FedEx was founded on May 5, 1971, in Little Rock, Arkansas, by Frederick W. Smith, who first outlined the idea in a Yale University term paper, and began formal operations in 1973 after moving its hub to Memphis, Tennessee. It is now an American multinational holding company specializing in transportation, e-commerce and business services, operating through divisions including FedEx Express, FedEx Ground, FedEx Freight and FedEx Office from about 2,000 locations worldwide, with roughly 452,000 employees and its central air hub at Memphis International Airport. For fiscal 2025 FedEx reported revenue of $87.9 billion and operating income of $5.22 billion, trading on the New York Stock Exchange as FDX and ranking as a component of the S&P 500. Its primary competitor in the United States and most international markets is United Parcel Service.
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