Can you believe it? Shyp secured $62 million in funding, with the only difference being that instead of you taking a package to UPS or FedEx they would pick it up from you. But of course they were charging over double the original shipping cost in order to do it.
And surprise! People either didn’t trust the startup to carry your valuable goods, or people didn’t want to spend the countless extra dollars in order to simply ship an item.
Well now they have retreated back to San Francisco, where they suggest that they might be able to eventually turn profitable. But one will always wonder if instead of securing $62 million in funding, they should have just bought into a UPS Store Franchise. $62 million could have opened up just over 2,000 stores.