Fr8App New Product Line, Fr8PrivateFleet, Gaining Traction

Rhea-AI Summary

Hudson Capital (NASDAQ: HUSN) and its subsidiary Fr8App announced the successful launch of their technology solution, Fr8PrivateFleet. This service has attracted new and existing customers, including a major food producer in Mexico. Javier Selgas, CEO of Fr8App, highlighted the platform's efficiency in matching shippers with carrier capacity, enhancing profitability for users. The daily usage of the app by carriers increases user retention and positions Fr8App as a key player in the freight market. This development indicates potential for additional revenue streams for Hudson Capital.

Positive

• Fr8PrivateFleet has secured new customers, including a large food producer in Mexico.
• The technology enhances efficiency and profitability for shippers.
• Increased daily usage of the app by carrier customers indicates strong user retention.

Negative

• None.

HOUSTON, March 21, 2022 (GLOBE NEWSWIRE) -- Hudson Capital Inc. (NASDAQ: HUSN) (Hudson) and its wholly owned subsidiary Freight App, Inc. (Fr8App), announced its recently launched technology solution, Fr8PrivateFleet, has already secured new and existing Fr8App customers, including one of Mexico’s largest food producers.

Javier Selgas, CEO of Fr8App, said, “Fr8PrivateFleet has gained traction with both new and existing Fr8App clients, including one of Mexico’s largest food producers, in a short amount of time. Our technology contributes to our customers’ success by improving their efficiency and profitability through matching shippers’ requirements with carrier capacity over time versus on a trip-by-trip basis. Shippers want these benefits and are engaging quickly, once again validating our platform. An added benefit from this product is that our carrier customers use our app on a daily basis, thus increasing the stickiness of our app over time and helping us set the standard within this important segment of the freight market. We are excited to see these opportunities start to unfold and provide an additional revenue stream to the company.”

About Freight App, Inc.

Freight App, Inc. (Fr8App), a North American transportation logistics technology company with a specialty in US-Mexico-Canada cross-border shipping, is a wholly owned subsidiary of Hudson Capital, Inc. (NASDAQ: HUSN).  Powered by AI and big data analytics, the Fr8App platform connects carriers and shippers, improving matching, increasing operational efficiency, and reducing logistics costs.  Fr8App automates the process, making transportation simple with innovative technologies, including live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions. Headquartered in Houston, Texas, Hudson Capital Inc. is doing business as Freight App, Inc. for more info please visit www.fr8.app.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Hudson Capital’s and Fr8App’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Hudson Capital’s and Fr8App’s expectations with respect to future performance and anticipated financial impacts of the acquisition.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Hudson Capital’s and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of COVID-19 pandemic on Fr8App’s business; (2) the inability to maintain the listing of Hudson Capital’s ordinary shares on Nasdaq; (3) the risk that the acquisition disrupts current plans and operations as a result of the announcement and consummation of the merger; (4) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition, the ability of Fr8App to grow and manage growth profitably, and retain its key employees; (5) costs related to the merger; (6) changes in applicable laws or regulations; (7) the possibility that Hudson Capital or Fr8App may be adversely affected by other economic, business, and/or competitive factors; (8) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (9) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (10) other risks and uncertainties identified, including those under “Risk Factors”, to be filed by in Hudson Capital’s other filings with the SEC. Hudson Capital cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Hudson Capital and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Hudson Capital and Fr8App do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based.

Investor Relations Contacts:

Dusty Buell and Kirsten Chapman, LHA Investor Relations, fr8app@lhai.com, 415.433.3777

 

FAQ

What is Fr8PrivateFleet launched by Hudson Capital?

Fr8PrivateFleet is a technology solution developed by Hudson Capital's subsidiary Fr8App, designed to improve efficiency in freight transportation by matching shippers with carrier capacity.

Which major client has Fr8PrivateFleet secured?

Fr8PrivateFleet has secured a contract with one of Mexico's largest food producers.

How does Fr8PrivateFleet benefit shippers?

Fr8PrivateFleet benefits shippers by improving matching with carrier capacity, leading to increased efficiency and profitability.

What is the stock symbol for Hudson Capital?

The stock symbol for Hudson Capital is HUSN.

What are the expected outcomes for Hudson Capital following the launch of Fr8PrivateFleet?

The launch of Fr8PrivateFleet is expected to provide additional revenue streams and enhance market positioning for Hudson Capital.