Shyp said Wednesday that it has raised $250,000 in seed funding. Investors included Tim Ferriss; Paypal President David Marcus; Homebrew‘s Hunter Walk and Satya Patel; and Google Earth founder Brian McClendon. Based in San Francisco, Shyp is an app designed to simply shipping.
SAN FRANCISCO Shyp, a new startup aiming to simplify shipping anything, today announced that it had become the first company to take advantage of yesterday’s lifting on General Solicitation restrictions.
With companies able to publicly announce that they are fundraising for the first time, Shyp was bolstered by backing from threetime New York Times bestselling author and prolific angel investor Tim Ferriss; who through a post on his personal blog to his 1.4 million readers was able to drive $250,000 in funding in 250 minutes to close out the company’s seed round.
● Tim Ferriss blog post led to closing $250,000 in 53 minutes on the day of the lifting of General Solicitation restrictions
● Shyp is an iPhone app that represents the easiest way to ship stuff. It’s taking sign ups now and will launch first in San Francisco
● Other investors in the company include David Marcus (President of Paypal); Homebrew(Hunter Walk & Satya Patel) and Brian McClendon (Founder of Google Earth)
Says CEO Kevin Gibbon, “We don’t want you spending time packaging and waiting in line at the Post Office. Instead, just take a photo of the item that you want to send, enter the destination, and choose a pickup time.”
A ‘Shyp Hero’ (driver) will arrive at your home or office, take your unpacked item away to be packaged, then send it on its way via the optimal carrier (i.e., FedEx, UPS, etc.). Shyp automatically optimizes it for speed and cost and charges no more than Post Office prices, plus a $5 pickup fee for sending solo items. If you send more than one item, the company waives the$5 pickup fee.
Ferriss is an earlystage investor and advisor in companies including Twitter, Uber, Evernote, TaskRabbit, Facebook and Shopify but there were limitations to what he could do before the raising of General Solicitation.
“I’ve been fortunate to be involved with some great companies from the earliest stages, but even with exclusive access, I couldn’t put much ‘wood behind the arrow’without a fund, I couldn’t put a lot of money behind each bet. Now, it’s a different game. I can leverage my network and audience to heavily back companies I believe in, such as Shyp, which is tackling a market worth hundreds of billions of dollars.”
One of Shyp’s lead investors, Hunter Walk of Homebrew, adds:
“This is a market that hasn’t seen significant innovation in 34 decades. Shyp has the potential to disrupt the archaic process of sending an item and replace it with an experience that is both delightful and effortless.”
The company will use the funds to prepare for launch later this year, beginning in San Francisco, in preparation for a broader launch.
Shyp is the simplest way to ship your stuff. Through the company’s iPhone app, you take a photo of what you want to send, then have someone come to collect it, pack it and ship it.
The company is founded by Kevin Gibbon (CEO), Joshua Scott, and Jack Smith. Kevin and Joshua met while working together at San Francisco startup Attachments.me. They quickly found that they had a shared passion for building beautiful products that solved real problems and, with these values in mind, conceived the idea for Shyp.
Jack previously cofounded Vungle, which raised over $8.5 million. Kevin and Jack havepreviously been highvolume eBay power sellers and know the pain of shipping firsthand.Shyp is headquartered in San Francisco. For more information visit www.shyp.com