XPO Logistics Digital Truck Brokerage Platform Exceeds 600,000 App Downloads

Rhea-AI Summary

XPO Logistics (NYSE: XPO) achieved a significant milestone with over 600,000 downloads of its Drive XPO mobile app by year-end 2021, doubling its count within a year. Carrier engagement surged, with a 74% year-over-year rise in average weekly users of XPO Connect in Q4. This growth reflects XPO's strategic focus on truck brokerage automation and its strong investment in digital logistics solutions. Recent enhancements include an expanded API for Oracle's Transportation Management and advanced tracking for carriers, utilizing machine learning for efficient real-time freight capacity transactions.

Positive

• Over 600,000 downloads of Drive XPO app, doubling in a year.
• 74% year-over-year increase in weekly average carrier users on XPO Connect.
• Investments in digital ecosystem and truck brokerage automation.

Negative

• None.

GREENWICH, Conn., Jan. 24, 2022 (GLOBE NEWSWIRE) -- XPO Logistics, Inc. (NYSE: XPO), a leading provider of freight transportation services, today announced a new milestone in the adoption of its XPO Connect digital brokerage marketplace. Carrier demand for the platform’s Drive XPO mobile app propelled cumulative downloads of the app to over 600,000 at year-end 2021, more than doubling the cumulative count in 12 months.

Additionally, in the fourth quarter, the company had a 74% year-over-year increase in weekly average carrier users on XPO Connect, reflecting a substantial increase in digital truckload providers available to XPO customers.

Drew Wilkerson, XPO’s president of North American transportation, said, “XPO has prioritized the development of truck brokerage automation for over a decade, leading to our premier XPO Connect offering. Now that digital transactions have become a defining trend in our industry, our investments ahead of the curve are attracting significant freight volumes to our platform.”

XPO’s ongoing investments in its digital ecosystem include enhancements that serve both customers and carriers. Recent introductions include an expanded API offering that allows shippers to access XPO Connect via Oracle’s Transportation Management cloud system; and end-to-end tracking automation for carriers with minimal driver interaction.

XPO Connect uses machine learning to analyze historical data and market conditions, helping shippers and carriers buy and sell freight capacity more efficiently in real time. Drivers can download the Drive XPO app at no charge from the iOS and Android stores.

About XPO Logistics
XPO Logistics, Inc. (NYSE: XPO) is a leading provider of freight transportation services, primarily truck brokerage and less-than-truckload (LTL). XPO uses its proprietary technology, including the cutting-edge XPO Connect^® automated freight marketplace, to move goods efficiently through supply chains. The company’s global network serves 50,000 shippers with 756 locations and approximately 42,000 employees, and is headquartered in Greenwich, Conn., USA. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Media Contact
Joe Checkler
+1-203-423-2098
joe.checkler@xpo.com

FAQ

What milestone did XPO Logistics announce regarding its Drive XPO app?

XPO Logistics reported over 600,000 downloads of the Drive XPO app by year-end 2021, doubling the previous year's count.

How much did weekly average carrier users on XPO Connect increase in Q4?

There was a 74% year-over-year increase in weekly average carrier users on XPO Connect in the fourth quarter.

What technology does XPO Connect use to improve freight transactions?

XPO Connect utilizes machine learning to analyze historical data and market conditions, enhancing the efficiency of freight capacity transactions.

What new features did XPO introduce to its digital ecosystem?

XPO introduced an expanded API for Oracle's Transportation Management and end-to-end tracking automation for carriers.