Struggling shipping company Shyp retreats to San Francisco
Once considered the “Uber of shipping,” logistics company Shyp has announced that it’s downsizing its operations in Chicago, Los Angeles, and New York, and will no longer accept new orders in those cities. The company will instead focus on achieving profitability in the single market of the San Francisco Bay Area.
Shyp launched in 2014 and gained prominence for handling all the hassles of shipping items — picking up items from your house, packaging them up, and sending them on their way — all for a flat fee of $ 5. The start-up also promised pickups within 20 minutes.
In a blog post, CEO Kevin Gibbon said the company would also cut some staff from its headquarters. “Knowing what we…