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Transportal Seeks Financing, Acquisition or Merger

September 28, 2000

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Intenet startup Transportal Network Inc. (www.transportalnet.com) of Atlanta is in a "holding pattern." According to director of marketing Kevin Sullivan, the company stopped hiring as of Sept. 1, though work continues for the 20-person staff.

Sullivan said Transportal is seeking a new round of financing and is exploring other opportunities through merger or acquisition. Sullivan said the company may make a major announcement on Thursday, Oct. 5.
Transportal Network has promised members the benefits of pooled purchasing power and sophisticated optimization software. Transportal has said it would employ software from Massachusetts-based Logistics.com to create a virtual fleet composed of equipment from small to mid-sized truckload carriers. Former Truckload Carriers Assn. President Lana Batts joined Transportal as an Executive Vice President in March.
As recently as Sept. 15, Transportal claimed to have 33 North American fleet members representing nearly $2.5 billion in revenue, 20,000 tractors, and 40,000 trailers.
Sullivan said the pause caused by Transportal’s financial problem has not had an impact on anticipated launch dates. "We did not have an actual launch date posted," he said.
However, pool purchasing was slotted to begin in the last quarter of 2000 and the virtual fleet operation was expected to go live in the first quarter of 2001. Sullivan said those general targets have not changed.

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