Fred Smith, the FedEx Corp. founder who revolutionised the express delivery industry, has died, the company said. He was 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service. Over the next half-century, Smith, a Marine Corp.

Veteran, oversaw the growth of a company that became something of an economic bellwether because so many other companies rely on it. FedEx became a global transportation and logistics company that averages 17 million shipments per business day.

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