From Wikipedia, the free encyclopedia Echo Global Logistics
Echo Global Logistics
Echo Global Logistics tics, a transportation and logistics outsourcing business
utilizing the latest technologies[6].
In 2006, Douglas R. Waggoner became the CEO of Echo
and brought with his experience in the transportation
industry. Under the leadership of Waggoner, Echo com-
bined technology and transportation in order to provide
innovative solutions for shippers[7]. Waggoner has been
recognized for his contributions to the transportation
and business world. In 2009, Ernst & Young selected Wag-
Type Public (NASDAQ: ECHO) goner as the Entrepreneur of the Year[8].
Industry Transportation Services Within the first few years of operation, Echo expe-
rienced exponential growth. In 2007, Echo acquired
Founded 2005 SelecTrans, Mountain Logistics and Best Way Solu-
Headquarters Chicago, IL USA tions[9]. They also opened three regional branches in Los
Angeles, Portland, and Park City, Utah. In 2009, Echo
Key people CEO: Douglas R. Waggoner Founder: Brad
made two additional acquisitions with Freight Manage-
Keywell
Founder: Eric Lefkofsky ment and RayTrans Distribution[9]. On October 2, 2009
Echo went public on NASDAQ[5]. In April 2010, Echo
Revenue $426,364,000 USD (FY 2010) opened a new office in Dallas, Texas[10]. In March 2010,
Website www.echo.com the Company opened another office in Atlanta, Geor-
gia[11].
Echo Global Logistics, Inc. (Nasdaq: ECHO) is a provider
of technology-enabled transportation and supply chain
management services, delivered on a proprietary tech-
Services
nology platform, serving the transportation and logistics Echo provides transportation services for shipping in-
needs of its clients[1][2]. Echo’s web-based technology cluding:
platform compiles and analyzes data from its network of • Truckload (TL)
over 24,000 transportation providers to serve its clients’ • Small Parcel
shipping and freight management needs. The Company • Inter-Modal
has become a leading contender among 3PLs and has • Domestic Air
been listed in Inbound Logistics’ Top 100 3PL Providers[3]. • International
In 2011, Echo has procured transportation and provided • Expedited
logistics services for more than 22,700 clients across a Main logistics services include:
wide range of industries, such as manufacturing, con- • Rate Negotiation
struction, consumer products and retail[4]. • Carrier Management
• Routing Compliance
• Shipment Execution and Tracking
History • Freight Bill Audit
Echo Global Logistics, Inc. was originally established as • Payment and Performance Management[12]
a logistics division for InnerWorkings, a prominent web-
based printing company in Chicago[5]. In 2005, In-
nerWorkings founder Eric Lefkofsky decided to expand
Technology
the logistics division into an independent company. Le- Echo’s technological approach to logistics enhances the
fkofsky, most recently known for creating the social- traditional transportation outsourcing models. Echo de-
coupon Website Groupon, is an expert on using the pow- veloped Evolved Transportation Management (ETM)
er of technology and the Internet to update a particular technology; a web-based proprietary software applica-
industry. With this in mind, Lefkofsky and fellow co- tion that allows the company to analyze the transporta-
founder Brad Keywell set out to create Echo Global Logis- tion requirements of each client and create customized
solutions[13]. ETM provides supply chain visibility, com-
petitive pricing and shipment execution throughout all
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From Wikipedia, the free encyclopedia Echo Global Logistics
modes of transportation. The technology allows clients • Inbound Logistics Top 100 3PL Providers 2010
to manage transportation and logistics fees and navigate • Entrepreneur of the Year: Driving Force: How Doug
their way through the complexities in the transportation Waggoner reinvented Echo Global Logistics -
and supply chain functions[12]. Working with ETM, Echo SmartBusiness, July 2009
employs technology portals which ensure high levels of
efficiency. These portals include:
EchoTrakTM: customized web-based transportation
Notes
management displaying details of shipments and auto- [1] ^ "“Profile: Echo Global Logistics, Inc. (ECHO.OQ),”
matic alerts to email Reuters". http://www.reuters.com/finance/
RatelQTM: Rating tool for LTL stocks/companyProfile?symbol=ECHO.OQ.
LanelQTM: Rate and price quoting engine for truck- [2] "“Echo Global Logistics, Inc. (ECHO) Chief Executive
load shipments Officer to Ring The NASDAQ Stock Market Opening
Optimizer Tracking: Performance ratings of carriers Bell,” NASDAQ". http://ir.nasdaq.com/
and shipment data releasedetail.cfm?ReleaseID=512317.
