Editing FedEx (section)

== History ==

=== Foundation and early history ===

[[File:First FedEx van Memphis TN 2013-05-17 002.jpg|thumb|right|FedEx's first van displayed at the FedEx World Headquarters]]

{{For|history prior to its 1997 reorganization|FedEx Express}}

The company was founded in [[Little Rock, Arkansas]], in 1971 as '''Federal Express Corporation''' by [[Frederick W. Smith]], a graduate of [[Yale University]]. He drew up the company's concept in a term paper at Yale, in which he called for a system specifically designed for urgent deliveries. While his professor didn't think much of the idea,{{citation needed|date=July 2024}} Smith pressed on. He began formal operations in 1973, when he moved operations to [[Memphis, Tennessee|Memphis]]. Smith said he chose [[Memphis International Airport]] for being near the mean population center of the country and for its placid weather.<ref name="AboutFedEx" />

The company grew rapidly, and by 1983 had a billion dollars in revenue, a rarity for a startup company that had never taken part in mergers or acquisitions in its first decade.{{citation needed|date=July 2024}} It expanded to Europe and Asia in 1984. In 1988, it acquired one of its major competitors, [[Flying Tiger Line]], creating the largest full-service cargo airline in the world. In 1994, Federal Express shortened its name to "FedEx" for marketing purposes, officially adopting a nickname that had been used for years.<ref name="AboutFedEx" />

=== Reorganization and Caliber acquisition ===

[[File:FEDEX MD-11F(AF) (N612FE48605555).jpg|thumb|A Federal Express [[McDonnell Douglas MD-11]] at [[Narita International Airport]] in 1995]]

On October 2, 1997, FedEx reorganized as a holding company, '''FDX Corporation''', a [[Delaware General Corporation Law|Delaware corporation]].<ref name=":6">Delaware Department of State, Division of Corporations, [https://delecorp.delaware.gov/tin/controller Online Services] {{webarchive |url=https://web.archive.org/web/20110721035421/https://delecorp.delaware.gov/tin/controller |date=July 21, 2011 }}; File No. 2803030.</ref> The new holding company began operations in January 1998, with the acquisition of [[Caliber System|Caliber System Inc.]] by Federal Express. With the purchase of Caliber, FedEx started offering other services besides express shipping. Caliber subsidiaries included RPS, a small-package ground service; Roberts Express, an expedited shipping provider; Viking Freight, a regional, [[Less-than-truckload shipping|less-than-truckload]] [[Freight company|freight carrier]] serving the Western United States; Caribbean Transportation Services, a provider of airfreight forwarding between the United States and the Caribbean; and Caliber Logistics and Caliber Technology, providers of logistics and technology services. FDX Corporation was founded to oversee all of the operations of those companies and its original air division, Federal Express.<ref name="AboutFedEx" />

In January 2000, FDX Corporation changed its name to '''FedEx Corporation''' and re-branded all of its subsidiaries. Federal Express became FedEx Express, RPS became [[FedEx Ground]], Roberts Express became FedEx Custom Critical, and Caliber Logistics and Caliber Technology were combined to comprise FedEx Global Logistics. A new subsidiary, called FedEx Corporate Services, was formed to centralize the sales, marketing, and customer service for all of the subsidiaries. In February 2000, FedEx acquired Tower Group International, an international logistics company. FedEx also acquired WorldTariff, a [[customs duty]] and tax information company; TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks.<ref name="AboutFedEx" />

=== 21st century ===

[[File:FedEx Truck Downtown Miami (25706470807).jpg|thumb|FedEx Express [[delivery van]] in [[Miami]]]]

