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Announcement of Acquisition
- SpeedX announces acquisition of Accelerated Global Solutions (AGS), an e-commerce logistics provider.
- Acquisition price undisclosed, following two years of partnership.
Business Model and Goals
- The merger combines SpeedX's last-mile delivery capabilities with AGS's expertise in freight forwarding and customs brokerage.
- Goal: To build a $1 billion logistics system within 18 months.
- Expectation of combined revenue exceeding $500 million in 2024.

Market Expansion
- SpeedX plans to expand into Southeast Asia, Australia, Europe, and the Middle East through acquisitions in the upcoming year.
Geographic Footprint
- AGS has a significant presence in the U.S. and Asia, enhancing SpeedX's service offerings.
- AGS's current warehouse locations: New York, Chicago, Los Angeles, Miami, Atlanta, San Francisco, Dallas/Fort Worth, Toronto, Portland, Oregon.

Service Differentiation
- SpeedX aims to fulfill logistics needs for smaller and mid-sized companies at competitive rates compared to legacy delivery services.
- Focus on providing integrated service for delivery from China and customs clearance in the U.S.
Innovative Delivery Method
- SpeedX's zone-skipping program inaugurated in April enables two and three-day delivery by leveraging its warehouse network.
- Process involves injecting parcels into the USPS network at distribution centers, addressing inefficiencies seen in traditional delivery methods.

SpeedX Overview
- Launched next-day and second-day delivery service in New York City two years ago, responding to a surge in online orders during the pandemic.
- Current reach: Over 9,000 ZIP codes; has delivered 45 million parcels to date.
- Target for 2025: Approximately 500,000 daily parcel deliveries.
AGS Operations
- AGS services various industries including fast fashion, automotive, healthcare, technology, metal, seafood, and e-commerce.
- Manages outbound shipments from ports in China and Southeast Asia.