Ritchie Bros. takes controlling interest in VeriTread

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Ritchie Bros. has acquired controlling interest in VeriTread – a business that specializes in technology platforms for heavy-haul transportation. Its products include a marketplace to list and quote shipments, an in-house brokerage, and proprietary freight estimator tools, among other offerings. “VeriTread adds to our suite of services supporting the needs of equipment owners throughout the […]

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[MikeDs]

Good day everyone, is there anyone who already booked a load through VeriTread. If so, please share your experience, as we're now exploring the opportunity to start posting the bids, but first of all, we'd like to have more information. Thank you!

 

[T800]

Good day everyone, is there anyone who already booked a load through VeriTread. If so, please share your experience, as we're now exploring the opportunity to start posting the bids, but first of all, we'd like to have more information. Thank you!

They are the same as all the online platforms. Race to the bottom. Bunch of USA freight pimps on there and they bid CDN freight for nothing and we all know how that works out for the guy that is dumb enough to haul it.

 

[MikeDs]

Thank you for letting me know, sir. Do you know anything about the US loads?

 

[TBTrucking]

It takes about 5 minutes for loads to be taken off veritread and reposted on Truckstop by brokers from overseas. Veritread is a massive waste of time for all involved, were set up as a carrier and have landed 2 loads out of about 100 we have quoted. Not worth anymore investment of time.

For shippers, they are getting brokered, double brokers, and i am sure tripled brokered at times - there is no quality control to the carriers or any attention on compliance to protect the shipper.

 

[MikeDs]

Oh, understood now. This would be really helpful. Thanks a lot!

 

[NTravels]

Yeah, it's a crap shoot. I do land jobs, but I have to add sales tax to Canadian domestic freight, which makes me 5-15% higher than a US based provider who has no intention of filing with Revenue Canada, so those ones are tough to win. I do land some though, but I generally end up getting the USA to Canada, or Canada to USA hauls. With the slow market these days, it's even harder to win jobs, and most brokers are in a race to the bottom as T800 put it.