Farmers Business Network

Last updated
Farmers Business Network
Industry
Founded2014
Headquarters
San Carlos, California
,
Key people
  • Diego Casanello
  • (CEO)
  • Amol Deshpande
  • (Co-founder)
  • Charles Baron
  • (co-founder)
Number of employees
850 (approx.) (2021) [1]
Websitewww.fbn.com

Farmers Business Network (FBN) is a farmer-to-farmer network and e-commerce platform based out of San Carlos, California. [2] The company was co-founded by Amol Deshpande and Charles Baron, and launched as a startup in 2014. [1] [3] [4] Diego Casanello took over as CEO in 2024. [5] As of 2024, FBN has approximately 80,000 farmers in their network throughout the U.S. and Canada. [1]

In 2016, FBN launched an online input buying system called FBN Direct. [6] The platform aggregates data on seed prices and performances to assist farmers in agronomic resource management. [1]

U.S. Secretary of Agriculture Sonny Perdue speaks with FBN Co-founder Charles Baron at the company's 2019 Farmer2Farmer event in Omaha, Nebraska. Sonny-Perdue-Charles-Baron.jpg
U.S. Secretary of Agriculture Sonny Perdue speaks with FBN Co-founder Charles Baron at the company's 2019 Farmer2Farmer event in Omaha, Nebraska.
U.S. Secretary of Agriculture Sonny Perdue addresses Farmers Business Network's 2019 Farmer2Farmer Conference in Omaha, Nebraska. Sonny Perdue Farmer2Farmer Conference.jpg
U.S. Secretary of Agriculture Sonny Perdue addresses Farmers Business Network's 2019 Farmer2Farmer Conference in Omaha, Nebraska.

The company introduced their first non-GMO corn and soybean seed offerings with F2F Genetics Network in August 2018. [6] Some farmer members have reported saving thousands of dollars through the purchase of FBN seeds. [7] Later in 2018, FBN announced a partnership with Amazon. [6]

In 2019, U.S. Secretary of Agriculture Sonny Perdue attended FBN's annual Farmer2Farmer conference in Omaha, Nebraska, and gave a keynote speech. The event saw nearly 4,000 attendees. [8]

Anti-Competitive Interference by Incumbents

In February of 2020, a Canadian federal court issued subpoenas to a group of major agriculture companies in order to conduct an antitrust probe based on allegations that businesses cooperated in an attempt to block online farm-supply startup Farmers Business Network, Inc. (FBN). [9]

In 2020, the Wall Street Journal reported that the Canadian Competition Bureau was investigating allegations that Bayer, BASF, and Corteva engaged in anti-competitive practices toward FBN in Canada. [10] The investigation found that certain market players "engaged in communications with the goal of influencing manufacturers or wholesalers with respect to FBN." [11]

Company Growth and Expansion

In 2022, FBN partnered with the Environmental Defense Fund to provide financing incentives for farmers who implemented regenerative practices. [12] In 2023, the company launched an AI agronomy advisor to provide answers to farmer questions, such as combating pests, finding seed varieties, and preventing livestock diseases. [13] Also that year, FBN opened a 198,000 square foot fulfillment center in Saskatoon. [14] In March 2024, FBN surpassed $1 billion in financing provided through its farm operating lines. [15]

Early financial backers for FBN included Kleiner Perkins and GV. [1] [4]

References

  1. 1 2 3 4 5 Beck, Madelyn (April 22, 2019). "Silicon Valley Startup Aims For Transparency, One Seed Price At A Time". KCUR. Retrieved October 3, 2019.
  2. ↑ "Farmers Business Network just raked in a whopping $110 million in Series D funding". 30 November 2017.
  3. ↑ White, Steve (December 14, 2018). "Farmers Business Network a "game changer" in ag data revolution". Nebraska TV. Retrieved September 24, 2019.
  4. 1 2 "This Scrappy Startup Wants To Save Family Farms. But Big Ag Is Fighting Back". Forbes .
  5. ↑ https://www.agweb.com/news/business/technology/fbn-names-diego-casanello-ceo
  6. 1 2 3 Eckelkamp, Margy (December 13, 2018). "Farmers Business Network Launches Amazon Partnership". AG Pro. Retrieved September 24, 2019.
  7. ↑ "Monroe County family finds savings using data analytics". Wisconsin State Farmer. Retrieved 2020-03-04.
  8. ↑ writer, Henry J. Cordes World-Herald staff. "U.S. ag secretary tells farmers in Omaha that China trade deal could produce 'bonanza'". Omaha.com. Retrieved 2020-03-04.
  9. ↑ Kelsey, Johnson (Feb 12, 2020). "Canadian court orders major agriculture firms to hand over documents in antitrust probe". Reuters.
  10. ↑ Bunge, Jacob (2020-02-06). "Canadian Antitrust Officials Probe Farm Giants". Wall Street Journal. ISSN   0099-9660 . Retrieved 2020-03-04.
  11. ↑ Communications, Farm Business (2024-04-30). "AGCanada". AGCanada. Retrieved 2024-04-30.{{cite web}}: |first= has generic name (help)
  12. ↑ "FBN announces reduced operating credit line for regenerative ag practitioners". Successful Farming. Retrieved 2024-04-29.
  13. ↑ Clayworth, Jason (April 26, 2023). "Meet "Norm," a new AI ag advisor". Axios. Retrieved April 29, 2024.
  14. ↑ Rice, Don (March 21, 2023). "Farmers Business Network adds 198,000 square foot major fulfilment hub in Saskatoon". Saskatoon StarPhoenix. Retrieved April 29, 2024.
  15. ↑ Marston, Jennifer (2024-03-14). "With $1bn in farm operating lines, FBN sees 'a greater need for financing' on the near horizon". AgFunderNews. Retrieved 2024-04-29.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.