FedEx Corp. acquired privately held [[Kinko's|Kinko's, Inc.]] in February 2004 and re-branded it FedEx Kinko's. The acquisition was made to expand FedEx's retail access to the general public. After the acquisition, all FedEx Kinko's locations offered only FedEx shipping.<ref name="AboutFedEx" /> In June 2008, FedEx announced that they would be dropping the Kinko's name from their ship centers; FedEx Kinko's would now be called [[FedEx Office]].<ref>[http://blog.marketingdoctor.tv/2008/06/03/marketing-101-fed-ex.aspx " The Marketing Doctor Says: FedEx Does It Again!"] {{Webarchive|url=https://web.archive.org/web/20090605025342/http://blog.marketingdoctor.tv/2008/06/03/marketing-101-fed-ex.aspx |date=June 5, 2009 }} Marketing Doctor Blog. June 3, 2008.</ref><ref>{{cite web |author1=Ernest Beck |title=FedEx Ditches Kinko's |url=http://www.businessweek.com/innovate/content/jun2008/id2008069_075908.htm |website=Business Week |publisher=The McGraw-Hill Companies |access-date=20 June 2023 |archive-url=https://web.archive.org/web/20080612233204/http://www.businessweek.com/innovate/content/jun2008/id2008069_075908.htm |archive-date=June 12, 2008 |language=en-US |date=June 9, 2008 |url-status=dead}}</ref> In September 2004, FedEx acquired Parcel Direct, a parcel consolidator, and re-branded it FedEx SmartPost.<ref name="AboutFedEx" />

In April 2015, FedEx acquired their rival firm [[TNT Express]] for €4.4 billion ($4.8 billion; £3.2 billion) as it looked to expand their operations in Europe.<ref>{{Cite news |date=April 7, 2015 |title=FedEx to buy rival TNT Express for €4.4bn |work=BBC News |url=https://www.bbc.co.uk/news/business-32200600 |access-date=June 21, 2018 |archive-date=July 12, 2020 |archive-url=https://web.archive.org/web/20200712025200/https://www.bbc.co.uk/news/business-32200600 |url-status=live }}</ref><ref>{{Cite news |date=April 8, 2015 |title=FedEx to buy Dutch Delivery Company TNT for 4.4 billion euros |publisher=news.biharprabha.com |agency=Reuters |url=http://news.biharprabha.com/2015/04/fedex-to-buy-dutch-delivery-company-tnt-for-4-4-billion-euros/ |access-date=April 8, 2015 |archive-date=April 11, 2015 |archive-url=https://web.archive.org/web/20150411033330/http://news.biharprabha.com/2015/04/fedex-to-buy-dutch-delivery-company-tnt-for-4-4-billion-euros/ |url-status=live }}</ref>

In February 2016, FedEx announced the launch of FedEx Cares, a global giving platform, and committed to invest $200 million to strengthen more than 200 communities by 2020.<ref>{{Cite web |title=Timeline |url=https://about.van.fedex.com/our-story/history-timeline/timeline/ |access-date=2019-05-30 |website=About FedEx |archive-date=November 17, 2019 |archive-url=https://web.archive.org/web/20191117193513/https://about.van.fedex.com/our-story/history-timeline/timeline/ |url-status=dead }}</ref><ref>{{Cite web |last=Candid |title=FedEx Launches $200 Million Giving Initiative |url=http://philanthropynewsdigest.org/news/fedex-launches-200-million-giving-initiative |access-date=2019-05-30 |website=Philanthropy News Digest (PND) |archive-date=September 19, 2020 |archive-url=https://web.archive.org/web/20200919161456/http://philanthropynewsdigest.org/news/fedex-launches-200-million-giving-initiative |url-status=live }}</ref>

In March 2018, FedEx announced the acquisition of P2P Mailing Limited, a last-mile delivery service, for £92 million to expand their portfolio.<ref>{{Cite web |title=FedEx Expanding E-Commerce Capabilities with Acquisition of P2P |url=http://investors.fedex.com/news-and-events/investor-news/news-release-details/2018/FedEx-Expanding-E-Commerce-Capabilities-with-Acquisition-of-P2P/default.aspx |access-date=2019-05-30 |website=investors.fedex.com |archive-date=September 19, 2020 |archive-url=https://web.archive.org/web/20200919084456/http://investors.fedex.com/news-and-events/investor-news/news-release-details/2018/FedEx-Expanding-E-Commerce-Capabilities-with-Acquisition-of-P2P/default.aspx |url-status=live }}</ref>

