– Tzeng brings enterprise AI product expertise to
connect shippers and carriers intelligently, sustainably, and
at scale –
NEW
YORK, Aug. 11, 2022 /PRNewswire/ -- Transfix,
Inc. ("Transfix"), the Intelligent Freight Platform™, today
announced Tony Tzeng has joined as
the company's first-ever Chief Product Officer. He will lead
product strategy, execution, and innovation serving shippers and
carriers across the Transfix portfolio. Tzeng's expertise is in
enterprise AI, and he joins Transfix from UiPath, a leading
enterprise automation software vendor, where he served as VP of
Product Management for AI products. Prior to that he served as
Principal Lead Product Manager at Microsoft.
"When your goal is to revolutionize the supply chain, you need
big thinkers, innovators and operators who make it a reality for
your customers. Tony is one of those executives who has it all,"
said Lily Shen, CEO and President of
Transfix. "His experience driving product and platform strategies,
coupled with his AI and ML expertise, will help to accelerate our
vision of delivering an Intelligent Freight Platform that powers
modern, reliable, and resilient supply chain performance at
scale.
Tzeng brings 20 years of product and strategy development
experience. Most recently, at UiPath, he oversaw the full product
life cycle from assessing product/market fit to incubation, product
vision, roadmap, launch, and acceleration. While leading the
product division for AI-driven automations and a Machine Learning
operations platform, he launched new products and grew the
portfolio to multi-million dollar businesses that are now growth
engines and differentiators for UiPath.
At Microsoft, he led the product team developing cloud and AI
solutions for next-gen virtual customer service, giving AI bots
groundbreaking levels of accessibility. He also incubated
enterprise AI solutions as part of AI+ Research, leading product
teams that contributed useful features to well-known software like
Dynamics 365 and Microsoft Office. Tzeng also held senior-level
positions at McKinsey & Company and Deloitte Consulting.
"Transfix has all the pieces for an iconic success story–
talented and passionate people, outstanding engineering practices,
a data-driven product suite, and a winning corporate culture," said
Tzeng. "I'm proud to be a part of that story, and I look forward to
creating a smarter, more sustainable future for freight."
Tzeng earned his Bachelor of Science in Computer Science at
Stanford University and his Masters of
Business Administration with Honors at The Wharton School of The
University of Pennsylvania.
As announced on September 21,
2021, Transfix has entered into a definitive business
combination agreement, as subsequently amended, with G Squared
Ascend I Inc. ("G Squared Ascend I") (NYSE: GSQD), a special
purpose acquisition company sponsored by affiliates of G Squared,
that is expected to result in Transfix becoming a publicly listed
company. Completion of the business combination is subject to
customary closing conditions.
About Transfix
Transfix drives modern supply chain impact at scale with its
Intelligent Freight Platform™. By combining enterprise-grade,
machine-learning technology with intuitive software and dedicated
supply chain experts, Transfix is enabling organizations to deliver
with high performance and high reliability, drive long-term
strategy and capacity planning, take empty miles off the road, and
optimize their networks, at scale. Today, Transfix connects
shippers to nearly 30,000 carriers with real-time, many-to-many
freight matching and the visibility they need to make their supply
chains more efficient and environmentally responsible. Learn more
at Transfix.io.
About G Squared
G Squared is a global venture capital firm that partners with
dynamic companies throughout their life cycles as a complete
capital solutions provider, working to create value for companies,
investors, employees, and other stakeholders. The firm focuses on
investments in growth-stage technology companies and has invested
in over 100 portfolio companies since it was founded in 2011. The
firm's affiliate, G Squared Ascend I Inc. ("G Squared Ascend I"),
offers transformative private companies a path to public markets
via SPAC. For more information on G Squared and its portfolio,
visit: www.gsquared.com. For more information on G Squared Ascend
I, visit: www.gsquaredascend.com.
Media Contact
Chelsea Horn, Carve
Communications for Transfix
chelsea@carvecomms.com
(210) 378-8580
Investor Contact
Investors@transfix.io
Important Information and Where to
Find It
In connection with the proposed business combination involving G
Squared Ascend I and Transfix, Transfix Holdings, Inc. ("Transfix
Holdings") has filed a registration statement on Form S-4, as
amended (the "Registration Statement") with the Securities and
Exchange Commission (the "SEC"). The Registration Statement
includes a proxy statement of G Squared Ascend I and a prospectus
of Transfix Holdings. Additionally, G Squared Ascend I and Transfix
Holdings will file other relevant materials with the SEC in
connection with the business combination. Copies may be obtained
free of charge at the SEC's website at www.sec.gov. Security
holders of G Squared Ascend I are urged to read the proxy
statement/prospectus and the other relevant materials when they
become available before making any voting decision with respect to
the proposed business combination because they will contain
important information about the business combination and the
parties to the business combination and related matters. The
information contained on, or that may be accessed through, the
websites referenced in this communication is not incorporated by
reference into, and is not a part of, this communication.
