By Sarah Mauet
“We have already filed TruckItNow as an Arizona LLC,” says Thompson. “Our next step is to develop a prototype website that will be ready for beta testing this fall.”
TruckItNow.com is an online marketplace where shippers can post loads for free and carriers compete for those loads. The venture was born when Hamstreet — whose family co-founded two trucking companies — and Thompson — who launched three successful technology companies — connected in the program.
They focused on creating a solution for an issue they identified in the $660 billion U.S. commercial trucking industry: shippers need to reduce transportation costs while carriers need to increase volume and load efficiency.
The TruckItNow solution? Automate the shipper-carrier relationship, providing financial and time savings to each. Currently, online “load boards” are the closest competition the company faces, but Hamstreet and Thompson say that these boards allow shippers to advertise available freight, but carriers respond via phone, and none offers an auction.