The Coronavirus is having an enormous impact on the US economy, according to an unusual source of data, but it's also been a boon to at least four startups
Freightos is a platform that helps companies of all sizes find international shippers for the supplies they buy and products sell. The company is an Amazon shipping partner.
Through the $20 trillion of exports that flows across its platform involving 1,600 logistics service providers, it has collected so much data on worldwide shipping trends, and the business trends that power the need for shipping, that the company is working on creating a derivative investment market based on its data.
Here's the type of data Freightos knows: Since the Coronavirus outbreak has hampered travel to and from mainland China and sickened tens of thousands of people, US companies have been madly searching for alternative suppliers outside of China. Whereas, 3-6% of American companies of the 8,000 companies using its platform typically search for manufacturing suppliers outside China, in the past couple of weeks, close to 20% of them are trying to find suppliers outside of China.
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