Austin, TX (PRWEB) December 3, 2009
uShip, the global online shipping marketplace, today announced it has surpassed $125M in business transacted in just five years, two-thirds of which has occurred during the recession. In 2009, uShip’s revenues doubled versus 2008 and the company also enhanced local settings for customers in the UK, EU, Canada, and Australia. uShip turned profitable in 2008, and at the 2010 SXSW Interactive conference, this will be a topic of discussion.
Inspiration from Frustration = Business Gold
In 2002, Matt Chasen sat frustrated in the back of a nearly-empty 20-foot moving truck in Seattle. The 9-foot rental van he ordered was sold out, meaning he was about to drive his relatively small set of belongings in a virtually empty truck all the way to Texas.
Then lightning struck. Chasen imagined filling the extra space with people’s items headed in the same direction. But how could he find them? His inspiration (and question) would eventually become uShip.
Launched in 2004, Chasen is now CEO of the 50-person company, which has stayed true to his original vision: connect people with transporters to make shipping more efficient and affordable. Feedback-rated transport companies, often with excess capacity or already making a similar trip, place competing bids to win business and ship customers’ cars, freight, household goods, horses, boats, pets, heavy equipment and more. As a transactional business model, uShip earns a fee from every completed shipment on its marketplace.
“Moving hard-to-ship things like cars, boats, households, equipment and freight is typically the source of frustration, not inspiration,” said Chasen. “I was fortunate to recognize that eureka moment over seven years ago, but, in some ways, we feel we’re just getting started with an increasing number of opportunities to grow and diversify uShip.”
uShip Marketplace Growth
uShip is the first and largest online shipping marketplace that connects people and businesses with feedback-rated transporters to make moving more affordable and efficient. uShip’s patent-pending search technology helps 160,000 service providers find and bid on hard-to-ship items, such as cars, boats, freight and households, to fill empty cargo space and dramatically reduce transport costs. Since launching in 2004, over $125 million in business has transacted through uShip, which is backed by Benchmark Capital and DAG Ventures, and based in Austin, Texas.