FedEx Corporation is a multinational conglomerate holding company focused on transportation, e-commerce, and business services. Founded as Federal Express Corporation on May 5, 1971, in Little Rock, Arkansas, by Frederick W. Smith, the company commenced operations in 1973 in Memphis, Tennessee. Smith conceived the idea for the company in a term paper at Yale, envisioning a system tailored for time-sensitive deliveries. Today, FedEx is known for its express delivery services and operates through various subsidiaries, including FedEx Express, FedEx Ground, FedEx Freight, and FedEx Office.
Raj Subramaniam serves as the President and CEO of FedEx Corporation. Recent news includes FedEx's focus on "high-margin" clients to reach $98 billion in revenue by 2029, emphasizing B2B and specialized B2C markets. This strategy involves leveraging digital operations, AI, and automation. FedEx is also part of a consortium to acquire InPost, a European parcel locker provider, with FedEx's investment being $2.6 billion. In terms of market position, FedEx holds approximately 33% of the U.S. courier and local delivery revenue as of 2024 and handles roughly 19% of the total parcel volume. Globally, FedEx holds an estimated 7% share of courier revenue, ranking as the world's third-largest parcel carrier by revenue. FedEx provides various services, including express delivery, ground shipping, freight transportation, and business services.
