TruckItNow Awarded $139,000 Arizona Commerce Authority Grant

Great news! My team and I learned today that the Arizona Commerce Authority awarded our start-up TruckItNow, Inc. a grant under the Arizona Innovation Challenge program. TruckItNow will receive up to $139,000 under the terms of the grant to commercialize our flagship product, Post.Bid.Ship.℠

TruckItNow, along with 107 other Arizona start-up companies, applied for an Arizona Innovation Challenge grant in December 2010. In late January 2011, the Arizona Commerce Authority notified TruckItNow that it qualified as a semi-finalist, ranking in the top 25 out of the 108 applicants. Today, the Arizona Commerce Authority publicly announced the first five grant recipients, including TruckItNow.

“We are excited and humbled to join such a distinguished group of Arizona Innovation Challenge grant recipients. We look forward to putting these funds to good use – creating jobs for Arizonans and continuing to build a successful company,” stated Micky Thompson, Chief Executive Officer for Post.Bid.Ship.

A key requirement of the Arizona Innovation Challenge grant is the recipient’s ability to bring its product to market by September 2011. Post.Bid.Ship. launched the first version of its product in December 2010, with the full release expected in April 2011.

“We would like to thank Governor Jan Brewer and her staff, along with the Arizona Commerce Authority staff, for their strong commitment to growing Arizona’s economy by investing in entrepreneurial companies, and for their confidence in Post.Bid.Ship.,” said Jarret Hamstreet, Chief Operations Officer for Post.Bid.Ship.

Post.Bid.Ship. allows shippers of commercial goods to post their freight loads to www.postbidship.com. Trucking companies and other transportation providers then search for loads that they wish to haul and submit competitive bids. The shipper selects a winning bid, with Post.Bid.Ship. receiving a finder’s fee from the winning bidder.

Each side of the transportation market – shippers of commercial goods and transportation providers – will benefit from participating in Post.Bid.Ship.’s “Transportation Marketplace of the 21st Century.”

Shippers will reduce their transportation costs by receiving competitive bids and more easily manage their transportation providers. Transportation providers will increase revenues by selling excess trailer capacity to a nationwide audience of shippers.