J.B. Hunt: From Asset Fleet to Freight Marketplace
“Digital transformation means nothing if you can’t deliver the load.”
When people talk about freight-tech, they usually start with Flexport, Convoy, or Uber Freight. But I’d argue that one of the most underrated logistics tech stories in the U.S. isn’t a startup at all. It’s J.B. Hunt.
Started in 1961 with just five trucks and seven trailers, J.B. Hunt has grown into a $14.8 billion logistics operation with one of the largest fleets in North America. But the real shift happened in 2017, when they decided to stop thinking like just a trucking company—and launched J.B. Hunt 360°, their digital freight marketplace.
Most digital platforms built apps. JB Hunt built off real infrastructure. And the results are starting to show.
A Legacy Carrier with Deep Roots
J.B. Hunt started in Arkansas hauling rice hulls. By the 1980s, it had already gone public and begun scaling contract carriage. The real breakthrough came in 1989 when Hunt partnered with BNSF Railway to launch its intermodal business—something few trucking companies were willing to do at the time.
Fast-forward to today: intermodal is now one of its largest revenue streams, and the partnership with BNSF still accounts for over half of its rail volume. In fact, intermodal represented approximately 49% of J.B. Hunt’s total revenue and 52% of its operating income as of 2024. That makes it not just a service offering—it’s the financial engine of the business.
Unlike many competitors, Hunt didn’t try to do everything at once. It slowly layered on capabilities—dedicated trucking, logistics services, brokerage, and finally digital freight matching. Each layer was built with scale in mind.
J.B. Hunt 360°: Building a Marketplace with Real Trucks
The J.B. Hunt 360° platform launched in 2017 with one goal: connect shippers and carriers more efficiently. But this wasn’t a pivot—it was an extension of what they were already doing at scale. Over the next few years, the company poured over $500 million into its tech stack, building out carrier portals, real-time visibility, automated booking, pricing intelligence, and API integrations.
By 2023, over $1 billion in freight volume was moving through 360° annually. And unlike other platforms that depend on third-party capacity only, Hunt had a unique advantage: a hybrid model. They could combine their own assets with brokered capacity to flex around demand while keeping service levels high.
As of last year, J.B. Hunt reported having more than 1 million trucks onboarded to its 360° carrier network. That number rivals what Uber Freight claims—except Hunt didn’t have to burn venture capital to get there.
Why the Hybrid Model Matters
Digital freight marketplaces are hard to scale without reliability. And reliability is where Hunt wins. They operate over 12,000 company-owned trucks, manage 450+ facilities, and move freight across intermodal lanes that span 100,000+ containers with BNSF.
When customers use J.B. Hunt 360°, they aren’t gambling on unknowns—they’re choosing a provider that can flex across:
Dedicated contract fleets for stability
Intermodal for long-haul cost efficiency
Brokerage for on-demand scalability
Final-mile services for retail and e-commerce
That’s what creates stickiness. It’s not just tech—it’s service delivery.
Financials That Back It Up
Let’s look at the numbers. In 2023, J.B. Hunt reported:
$14.8 billion in total revenue
$880 million in net earnings
40%+ of its operating income now coming from segments outside traditional trucking
Return on invested capital has consistently stayed in the low double digits, outperforming many pure-play digital brokers who still chase profitability. While platforms like Convoy imploded, Hunt absorbed market share and maintained discipline.
This isn’t a company betting the farm on disruption—it’s one monetizing every leg of the supply chain it already owns.
Leadership That Understands the Shift
Much of this transition is tied to Shelley Simpson, J.B. Hunt’s President and former EVP of People and Technology. She’s been with the company since 1994 and played a central role in the launch of J.B. Hunt 360°.
What I appreciate about Simpson is that she didn’t come in with a VC mindset—she came in with operator DNA. Under her leadership, the company has been able to align tech with operations, ensuring that digital investments actually make the core business better, not just flashier.
That alignment between leadership, tech, and execution is rare. Especially in trucking.
Owning the Rails and the Algorithm
The logistics space is full of startups trying to “Uberize” freight. But J.B. Hunt is playing a different game. They already have the freight. They already have the infrastructure. And now, they’ve layered on a digital experience that helps them win on both price and reliability.
That’s why they don’t need to burn cash to grow—they can scale into contracts, expand through brokerage, and deliver through assets. The stack is already there.
If you ask me, the next decade of freight won’t be about who has the sleekest UI—it’ll be about who can integrate digital workflows without dropping service. And right now, that’s J.B. Hunt’s race to lose.
