On-demand Shipping Startup Shyp is Raising $50M at $250M Valuation

Image Source: on.aol

Image Source: on.aol

California-based on-demand shipping startup, Shyp is raising $50 million at a valuation of $250 million led by Kleiner Perkins. The new funding will be used to expand to new cities. It is currently available in Miami, New York and San Francisco. Previously, the firm had secured $10 million in series A funding and $2.1 million in seed round.

Shyp provides shipping services that ranges from picking up the package to delivering it to the destination. It allows its users to take the photo of an item they want to ship, and then arranges someone to pick up the item and deliver it. The whole process costs $5, plus postage, for shipping anything.

At the end of January, the company had launched its Android app. Other firms which also centered around on-demand delivery and logistics include Postmates, which raised $35 million in Series C in December 2014

Last month, Magic, an SMS-based on-demand delivery also secured $12 million in Series A funding led by Sequoia.

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