UPS, which stands for United Parcel Service, is a popular American multinational package delivery and supply management company. UPS has other divisions and subsidiaries as well, such as UPS Airlines, UPS Freight, and UPS Flight Forward. The company has its headquarters in Sandy Springs, Georgia, U.S. The net income of UPS for the twelve months ending December 31, 2019, was $4.440 Billion.
American Businessman James Casey, along with Claude Ryan, founded the American Messenger Company in Seattle, Washington, the U.S., on the 28th of August 1907. Years later, in 1913, UPS bought Model T Ford and used it as its 1st delivery service. In the same year, Evert McCabe, merged his Motorcycle Delivery Company with American Messenger Company, leading to the formation of Merchants Parcel Delivery. The biggest change that came out of this was packaged were being loaded into one vehicle that belonged to a certain part of the neighbourhood. In the year 1919, the company expanded and changed its name to United Parcel Service.
The company started operating in Canada in 1975 and the following year, and it started operating in Germany. UPS, Canada’s head office, is located in Burlington, Ontario. In 1985, UPS Next Day Air Service was launched to serve in the 48 contiguous states of the United States along with Puerto Rico. Today, UPS Airlines is considered as one of the largest airlines in the U.S. 7 years later, in 1992, UPS acquired Haulfast and Carryfast and created the UPS Supply Chain Solutions.
In the same year, it began tracking ground shipments electronically and just a couple of years later launched UPS.com. In the year 2001, UPS acquired Mail Boxes, Etc., Inc., and two years later, it was rebranded as The UPS Store. UPS purchased Menlo Worldwide Forwarding in 2004 and rebranded it as UPS Supply Chain Solutions. In October of 2019, UPS got the approval of the Federal Aviation Administration to fly drones following which they would be able to deliver health care supplies with the help of drones.
Awards & Achievements
Here is a list covering some of the Awards & Achievements earned by UPS over the years:
- UPS was the winner of The Executive Leadership Council’s 2019 Corporate Award for Support of Black Executives and Diversity & Inclusion.
- UPS was named as one of the most admired companies in the world in 2020 by FORTUNE magazine.
- UPS was the winner of the 2018 Supply Chain Dive Company of the Year Award.
- UPS was named as the World’s Most Valuable Logistics Brand by BrandFinance.
Net Worth of UPS in 2023
As of June 2023,, UPS has a net worth $80 Billion. It’s only natural that UPS has such an amazing net worth as it not only operates in the US but in several other countries as well. Also, it has other divisions and subsidiaries as well, such as UPS Airlines, UPS Freight, and UPS Flight Forward, which has been greatly successful, which has further boosted the company’s net worth.