FreightCity.com Opens its Marketplace for Commercial Freight Bidding, Site Membership Grows to Fifteen Thousand

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FreightCity, a freight matching marketplace where shippers and carriers connect, launched on Labor Day (September 7, 2010). This dynamic trading platform can reduce freight costs by up to 35%. Over fifteen thousand motor carriers have enlisted on the site to provide competitive quotes on freight posted by shippers.

FreightCity, a freight matching marketplace where shippers and carriers connect, officially opened for business on Labor Day (September 7, 2010). Over fifteen thousand motor carriers have enlisted on the site to provide competitive quotes on freight posted by shippers.

“Logistics is an industry where relationships, availability, and leverage are built into your freight fees”, says Scott Fitzgerald, CEO & Co-founder of FreightCity. “FreightCity provides a platform or marketplace so that everyone is on a level playing field. It doesn’t matter if you’re shipping two pallets or twenty truckloads you will receive competitive quotes on both through FreightCity.”

FreightCity is not a load board. It’s a true marketplace, boasting a bidding system for both shippers with freight and carriers with equipment; and an escrow system for managing payment between shippers and carriers. The service is free of charge to the carriers and only a nominal fee to shipper after a successful freight match. For those accustomed to traditional brokerage services, a small monthly fee for the concierge membership is available, this allows you to have a dedicated agent post your freight, track your truckloads, and make sure deliveries are made on time.

Hector Escobar, CTO & Co-founder of FreightCity explains, “I’m not a logistics veteran, but I have an eye for identifying inefficiencies. I worked as a logistics broker with Scott for a short time and was dumb-founded by the tremendous number of phone calls and faxes that were being done on a daily basis to transmit and negotiate freight transactions. The concept was simple; to create a clearing house where all negotiations were logged and committed. The second part to make this work was to provide financial accountability to back up the transaction; this created a way to quickly trust your trading partner with whom you haven’t done any business before. Escrow makes FreightCity an attractive alternative to traditional brokerage. The Motor Carrier can get paid quickly (usually 3 days or less) at a discount rate much lower than the traditional factoring companies whom charge upwards of ten percent for payment in a similar time-frame. The service also cuts out additional margins that the large brokers charge. The competitive marketplace and lower transactional costs provided by the FreightCity platform could save the shipper up to thirty five percent (35%). “

FreightCity also provides direct account management for larger volume accounts or time critical loads that need extra attention and tracking services. Shippers searching for a way to lower their delivery costs, through an efficient, web based solution can now turn to FreightCity.com for all their needs.

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Hector Escobar II
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