In June 2019, FedEx announced they would not be renewing their $850 million contract with [[Amazon (company)|Amazon]] for the company's U.S. domestic express delivery business. Amazon accounted for 1.3 percent of 2018 revenues.<ref>{{Cite news |last=Albert-Deitch |first=Cameron |date=2019-06-10 |title=Amazon's Vendor Purge and FedEx Cancellation Prove 1 Thing: Startups Need to Watch Out |work=[[Inc. (magazine)|Inc.]] |url=https://www.inc.com/cameron-albert-deitch/amazon-fedex-vendor-purge-startups.html |access-date=2019-06-10 |archive-date=September 25, 2020 |archive-url=https://web.archive.org/web/20200925164502/https://www.inc.com/cameron-albert-deitch/amazon-fedex-vendor-purge-startups.html |url-status=live }}</ref> In August 2019, FedEx announced the termination of ground deliveries for Amazon as well.<ref>{{Cite web |title=FedEx to end ground delivery business with Amazon |url=https://news.yahoo.com/fedex-severs-ties-amazon-135119289.html |access-date=2019-08-08 |website=news.yahoo.com |date=August 7, 2019 |archive-date=July 31, 2020 |archive-url=https://web.archive.org/web/20200731131008/https://news.yahoo.com/fedex-severs-ties-amazon-135119289.html |url-status=live }}</ref>

In December 2020, FedEx acquired ShopRunner, an e-commerce platform.<ref>{{Cite web |date=December 28, 2020 |title=FedEx completes acquisition of ShopRunner to bolster e-commerce |url=https://www.bizjournals.com/memphis/news/2020/12/28/fedex-completes-acquisition-shoprunner.html |publisher=Bizjournal |access-date=February 7, 2021 |archive-date=December 31, 2020 |archive-url=https://web.archive.org/web/20201231021753/https://www.bizjournals.com/memphis/news/2020/12/28/fedex-completes-acquisition-shoprunner.html |url-status=live }}</ref>

On March 29, 2022, founder [[Frederick W. Smith]] announced he would be retiring as CEO and become executive chairman effective June 1, 2022. The company named [[Raj Subramaniam]], FedEx's current president and COO, as Smith's successor.<ref>{{cite news |last1=Watts |first1=Micaela A. |title=FedEx founder Fred Smith to step down as CEO; Raj Subramaniam to succeed him |url=https://www.commercialappeal.com/story/money/industries/logistics/2022/03/28/fedex-fred-smith-ceo-raj-subramaniam/4455316001/ |access-date=1 April 2022 |work=[[The Commercial Appeal]] |date=March 28, 2022 |archive-date=March 31, 2022 |archive-url=https://web.archive.org/web/20220331045437/https://www.commercialappeal.com/story/money/industries/logistics/2022/03/28/fedex-fred-smith-ceo-raj-subramaniam/4455316001/ |url-status=live }}</ref><ref>{{Cite web |date=2022-03-28 |title=FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith |url=https://www.cnbc.com/2022/03/28/fedex-names-raj-subramaniam-as-ceo-replacing-founder-frederick-smith.html |access-date=2022-03-29 |website=CNBC |language=en |archive-date=March 29, 2022 |archive-url=https://web.archive.org/web/20220329144846/https://www.cnbc.com/2022/03/28/fedex-names-raj-subramaniam-as-ceo-replacing-founder-frederick-smith.html |url-status=live }}</ref>

===Proposed spin-off of freight truck business===
On December 19, 2024, FedEx announced that it would spin-off its freight truck division as a separate publicly-traded company as part of a major corporate restructuring, scheduled to be completed within 2025. The spun-off freight truck company will retain the FedEx Freight name.<ref>{{cite web|url=https://newsroom.fedex.com/newsroom/global-english/fedex-announces-intent-to-separate-fedex-freight-creating-two-industry-leading-public-companies|title=FedEx Announces Intent to Separate FedEx Freight, Creating Two Industry-Leading Public Companies|date=2024-12-19|access-date=2024-12-27|work=FedEx}}</ref>