Optimizer Imaging: Stores all digital images of ship- [3] "“Top 100 3PL Providers of 2010,” Inbound
ping documents[14] Logistics". http://www.inboundlogistics.com/3pl/
top100.shtml.
[4] "“Echo Global Logistics Recognized #2 in Crain’s
Carriers Chicago Business Fast Fifty 2011,” Yahoo Finance".
Echo works with top carriers specializing in truckload, http://finance.yahoo.com/news/Echo-Global-
less-than-truckload, expedited, international and small Logistics-pz-2043427265.html?x=0&.v=1.
parcel carriers[15]. To ensure the quality control, Echo [5] ^ "“Echo Global Logistics Company Growth,”
employs a Carrier Certification Program. The program Echo.com". http://www.echo.com/
ranks carriers by relevance and appropriateness for all EchoRecruitment/WhoEcho/Growth.aspx.
shipments. The carrier list is continuously updated and [6] Dahl, Darren (November 17, 2010). "“A Business
maintained according to performance, rate negotiation Creator Sees Big Returns From Social Media,” New
and other quality standards. All carriers working with York Times, November 17, 2010". The New York
Echo are licensed, insured, and adhere to proper safety Times. http://www.nytimes.com/2010/11/18/
rules[16]. business/18sbiz.html?_r=2.
[7] "“Entrepreneur of the Year: Driving Force: How
Commitment to the environ- Doug Waggoner reinvented Echo Global Logistics,”
SmartBusiness, July 2010".
ment http://www.sbnonline.com/Local/Article/17593/
68/0/Driving_force.aspx.
In February 2010, Echo joined the U.S. Environmental
[8] "“Winners for Ernst & Young Entrepreneur Of The
Protection Agency’s (EPA) SmartWay Transport Partner-
Year 2009 awards in Midwest announced,” Ernst &
ship, an initiative with the goal of environmentally
Young, June 26, 2009". http://www.ey.com/US/en/
cleaner, more fuel efficient transportation options. The
Newsroom/News-releases/Winners-for-Ernst---
Company achieved a score 1.25, which is the highest pos-
Young-Entrepreneur-Of-The-
sible rating, representing "outstanding environmental
Year%C2%AE-2009-awards-in-Midwest-
performance”[17].
announced.
[9] ^ "“Echo Global Logistics Inc. Mergers and
Competitors Acquisitions,” AlactraStore".
http://www.alacrastore.com/mergers-
Top competitors of Echo include Network Global Logis-
acquisitions/Echo_Global_Logistics_Inc-3832153.
tics CH. Robinson Worldwide, Freightquote.com, Ozburn-
[10] "“Echo Global Logistics Opens Dallas Office,” The
Hessey Logistics, Total Quality Logistics, Transplace, Sch-
Journal of Commerce, April 6, 2010".
neider National, FedEx, JB Hunt, ABF, YRC, Conway and
http://www.joc.com/logistics-economy/echo-
UPS[1].
global-logistics-opens-dallas-office.
[11] "“Echo Global Logistics Announces Opening of New
External links Office in Atlanta, Georgia,”
• Echo Global Logistics Official Website SupplyChainNetwork.com, March 9, 2010".
• Echo Global Logistics, Inc. on Google Finance http://www.supplychainnetwork.com/echo-
• Echo Global Logistics on YouTube global-logistics-announces-opening-of-new-office-
• myFreight powered by Echo in-atlanta-georgia/.
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From Wikipedia, the free encyclopedia Echo Global Logistics
[12] ^ "“Echo Global Logistics, Inc.,” Answers.com". [16] "“Echo Global Logistics Carriers,” Echo.com".
http://www.answers.com/topic/echo-global- http://www.echo.com/carriers.html.
logistics-inc-1. [17] "“Echo Global Logistics’ Joins EPA’s SmartWay
[13] "“About Echo Global Logistics,” Echo.com". Transport Partnership, Achieves Highest Possible
http://echo.com/about.html. Score,” TradingMarkets.com, February 12, 2010".
[14] "“Echo Global Logistics Technology,” Echo.com". http://www.tradingmarkets.com/news/stock-
http://www.echo.com/technology.html. alert/echo_echo_echo-global-logistics-joins-epa-s-
[15] "“Profile: Echo Global Logistics,” Inbound smartway-transport-partnership-achieves-highest-
Logistics". http://www.inboundlogistics.com/ possible-score-774000.html.
planner/profiles/2010/355.php.
Retrieved from "http://en.wikipedia.org/w/index.php?title=Echo_Global_Logistics&oldid=470835197"
Categories:
• Companies listed on NASDAQ
• Companies based in Chicago, Illinois
• Logistics companies of the United States
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