FedEx has also been named one of the "100 Companies with the Best Working Conditions in America." In 1990, FedEx won the prestigious "Malcolm Baldridge Award" for service excellence. FedEx was the first service company in the history of the United States to win this award.

Ted Turner's innovation influenced the global television news industry, and Fred Smith's innovation changed and affected business operations to the same extent. From then on, enterprises can be located far away from the city center and in more remote areas without even building a special warehouse in the factory area.

Wide business changes and business opportunities became possible thanks to Fred Smith's "absolute certainty of overnight delivery" of parcel mail anywhere in the world. These new global changes and business opportunities have transformed the business world and will ultimately affect the balance of global economic power. A key factor in these global changes was the charismatic Fred Smith, who is known as the "Father of Overnight Express" for pioneering and founding the overnight express service.

In the history of American business, FedEx is one of the largest companies founded by venture capital, making the company's success an entrepreneurial miracle. An article titled "Purple Light Shines on the Earth" in the "Memphis Business Journal" pointed out: "The story of FedEx is a story of corporate growth full of ideals, impulses, capital and risk-taking." Venture capital capitalist David "FedEx is a miracle," Silver said.

One biographer called FedEx "one of the great entrepreneurial sagas of the second half of the 20th century." Charles Lee, one of FedEx's earliest and most loyal supporters, gave a higher evaluation of FedEx's success, stating: "If FedEx had failed, we would not be seeing the unprecedented activity in the venture capital market today. , although the venture capital market will still exist, it will be much less active. Even if there is no other contribution, the success of FedEx not only brought huge profits to venture capital capitalists, but also gave them the confidence to invest funds in various other companies in the 1980s, thus greatly promoting the unprecedented prosperity of the venture capital market. . It can be said that $96 million in venture capital incubated the giant FedEx. This is undoubtedly a glorious page in the history of venture capital. ”

Acquisition events

On December 16, 2014, FedEx agreed to acquire the reverse logistics company Genco. This means that FedEx is making a major move into the e-commerce field. Genco’s annual sales has a revenue of US$1.6 billion, and handles more than 600 million returned products every year.