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FreightWise Gains GE Backing

August 22, 2000

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FreightWise Inc., an Internet freight marketplace (www.freightwise.com) based in Fort Worth, Texas, announced yesterday that the General Electric Company will become an investor in the FreightWise exchange.

According to a press release, the two companies will formalize the relationship by the end of September.
FreightWise will offer online auctions of truckload and intermodal capacity; shippers will bid on available trucks as opposed to fleets bidding on loads. The site will offer customers complete online service, from load matching through transaction and tracking.
Originally set to launch last spring, FreightWise is set to go live in a matter of weeks.

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