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AP Photo/David Goldman

Flexport, a San Francisco-based customs brokerage and freight forwarding service, has raised $110 million in Series C funding at an $800 million pre-money valuation, according to TechCrunch. Return backers include DST.

  • Why it matters: VCs get regularly criticized for piling into the shiniest new bauble, but they also will pay up for promising businesses in super-boring industries. Moreover, Flexport's growth – in terms of both volume and valuation – reflects how global trade continues to grow in spite of widespread protectionist rhetoric.
  • Bottom line from TechCrunch: "The company has over 400 employees in seven offices. It earns roughly 15% of the average $2,000 it costs to move a shipping container around the world, compared to 25% that its competitors charge."

Go deeper

6 hours ago - Health

Food banks feel the strain without holiday volunteers

People wait in line at Food Bank Community Kitchen on Nov. 25 in New York City. Photo: Michael Loccisano/Getty Images for Food Bank For New York City

America's food banks are sounding the alarm during this unprecedented holiday season.

The big picture: Soup kitchens and charities, usually brimming with holiday volunteers, are getting far less help.

8 hours ago - Health

AstraZeneca CEO: "We need to do an additional study" on COVID vaccine

Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

AstraZeneca CEO Pascal Soriot said on Thursday the company is likely to start a new global trial to measure how effective its coronavirus vaccine is, Bloomberg reports.

Why it matters: Following Phase 3 trials, Oxford and AstraZeneca said their vaccine was 90% effective in people who got a half dose followed by a full dose, and 62% effective in people who got two full doses.

Updated 11 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.

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