The National Transportation Exchange (NTE), of Downers Grove, IL, has been named one of the top 50 privately-held companies in America by Red Herring, a technology publication. In its June issue celebrating the world's 100 most important companies, Red Herring said NTE was one of the companies "whose products, services and business models were defining the future of business."
Identified by Red Herring as the "leader in its market," the online trading exchange for buyers and sellers of ground transportation was selected to the list from among more than 500 global entrants.
"We hold technology companies to a set of standards that prove to us that they are innovators, agents of change and leaders," said Jason Pontin, editor of Red Herring magazine. "We see that the emerging networked economy is one that requires vision, innovation and proven expertise. The National Transportation Exchange is among a group of privately-held companies whom we consider to be a bright light in the digital universe."
National Transportation Exchange, Inc. was the first electronic exchange matching LTL shipments with available space on trailers. Rather than simply bringing shippers and carriers together, NTE handled the actual transactions, retaining a portion for its service. Hiowever, the company struggled until a new management team took over in 1999. In January of this year, NTE landed $53-million in a fresh round of funding from some big-name investors.