Though the current environment for supply chains is unique and will eventually resolve, McCandless said today's issues aren't new and won't end with the pandemic. McCandless said in the current environment and with the disruptions still mounting he has a pipeline 40 potential customers long. Required fields are marked *. googletag.cmd.push(function() { Movies. He started building companies like Inc 500 ranked advisory firm, Metafora (formerly CarrierDirect). My mom named me after my uncle, who was a boxer. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); Jett A McCandless, age 60s, lives in Scottsdale, AZ. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. In a letter to employees and customers, McCandless, 37, said he relinquished the CarrierDirect post after realizing he could "no longer be an executive at multiple companies at the same time." Chicago, IL 60601 After becoming Principal and GlobalTranz, he began building companies that would lead the logistics sector into . By helping people accomplish their goals to be part of something special, Im able to accomplish my goals.. (And if project44 is alittle long for you, we always answertop44.). By continuing to browse the site you are agreeing to our use of cookies in accordance with our. . Menu. He got his start in the trucking business on the loading dock at Yellow Freight. At each company and in every customer interaction, he knew the right technology could transform an industry that moves nearly $16.4 trillion worth of cargo every year in the U.S.alone. Main competitor Fourkites, data-driven freight brokerage Flexport, trucking tech startup KeepTruckin, and others brought in rounds of $100 million and above this year. You cannot be great, you cannot accomplish anything amazing if you live your life in fear that youll have a failure or a mistake, McCandless says. That's an unusual first name. He has steered multiple companies through accelerated growth, providing the logistics space with expertise and innovation along the way. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. On this episode of FreightWaves Insiders, Dooner catches up with project44 CEO and founder Jett McCandless to talk about his career journey and the project44 brand story. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Menu. It's a great release and it really keeps me focused. Follow FreightWaves Insiders on Apple Podcasts When you look at formal education, if you get too many answers wrong, you are considered a failure, McCandless says. When youre a small business, you own your job and you dont own a company. I would go wakeboarding. He was a featured speaker at TEDx Chattanooga. In 2010, the company was sold to a private equity firm. Under Jett's leadership, project44 has grown into a $2.4 billion "unicorn" that tracks over 1 billion shipments annually in 170+ countries for over 1,200 leading brands. Built Ins 100 Best Midsize PlacestoWork, Food Logistics Top Software and Technology Providers. Jett McCandless, Project44 Inc: Profile and Biography - Bloomberg Markets Bloomberg Sign In Subscribe Live Now Bloomberg TV+ Bloomberg Technology The only daily news program focused exclusively. googletag.cmd.push(function() { His next few acquisitions will be aimed at cracking the evergreen problems that customers struggle with in any shipping environment. Jett maintains relationships with many people -- family, friends, associates, & neighbors -- including Sandra Simons, , Birk Mccandless, Tina Terry and Jean Mccandless. TV Shows. Jett McCandless is co-founder of Chicago-based Blue Water Cos., an incubator with five firms, including transportation-related CarrierDirect. The consent submitted will only be used for data processing originating from this website. I'd rather have 80 percent of a company worth $100 million than 100 percent of a company worth $5 million . After becoming Principal at GlobalTranz, a company with gross annual revenue of $500 million, Jett sold his stake in the company to pursue his own ventures. The Chicago-based startup specializes in bringing much-needed visibility to the traditionally opaque world of shipping container movements. (Podcast), Chief Executive Officer/Founder, Project44 Inc. . Movies. googletag.enableServices(); "The younger generation can leverage technology in a way that people in my generation can't," he says. Continue with Recommended Cookies, Your email address will not be published. Last week I conducted our semi-annual interview with our friend and noted economist, Gary Shilling. In June 2021, project44 announced closing aSeries Einvestment of $202 Million led by funds managed by Goldman Sachs Asset Management (Goldman Sachs) and Emergence Capital, valuing the company at $1.2 Billion. Missing Crain's in print? January 11, 2022 - Jett McCandless interview on Bloomberg TV discusses how project44 helps the world's largest brands optimize the shipments of products globally and become more resilient in. Sign up to receive advice from business professionals, or register for information on our networking events near you! Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens. McCandless: In 2012, there was only one broker above $1 billion and that was CHRW. 130 E. Randolph St. Contact us at events@freightwaves.com for questions or concerns. Who knew? In 1953, Highway 44 opened as Rte. At Project44, Jett McCandless has 31 colleagues including Stuart Larkins (Director), Joseph Floyd (Director) . I hope I have more vision than that. He grew up in a poor part of Chicago with a family that had little money. A great broker is worth between 9-12 EBIT so what . E-mail oureditor For me, theres no shame in it not working out.. Copyright 2023. googletag.pubads().collapseEmptyDivs(); The barrage of disruptions port congestion, shipment delays, extremely high freight prices is "causing some entrepreneurs to be tired and just kind of throw the towel in, and they have really great businesses," McCandless told Insider. Jett McCandless is Founder and CEO of project44. This ambitious new transportation infrastructure connected agrowing nation and supply chain. Mom didn't want my nose to get broken, so I was only allowed to train. I can help them leave their legacy. McCandless says he gets incredible loyalty and drive out of his people who must put in the effort to earn the reward. CarrierDirect is a thought leadership and consulting company that meets with CEOs and looks for ways to shape strategy based on the vision and imagination of the leader. Are you there? Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. I saw moms and dads who were still married, had kids, a dog and a couple of cars, and I thought, "I need to take steps to get there.". . In January 2022, project44 received a $420M Investment led by Thoma Bravo, TPG, and Goldman Sachs valuing the business at $2.2B pre-money. We and our partners use cookies to Store and/or access information on a device. He's building a dedicated M&A team. Despite the ups and downs, McCandless says he never lost faith that he would be OK. He helped the company grow to $80 million in revenue and began to accrue all the symbols of wealth. About 1 in 1,000,000 are are probably worth over $2b (and yes, I pulled that statistic out of my butt, lol). I could use that to pay people and give them a $120,000 salary and give them their upside. I could go and sell 20 percent of CarrierDirect for $2 million, McCandless says. Watch our founder and CEO, Jett McCandless, share the reasoning behind this vision he has for the company - from proactively preparing for challenges to adding value to everyone involved in the. var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); Jett McCandless Founder and CEO of project44 | Transforming Logistics and Transportation Wilson, Wyoming, United States 21K followers 500+ connections Join to follow project44 About project44. Born in Chicago, the logistics capital of the world and one of the fastest-growing tech hubs, project44 now has team members across the U.S. and around the globe. Jett Kain's Net Worth. He took unpaid ride-alongs with sales reps to work his way into sales, eventually landing Walmart as a client. googletag.pubads().collapseEmptyDivs(); Its the perfect project to serve as ournamesake. Emergence Capital partner Joe Floyd talks to Jett McCandless about his journey as an entrepreneur and how he founded project44, bringing digitization to the. Stay up to date with what you want to know. They make $150,000 or $300,000 a year, but the idea that they would start their own business and it might not work is too risky for them. He got his start in the trucking business on the. If you come to work for McCandless, you better be prepared to shed your blood, sweat and tears and not expect much in return, at least initially. Own a company. To date, we have received numerous awards for our Advanced Visibility Platform, were named #1 on the 2022 FreightWaves FreightTech 25 list, and have expanded globally by acquiring leading visibility providers like GateHouse Logistics, Ocean Insights, ClearMetal, andConvey. the company grew to $35 million in revenue and now has $3.5 million in net profit. Fill out the form below to speak with avisibility expert. 