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]
| Industry | |
|---|---|
| Founded | 2014 |
| Headquarters | , |
Key people |
|
Number of employees | 850 (approx.) (2021)[1] |
| Website | www.fbn.com |
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]
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 edit
- ^ a b c d e Beck, Madelyn (April 22, 2019). "Silicon Valley Startup Aims For Transparency, One Seed Price At A Time". KCUR. KCUR. Retrieved October 3, 2019.
- ^ "Farmers Business Network just raked in a whopping $110 million in Series D funding". 30 November 2017.
- ^ White, Steve (December 14, 2018). "Farmers Business Network a "game changer" in ag data revolution". Nebraska TV. Nebraska TV. Retrieved September 24, 2019.
- ^ a b "This Scrappy Startup Wants To Save Family Farms. But Big Ag Is Fighting Back". Forbes.
- ^ https://www.agweb.com/news/business/technology/fbn-names-diego-casanello-ceo
- ^ a b c Eckelkamp, Margy (December 13, 2018). "Farmers Business Network Launches Amazon Partnership". AG Pro. AG Pro. Retrieved September 24, 2019.
- ^ "Monroe County family finds savings using data analytics". Wisconsin State Farmer. Retrieved 2020-03-04.
- ^ 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.
- ^ Kelsey, Johnson (Feb 12, 2020). "Canadian court orders major agriculture firms to hand over documents in antitrust probe". Reuters.
- ^ Bunge, Jacob (2020-02-06). "Canadian Antitrust Officials Probe Farm Giants". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-03-04.
- ^ Communications, Farm Business (2024-04-30). "AGCanada". AGCanada. Retrieved 2024-04-30.
{{cite web}}:|first=has generic name (help) - ^ "FBN announces reduced operating credit line for regenerative ag practitioners". Successful Farming. Retrieved 2024-04-29.
- ^ Clayworth, Jason (April 26, 2023). "Meet "Norm," a new AI ag advisor". Axios. Retrieved April 29, 2024.
- ^ Rice, Don (March 21, 2023). "Farmers Business Network adds 198,000 square foot major fulfilment hub in Saskatoon". Saskatoon StarPhoenix. Retrieved April 29, 2024.
- ^ 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.