How I Failed: From $250 million to 0, with Shyp Founder Kevin Gibbon
Kevin Gibbon’s Uber-style shipping app Shyp grew fast and big, valued at $250 million at their peak, but then it had a brutal fall, leaving Kevin questioning his own value. What went wrong?
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Show Notes
Shyp started in 2013 when Kevin Gibbon had the idea of taking the Uber model and using it for shipping. He created an on-demand service where customers would take a picture of what they wanted to send, a courier would come pick it up and then take it to a warehouse to be packaged and delivered using major shipping companies.
There was huge excitement when they launched. They were featured on the front pages of newspapers and Kevin was hailed as the ‘next Steve Jobs’. They were a hit with investors, raising their seed round within three months, their Series A the following year and their Series B the year after that. At their peak they were valued at $250 million dollars. But the company failed.
So, what went wrong?
Listen to find out.
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