4,957 executive movements have been recorded in the last 12 months. The core of our business model is we help good companies become great. Join us for a live webinar on Jan 12 to hear Tom Enright, VP Retail Supply Chain at Gartner and Bart De Muynck, Chief Industry Officer at project44 talk about Solving the Inventory Equation. Were you inspired? NOW WATCH: Customers expect CEOs to take action against climate change now more than ever, Unilever executive says, raising more than $300 million in two rounds. Its CEO is targeting logistics startups with good tech but lacking sales skills. At CarrierDirect, McCandless struck a deal with a California-based LTL carrier named Shift Freight to launch what was believed to be the first LTL model to work only with brokers and 3PLs. Most of them continue to be middle class, McCandless says. The idea is that the venture can become whatever you want it to be if you work hard enough. Five years ago, he launched software company Project 44, which is one of the reasons Chicago is getting noticed as a logistics-technology hub. Jett McCandless, project44s Founder and CEO, has seen the problems in the logistics and delivery space firsthand every day for 20years. McCandless disagreed with the terms of the deal and was fired. You plan to play hooky. Public Private. She currently resides in Chapel Hill, North Carolina, USA. Through a strong will and deep determination, McCandless forged a career path that brought him to work for a third-party logistics provider. I didnt do a good job cutting. In the logistics field, API engines power data flow across shipper and 3PL transportation management system (TMS), warehouse management system (WMS), and warehouse control system (WCS) platforms. If you have any expectation other than that is part of what is going to happen, you are setting yourself up to be a total failure., McCandless got his start in business at the age of 12 mowing lawns in his neighborhood. San Francisco Bay Area, Silicon Valley), This describes the type of investor the person is (e.g. Jett McCandless, Producer: Signing Out. All Products; Closures; Drums and Drum Accessories; Glass Containers; Liners; Measuring Cups; Open and Tight Head Plastic Containers; Open and Tight Head Steel Containers Jett McCandless has as good a reason as anyone to be skeptical about what the future has in store for him. Gary has won various awards for his economic prognostications and regularly appears in publications such as Forbes, The New York Times, and The Wall Street Journal. Were innovators with ambition, fixing the tech issues that plague the global supply chain. Caffeinated or decaf? Worldwide Express, Coyote Logistics, Echo Global and Con-Way. McCandless cites studies that show many entrepreneurs came from backgrounds like he did where they had very little growing up, but made themselves into a success. He has worked with FedEx, Reebok, Adidas, L.L. Together, weve created the worlds leading Advanced Visibility Platform for shippers and logistics service providers. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Jett Mccandless is one of the most popular faces on the globe. The company generates more than $100 million in annual recurring revenue (ARR), the largest SaaS generation 2 . Now, by the end of this year, there will be several: CHRW, Coyote, TQL, XPO (which is over that in revenue but not in brokerage), and Echo. With ateam of industry experts, technology visionaries and ambitious individuals, p44 is powering real-time, transparent and optimized shipping experiences. Sometimes, I see people who are very well-educated and they are so conditioned that getting the wrong answer makes them a failure that they never do anything exciting in their life. In two years, the company grew to $35 million in revenue and now has $3.5 million in net profit. Bean, Hasbro, Louis Vuitton, and many more high level clients across the full spectrum of the supply chain. Route 66 yes, 66 is an American transportation icon rooted in Chicago, our hometown. That was his nickname in the ring. Jett has lived in Bellevue, WA and Scottsdale, AZ in the past. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has participated in, Announced Date: Date when the Investment is announced, Organization Name: Name of the organization that received the investment, Lead Investor: This field indicates whether an investor led/organized the investment, Funding Round: Name of the funding round where the Investment is made, Money Raised: Amount of money raised in Funding Round, Total number of current Jobs the person has, Organization Name: This is the name of the organization, Title At Company: Title of a Person's Job, Start Date: Start date of the Person's Job, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of events the individual appeared in, Number of news articles that reference the Person. Sales, eventually landing Walmart as a client above $ 1 billion and that was CHRW that. 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