FedEx Corporation is an American multinational delivery services company that provides courier, logistics, and supply chain management services. It was founded in 1971 by Frederick W. Smith and has its headquarters in Memphis, Tennessee. The company's name "FedEx" stands for Federal Express, which was the original air division of the company that provided air cargo services. Today, FedEx operates in over 220 countries and territories worldwide and employs over 500,000 people.
FedEx offers a variety of delivery services, including FedEx Express, which provides next-day air delivery, and FedEx Ground, which provides ground shipping services. The company also offers FedEx Freight, which provides less-than-truckload (LTL) freight services, and FedEx Office, which provides printing, copying, and shipping services to businesses and individuals. In addition, the company has expanded its services to include e-commerce solutions, such as FedEx CrossBorder, which provides international shipping and customs clearance services for e-commerce businesses.
FedEx went public on December 12, 1978, and is listed on the New York Stock Exchange (NYSE) under the ticker symbol FDX. The company raised $20.1 million in its initial public offering (IPO), with the funds being used to expand its delivery services and purchase additional aircraft. Since then, FedEx has grown significantly and is now one of the largest delivery services companies in the world, with a market capitalization of over $75 billion as of May 2023.