eBay's VC Benchmark Capital Invests in uShip, Kagle Joins Board
By Ina Steiner
uShip Inc., an online marketplace for shipping and moving, announced Friday it has raised its first round of equity funding from Benchmark Capital. Bob Kagle, a founding partner of Benchmark Capital and an early investor in eBay, has joined its board of directors. The details of the funding were not disclosed.
Bob Kagle told AuctionBytes the uShip investment fits in with his strategy of investing in companies with an "empowerment" theme, and sees uShip as "of the people, for the people and by the people." uShip also leverages the eBay marketplace, he said.
Readers can listen to an exclusive audio interview of uShip CEO Matt Chasen and Benchmark Capital's Bob Kagle on the AuctionBytes website (http://digbig.com/4dsyc).
Chasen said, “Our goal is to make uShip the brand that people think of when they are shipping or moving larger goods.”
uShip is a peer-to-peer marketplace for shipping and moving. uShip members list shipments in several categories, including General Goods (furniture, appliances, etc.), Household & Office Moves, Vehicles & Boats, Special Care Items (pianos, antiques, etc.), Commercial Freight, Pets & Livestock, and Plants & Agriculture. Members then receive bids from thousands of feedback-rated shipping and moving service providers. Because carriers can efficiently fill extra cargo space, many offer discounts of up to 80% off their traditional prices.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to email@example.com.
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