FedEx ends ground-delivery contract with Amazon 0 18

FedEx ends ground-delivery contract with Amazon

FedEx is ending a partnership with Amazon to supply the ecommerce company with ground delivery shipping after its current contract ends this month, the company confirmed to Bloomberg. This is the second contract FedEx has allowed to end without renewal with Amazon, following a similar decision in June that covered only Express air shipments.

The new contract termination is more significant than the earlier one, in that it means FedEx will not be providing any last-mile delivery service for Amazon, the largest online retailer, in addition to its less sizeable Express air freight. FedEx previously said that Amazon actually makes up less than 1.3 percent of the shipper’s total revenue, as measured over the year that ended on December 31, 2018.

Amazon is expanding its own shipping capabilities considerably, adding more aircraft to its fleet, and deploying ground-based wheeled delivery robots for last-mile package transportation. The ecommerce giant also recently began its own Delivery Service Partner program to fund and support delivery startup businesses that can help address its need for logistics. It has increasingly relied on its own contracted last-mile delivery services in recent years, and also allocates more of this business to both UPS and USPS than to FedEx even outside its other offerings.

FedEx did explicitly point out that its Express contract ending had no impact on other aspects of its relationship with Amazon at the time, noting that its international and “other” business units (including ground) weren’t affected. The company also says it’s looking to capitalize on the demand for ecommerce outside of Amazon, and building its network intentionally to “serve thousands of retailers in the e-commerce space.”

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Earthquake in Pleasant Hill California 0 13

Earthquake in Pleasant Hill California

Earthquake in Pleasant Hill California

Brian Wang |
October 14, 2019 |

My home was just hit with an Earthquake. The US Geological Service says it was centered one highway stop away from where I live. USGS says it was a 4.5-4.7. However, it was strong enough to shake dishes and knock some hanging objects off of the wall. It was probably the strongest shaking from an Earthquake that I have personally felt in California. Other Earthquakes that I have felt had stronger USGS readings in the 5 range. However, those were centered farther away.

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South Korea-based Mathpresso, developer of tutoring app Qanda, raises $14.5 million Series B 0 8

South Korea-based Mathpresso, developer of tutoring app Qanda, raises $14.5 million Series B

Seoul-based education technology startup Mathpresso announced today that it has raised $14.5 million in Series B funding. The company’s flagship app is Qanda, which provides students with math and science help and tutoring. Participants in the round include Legend Capital, InterVest, NP Investments and Mirae Asset Venture Investment.

This brings Mathpresso’s total funding so far to $21.2 million. Its previous round of funding was a $5.3 million Series A announced at the end of last year.

Mathpresso says Qanda (the name stands for “Q and A”) is currently used by a third of students in South Korea. The app launched in markets including Japan, Vietnam, Indonesia and Singapore last year and now has users in more than 50 countries. Qanda uses AI-based optical character recognition to scan math problems. Students take a photo of a problem and upload it to get instructions for how to solve it from the app or tutors.

In a statement, Legend Capital managing director Joon Sung Park said, “As an early investor of China’s leading mobile education companies such as Zuoyebang and Onion Math, Legend Capital has witnessed robust growth of China’s mobile education market. We strongly believe that Mathpresso has the technological and operation capabilities to expand overseas and grasp new opportunities emerging from the digitization of education, such as offering personalized learning for each student.”

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