FedEx began the first major U.S. overnight package-delivery service in 1973.
Frederick W. Smith founded Federal Express after developing the idea of a hub-and-spoke delivery network for urgent shipments. The company began operations on April 17, 1973, using 14 Dassault Falcon 20 aircraft to serve 25 cities from its Memphis hub.
Federal Express concentrated packages at a central hub, sorted them overnight, and sent them onward to their destinations. This system made reliable next-day delivery possible on a national scale and helped transform business shipping.
The company shortened its name to FedEx in 2000. UPS also offers overnight delivery, but it began as a messenger company in 1907 and did not create the Federal Express network described here. The answer refers to the company now known as FedEx Corporation.