May 13, 2015
Shipping no longer require your presence in the post office. With the application Shyp you just take a picture of the item you want to send, pick a courier and on of the Shyp employees will be there to get it in a couple of minutes. The application allows you to compare charges and carriers, so you can get the best shipping price. You can choose between U.S. Postal Services, FedEx and UPS for now. There is flat fee of $5 per order and this order can include multiple shipments. Also there is a tool that
The company itself was launched in March 2014 in San Francisco, USA. From there it spread its services to New York in September, 2014 and Miami in November the same year. From the beginning of 2015 it also can be used in Los Angeles. This doesn’t mean that the shipping addresses should be limited to this cities and areas, you can send shipments all over the world.
The site of the application www.shyp.com answers various questions and shows maps, prices and announces you when new post codes are added to the network.
Shyp was founded in 2013 by Joshua Scott, Jack Smith and Kevin Gibbon, who is now Shyp’s CEO and was eBay power seller in his college years. This gave him the idea of improving the shipping services.
The investment history of Shyp starts with initial financing round in September 2013 on which was raised $2.1 million from investors like Winklevoss Capital, Homebrew, Fresh VC, SherpaVentures and some notable angel investors. In A series funding round in July 2014 Shyp raised new $10 million through SherpaVentures and Homebrew. Another funding round took place in April this year. On it the company gained $50 million which raised its market value on over $300 million. In this round took part past investors like Shervin Pishevar and SherpaVentures and new ones: Kleiner Perkins, John Doerr, Jennifer Hyman (CEO of Rent The Runway) and Kevin Rose (founder of Digg). This round brought also new face to the Shyp’s board of the directors – John Doerr.
Most of the company’s revenue comes from the discounts of the shipping costs that they arrange from the shipping companies. For now the company has modest number of users – tens of thousands, but this number grows on a monthly basis with over 20% and since the last year it has increased with more than 500%.