Participants in the
Solicitation
G Squared Ascend I and its directors and officers may be deemed
participants in the solicitation of proxies of G Squared Ascend I's
stockholders in connection with the proposed business combination.
Transfix and its officers and directors may also be deemed
participants in such solicitation. Security holders may obtain more
detailed information regarding the names, affiliations and
interests of certain of G Squared Ascend I's executive officers and
directors in the solicitation by reading G Squared Ascend I's
Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on
April 13, 2022, and the proxy
statement/prospectus and other relevant materials filed with the
SEC in connection with the business combination when they become
available. Information concerning the interests of G Squared Ascend
I's participants in the solicitation, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the proxy statement/prospectus relating to the business
combination when it becomes available.
No Offer or Solicitation
This communication is for informational purposes only and is not
intended to and shall not constitute a proxy statement or the
solicitation of a proxy, consent or authorization with respect to
any securities in respect of the proposed business combination and
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities or constitute a solicitation of any
vote or approval, nor shall there be any sale, issuance or transfer
of securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
Forward Looking
Statements
The information in this communication may contain statements
that are not historical facts but are "forward-looking statements''
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and within the meaning of "safe harbor" provisions under
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of present or historical fact
included in this communication, regarding G Squared Ascend I's
proposed business combination with Transfix, G Squared Ascend I's
ability to consummate the transaction, the benefits of the
transaction and the combined company's future financial
performance, as well as the combined company's strategy, future
operations, estimated financial position, estimated revenues and
losses, projected costs, prospects, plans and objectives of
management are forward-looking statements. When used in this
communication, the words "could," "should," "will," "may,"
"believe," "anticipate," "intend," "estimate," "expect," "project,"
the negative of such terms and other similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management's current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law, G
Squared Ascend I and Transfix disclaim any duty to update any
forward-looking statements, all of which are expressly qualified by
the statements in this section, to reflect events or circumstances
after the date of this communication. G Squared Ascend I and
Transfix caution you that these forward-looking statements are
subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of
either G Squared Ascend I or Transfix. In addition, G Squared
Ascend I and Transfix caution you that the forward-looking
statements contained in this communication are subject to the
following factors: (i) the occurrence of any event, change or other
circumstances that could delay the business combination or give
rise to the termination of the agreements related thereto; (ii) the
outcome of any legal proceedings that may be instituted against G
Squared Ascend I or Transfix following announcement of the
transactions; (iii) the inability to complete the business
combination due to the failure to obtain approval of the
shareholders of G Squared Ascend I, or other conditions to closing
in the transaction agreement; (iv) the risk that the proposed
business combination disrupts G Squared Ascend I's or Transfix's
current plans and operations as a result of the announcement of the
transactions; (v) Transfix's ability to realize the anticipated
benefits of the business combination, which may be affected by,
among other things, competition and the ability of Transfix to grow
and manage growth profitably following the business combination;
(vi) costs related to the business combination; (vii) changes in
applicable laws or regulations; (viii) rollout of Transfix's
business and the timing of expected business milestones, (ix) the
effects of competition on Transfix's business, (x) supply shortages
in the materials necessary for the production of Transfix's
products, (xi) risks related to original equipment manufacturers
and other partners being unable or unwilling to initiate or
continue business partnerships on favorable terms, (xii) the
termination or reduction of government clean energy and electric
vehicle incentives, (xiii) delays in the construction and operation
of production facilities, (xiv) the amount of redemption requests
made by G Squared Ascend I's public stockholders, (xv) changes in
domestic and foreign business, market, financial, political and
legal conditions, and (xvi) the possibility that Transfix may be
adversely affected by other economic, business, and/or competitive
factors. Should one or more of the risks or uncertainties described
in this communication, or should underlying assumptions prove
incorrect, actual results and plans could differ materially from
those expressed in any forward-looking statements. You should
carefully consider the risks and uncertainties described in the
"Risk Factors" section of G Squared Ascend I's final prospectus
filed with the SEC on February 8,
2021 and its Annual Report on Form 10-K for the year ended
December 31, 2021 filed with the SEC
on April 13, 2022, and other
documents of G Squared Ascend I filed, or to be filed, including
the proxy statement/prospectus, with the SEC. Additional
information concerning these and other factors that may impact the
operations and projections discussed herein can be found in G
Squared Ascend I's filings with the SEC. G Squared Ascend I's SEC
filings are available publicly on the SEC's website at
www.sec.gov.
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SOURCE Transfix