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FedEx was founded as Federal Express Corporation in 1971, by 28-year-old Memphis, Tennessee, native Frederick W. Smith. Smith, a former Marine pilot in Vietnam, originally outlined his idea for an overnight delivery service in a term paper he wrote for a Yale University economics class.
It is one of the few government agencies explicitly authorized by the United States Constitution. The U.S. Mail traces its roots to 1775 during the Second Continental Congress, where Benjamin Franklin was appointed the first postmaster general.