After talking to numerous sources in the US, here is a list of top suppliers in the moving industry today as requested in a couple posts back. Note, not one brought up or mentioned Updater or MoveHQ as a top provider anymore since they merged in 2017. It was made very clear that Updater/MoveHQ is now not really part of the industry and instead, against it.
Relocity https://www.relocity.com One of the top growing software companies servicing the industry today. All my resources discussed them as a leader and innovator that is partnering with top companies within the industry and growing quickly.
Yembo https://yembo.ai Yembo is changing the industry by using AI in all their systems. A younger company that is making huge inroads with all van lines.
Move4U https://move4u.com This was the original supplier chosen by the military to provide technology to the project. Rumor has it that they are looking at them again.
CEND https://cend.com Only a couple years old but has international industry leaders as board members and investors. These include Graebel, Asian Tiger, past UniGroup and SIRVA C-Level leaders plus the past Founder and President of MoveHQ (The CIO). Bonus: Their COO is from Australia. From my sources at two Van Lines, their technology is next level. Also, they just acquired another company within the industry who specializes in International pricing and suppliers.
My opinions on comments above: Dolly is an issue with the entire industry and not just MoveHQ. With the purchasing of MoveHQ and Dolly, they drew a line in the sand against the industry. Updater, MoveHQ and Dolly are now companies no one wants to work with, and they have zero leverage over the Van Lines.
Updaters Services – These types of services are now offered by several suppliers within the industry and that list is growing. Updater could have and should have dominated but lost the window of opportunity because their leadership got cocky.
Don’t you think it’s odd that Updater has not released a 3rd quarter call yet? My opinion is that they know things are going south with the military contract and are trying to put together a plan to lessen the blow to the investors. I wouldn’t trust anything they say after blowing over $700 million of investor money on bad ideas. Cheers!
UPD Price at posting:
99.5¢ Sentiment: Sell Disclosure: Held
