Shipwire's Latest Funding Ups Ante in Bid to Reshape Global Commerce: Series A Brings $4 Million and Top Ecommerce Experts to Board

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Shipwire, Inc. today announced that it is upping its bid to reshape global commerce by fundamentally changing how small and growing companies store, sell and ship their products worldwide. Shipwire has completed a $4 million Series A round, led by Meakem Becker Venture Capital. It also has added David Becker and Glen Meakem to the board. The co-founders and managing directors of Meakem Becker are recognized experts in ecommerce and product delivery. The funding will fuel the expansion of Shipwire's service offerings and global warehouse operations, beginning with today's roll out of its significantly enhanced website and business application, Shipwire.com.

The storage, shipping and movement of retail goods worldwide is too time consuming today for small and growing businesses. Today it is a choke point in their growth

    Shipwire is crushing the last major barrier to global commerce faced by small and growing businesses by offering a Web-based, hassle-free solution for storing and shipping merchandise. Shipwire complements other solutions that are enabling businesses of all sizes to tap the power of Internet commerce, including eBay, PayPal, and Google AdWords. With just a few clicks on Shipwire.com, a merchant can arrange for Shipwire to store its merchandise, let buyers seamlessly place orders on the business' existing website, and then have Shipwire pack up and ship those orders directly to buyers on behalf of the merchant. Shipwire handles all the behind-the-scenes logistics from its growing network of warehouses, so merchants don't have to. In the U.S., this means merchants now have warehouses in Los Angeles and Chicago. Monthly fees range from a low $29.95 per month for the starter service to more customized plans to meet specific company needs. There are no contracts, no hidden fees, and businesses can cancel at any time.

Shipwire is led by Damon Schechter, Shipwire founder and CEO, and author of Delivering the Goods: The Art of Managing Your Supply Chain. "Channels like eBay and PayPal have opened the doors to global commerce for millions of businesses. But once firms sell their products, there are still huge hurdles to getting that merchandise into customers' hands," said Mr. Schechter. "Our goal is to fundamentally change the game for merchants with easy, no-risk Internet delivery services that allow businesses to eliminate storage and shipping as a barrier to their business growth. Shipwire is delivering the last link in enabling business ecommerce while allowing customers to recapture valuable time to focus on personal or business growth."

Mr. Schechter added, "By tapping Glen and David's success in ecommerce, along with the financial backing of Meakem Becker, we are ready to push forward full-throttle toward that goal."

Meakem Becker will play an active and strategic role in guiding Shipwire's growth. Mr. Meakem and Mr. Becker respectively were CEO and COO of FreeMarkets, the leading provider of Internet solutions for automating Global 1000 companies' sourcing processes. Additionally, Mr. Becker spearheaded the team behind the information network that became the backbone of Dole Latin America's logistics and supply chain management systems.

"The storage, shipping and movement of retail goods worldwide is too time consuming today for small and growing businesses. Today it is a choke point in their growth," states David Becker. "Shipwire is a visionary service that allows merchants to eliminate the daily headache of storage and order shipping and free up time to focus on business growth."

"Early customers are reiterating the need for a company like Shipwire," Glen Meakem adds. "We are excited to hear that, not only is Shipwire removing business pain points around storage and shipping, but that Shipwire's service is actually a catalyst for their growth by unshackling them from the traditional warehouse investment model. That, for us, is a tangible demonstration of a truly valuable service!"

Meakem Becker Venture Capital is an early stage venture firm founded in late 2005 in Sewickey, Pennsylvania, by Glen Meakem and Dave Becker, the former executives that co-founded and ran FreeMarkets (acquired by Ariba in 2003). Meakem Becker is currently investing from its first formal fund. More information about Meakem Becker Venture Capital can be found at http://www.mbvc.com.

Shipwire, Inc. allows Web retailers to focus on growth by eliminating the hassle of storage and shipping with plans starting at $29.95 a month for Shipwire.com. Shipwire.com is changing the game for businesses that sell merchandise online - offering a growing warehouse network, simple bundled pricing, a developer network, and Web store integration. Today, more than 30,000 online stores have Shipwire.com built-in. Shipwire has U.S. warehouses located strategically in Los Angeles and Chicago. Shipwire can be contacted at 1-888-SHIPWIRE or http://www.Shipwire.com.

KEYWORDS: ecommerce order fulfillment, distribution center, Chicago warehouse, Los Angeles warehouse, Canadian warehouse, drop ship alternative, logistics company, supply chain logistics, pay pal shipping, yahoo stores fulfillment

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Rebecca Hurst
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