FedEx company profile

Find out about FedEx, a company best known for its air delivery service

FedEx is best known for its global package delivery service. The company was previously known as FDX Corporation and before that it was called Federal Express Corporation.

FedEx was set up in 1971 by Yale University graduate Frederick W Smith. He came up with the idea of a company specialising in urgent deliveries while working on a study paper.

Smith’s first idea was to pick up cheques from the 12 Federal Reserve banks in the United States, hence the name Federal Express. The idea was to deliver them to the federal reserve member banks by the next day. Then he took out a loan from a family trust fund to buy two jets from Pan-Am.

But the Federal Reserve changed its mind. Smith had to create a new company to pay back the $3.6m debt he had taken out. He decided to provide a USA-wide delivery service for both businesses and consumers.

Smith set up the company in 1971 in Little Rock, Arkansas. By the time FedEx began operating in 1973, it had relocated to Memphis. The city’s location was ideal; it has an international airport and it was a centre for trading goods for imports and exports.

FedEx timeline

FDX price history

Date Close Change Change(%) Open High Low
Oct 15, 2021 228.67 1.41 0.62% 227.26 229.25 225.76
Oct 14, 2021 227.56 3.38 1.51% 224.18 228.32 223.52
Oct 13, 2021 223.63 4.34 1.98% 219.29 225.01 218.61
Oct 12, 2021 220.28 1.81 0.83% 218.47 221.77 218.47
Oct 11, 2021 219.17 -2.36 -1.07% 221.53 224.29 219.12
Oct 8, 2021 222.80 0.29 0.13% 222.51 223.69 221.17
Oct 7, 2021 222.76 -0.31 -0.14% 223.07 227.23 221.77
Oct 6, 2021 224.07 2.28 1.03% 221.79 224.64 219.62
Oct 5, 2021 223.77 6.86 3.16% 216.91 226.20 216.03
Oct 4, 2021 217.39 -3.09 -1.40% 220.48 223.75 217.02
Oct 1, 2021 222.07 4.74 2.18% 217.33 223.86 216.77
Sep 30, 2021 219.62 -1.91 -0.86% 221.53 222.90 218.79
Sep 29, 2021 221.24 -0.71 -0.32% 221.95 223.90 220.52
Sep 28, 2021 222.52 -2.24 -1.00% 224.76 227.71 221.53
Sep 27, 2021 226.04 0.28 0.12% 225.76 229.00 224.76
Sep 24, 2021 226.40 -1.48 -0.65% 227.88 228.56 226.26
Sep 23, 2021 228.77 -0.87 -0.38% 229.64 231.03 227.83
Sep 22, 2021 229.51 -10.24 -4.27% 239.75 240.65 228.74
Sep 21, 2021 239.51 -12.93 -5.12% 252.44 253.56 239.00
Sep 20, 2021 251.39 -0.50 -0.20% 251.89 253.62 247.74

What other companies does FedEx own?

FedEx also owns FedEx Ground, FedEx Office, FedEx Supply Chain, FedEx Freight. FedEx SmartPost is contracted by the US government to help with delivering packages for the United States Postal Service.

What is FedEx best known for?

FedEx was featured in the film Cast Away. It also owns the naming rights to FedExField of the NFL’s Washington Football Team and FedExForum of the NBA’s Memphis Grizzlies. 

Almost all of FedEx’s customers are businesses where the person using it is not paying for the service out of their own pocket. 

Who owns FedEx company?

The founder Frederick W Smith is chairman and chief executive officer of FedEx.

Where is FedEx company located?

FedEx’s headquarters are in Memphis, Tennessee. In fact, its air shipping services have made the airport – Memphis International Airport – the busiest cargo airport in the western hemisphere, and second-busiest cargo airport in the world behind Hong Kong.

More Fed Ex facts

  • FedEx handles around 18 million packages a day

  • It owns 680 airplanes 

  • FedEx has the largest cargo fleet in the world

  • FedEx created the tracking number and more than 400 million tracking requests are received by FedEx every day

  • FedEx has transported some of the world’s most valuable artifacts including Egyptian treasures and one of the world’s endangered species - the white tiger

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