More than 7,000 online brands ship orders using the logistics platform ShipBob. The company is offering a new freight transportation solution called FreightBob, a week after ShipBob announced it is opening its first fulfillment center in mainland Europe. Dhruv Saxena, CEO and Co-Founder of ShipBob, joins Cheddar News' Closing Bell to discuss.

Closing Bell

Fulfillment Platform ShipBob Launches Freight Transportation Solution FreightBob Opens New Facility in Europe

Logistics platform ship Bob, that's a startup being used by more than 7000 online brands to ship orders everywhere their customers shop. And now the company offering a new freight transportation solution called freight bob, It comes just a week after ship bob also announced it's opening its first fulfillment center in mainland europe. And joining me now to discuss is Dhruv Saxena co founder and ceo of ship bob Drew thanks so much for coming on the show. I know your startup describing is shipping and logistics operation as best in class. So what sets it apart from other companies in this space? Absolutely. And thank you for having me. And what sets us apart is we have a network of fulfillment centers all across the country and now the globe which helps our merchants take advantage of a growing network where they can now place inventory across the entire network, such that when somebody places an order, let's say from new york, it gets shipped out from a New Jersey fulfillment center and not from a California fulfillment center. So this ability for the merchants to place inventory so close to the end customer allows them to you know, provide the same day next day, two day shipping experience on their website, which allows them to provide a great shopping and shipping experience for their customers. Data drew showing that these global supply chain challenges actually increased in the month of april from the month of March, how are the global supply chain challenges impacting your company. Yeah, absolutely. So you know, for a lot of our merchants china continues to be the source of where a lot of their manufacturing happens. So global supply chain bottlenecks have a big impact because it slows down their their ability to bring products into the U. S. For for consumption by their customers. So that's the reason why fraid bob program that we recently announced last week allows us to take advantage of a group of merchants or a large number of merchants that Shabaab has, where we pull all of the inventory from china into one container. That entire container then contains merchants. Shabaab's merchant's inventory. That container makes its way from china to the port of Long Beach in the U. S. From the from the portrait makes its way to a ship. A fulfillment center where the container then gets opened up and the inventory gets distributed across the network of fulfillment centers across the country. So emerged since I don't have to worry about securing a place in a large container because the entire container has been reserved by ship before its merchants. Which really allows our merchants to bypass some of the supply chain bottlenecks. And I see your company choosing Poland as a location for your first fulfillment center in europe of course, where a lot of these refugees from Ukraine and millions of them are leaving and fleeing to Poland. Why was Poland the right choice? Yes. So some of these decisions, you know, were made quite some time in advance. So, but the reason why we chose Poland is um, you know, in the europe, the largest markets in europe is Germany. And so having a location right at the german polish border allows us to target Poland but also allows us to service the german market. And so then, and Poland also has a large labor pool which allows us to, you know, provide a world class shopping experience to our merchants who are looking to tap into the Eu market, especially the german market. And so the, so that was the rationale behind choosing Poland, really effectively trying to service the german market in a cost effective manner. Quickly drew, are you looking to raise money right now? We, we raised a large ground mid last year. So we have enough cash on the balance sheet which allows us to get through this economic cycle without having to raise any more capital dhruv saxena coming to us from Chicago, who's the co founder and ceo ship bob drew. Thank you