Fedex Success Story, Journey

History of FedEx

FedEx is previously known as federal express. FedEx Corporation is also called FDX Corporation this multinational company focuses on transportation, e-commerce, and business services. FedEx is major in delivering packages FedEx has a headquarter in Memphis, Tennessee. FedEx was founded by Frederick W. Smith Little Rock, Arkansas in 1971 as Federal Express Corporation. FedEx is also considered the world's largest transportation company. According to the news of 2020, this company has almost 650,000+ employees. This company also have a website www.fedex.com.
Frederick Smith was born on born August 11, 1944, in Marks, Mississippi. Frederick Smith was a son of James Frederick "Fred" Smith. His father was the founder of toddle restaurant and the Smith Motor Coach. When Frederick smith was young bone disease caught him but later he was recovered. After regaining their health he became an amateur pilot as a teen. Due to his passion bout work. He attended elementary school at Presbyterian Day School in Memphis and for high school, he attended a high school at Memphis University School.
In 1962 Frederick Smith entered Yale University. One day teacher said the students to write a paragraph that will highlight the importance of overnight delivery service. Mainly their paragraph was to write the solution about the problem in some country some people didn’t receive their parcel on time. For this, he writes that in America the people who provide a courier service depend on a passenger’s plane. He further writes that instead of lying on the passenger’s plane the company should use their own plane to deliver packages. He writes that due to this the companies can provide their pack to people on time.
The professors of Frederick smith University didn’t find their plan worthful so they ignore it and give him a grade c. Frederick Smith became a member and eventually the president of the Delta Kappa Epsilon (DKE) fraternity and the Skull and Bones secret society. In 1966 he completed his bachelor’s degree in economics. After graduation, Smith was commissioned in the U.S. Marine Corps, serving for three years.
Frederick smith decided to work on his idea so On June 18, 1971, Smith founded Federal Express with his $4 million. When Frederick smith first made Federal express he didn’t make it for courier service he made it for Federal Reserve Bank to move cash only. In the early days, Smith had to go to great lengths to keep the company FedEx afloat. After making the company he starts doing hard work to keep the company up. Once when FedEx was formed Frederick smith won $27,000 gambling on blackjack to cover the company's $24,000 fuel bill. At first, the company only provide its services in American and later it also started delivering in other countries as well. Due to Frederick smith's hard work, FedEx began providing the service to customers in 1973. With 389 members Federal Express's official operations started on April 17, 1973. In the same year, this company had 389 employees and provided service in 25 cities.
The plane collected the packages from the airport every night. Then the plane flows to the airport close to their destinations and then the package was loaded on FedEx trucks and delivered to people's houses. FedEx expand its start by advertising and direct-mail campaigns in 1975. As the federal express didn’t earn profit up 1975. Like other's stories of success FedEx company also faces hardships. The company lost $29 million in its first 26 months of operation in 1975. In 1977 company profits hit $8 million on sales of $110 million. In 1978 Federal Express became a public company.
In 1980 the other companies increase the use of their overnight service so federal express also did the same. At first, like others, this company didn’t earn much profit but with time federal express became successful to build its image. By the year 1980s, FedEx became a well-established company. In the year 1983, federal express became the first company in American history to reach a financial hallmark.
The real success federal express achieve when Frederick smith decided to go global. In 1985, Federal Express marked its first regular scheduled flight to Europe. In 1994 the company change its name from making FedEx from federal express. In 2000, Smith made an appearance as himself in the Tom Hanks movie Cast Away at FedEx's home facilities in Memphis, Tennessee.
With this type of hard journey in the past, FedEx is own owned many companies. Today FedEx owned FedEx Office, FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, TNT express, and FedEx Logistics.
Today FedEx's office is located in Memphis, Tennessee, the United States with 289,000 employees. Frederick Smith is the founder of FedEx and now he is the CEO of FedEx.
FedEx Express is responsible for providing overnight delivery service to customers in almost 220 countries. The main duty of FedEx express is to provide 24-hour delivery service to customers. FedEx Express is the one that invented express transportation. As of 2020, FedEx express is one of the world's largest airlines in terms of fleet size. FedEx Express delivers parcels to more than 375 destinations in 220 countries.
FedEx ground is specialized in ground service. FedEx ground use truck for delivering packages. For the United States, FedEx ground claims that the parcel will arrive in 1-5 working days and for Alaska and Hawaii FedEx ground claims that the parcel will arrive in 3-7 days. It is headquartered in Moon Township, Pennsylvania. It advertises a low-cost shipping service. FedEx Ground delivers every day of the week to all 50 US states.
Any shipment which has a weight of over 150 pounds is considered Freight. FedEx Freight is responsible for delivering packages that are heavy in weight by any method air, land, and sea.
FedEx services include copying and digital printing, professional finishing, signs, computer rental, and corporate print solutions.
The revenue of FedEx in the year 2018 was $65.450 billion. Starting with only 389 employees now FedEx has almost the most number of employees and this company also touches the peak of success.