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.
FDX price history
|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