Courier aggregate Shutl receives $2mil from UPS

By Freddie Pierce
Follow @WDMEllaCopeland UPS have backed the new web-based courier service Shutl, a website which aggregates courier companies to deliver a package in a...

UPS have backed the new web-based courier service Shutl, a website which aggregates courier companies to deliver a package in an average of 90 minutes.

UPS, now the largest investor after paying out $2 million is now the proud owner of a six percent stake in the start up company Shutl, which is also owned partially by the French post office La Poste, which also has six per cent.

Shutl works using an algorithm which matches orders with potential couriers, taking into consideration the cost, location, user-generated rating and when the customer want’s their item delivered. The customer is able to choose between delivery ‘asap’ or to choose an hour slot, which then allows them to pick a time and price.

 

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK:

Delivery from Shutl, which is currently available in the UK, has reached a record time of 15 minutes, and is growing rapidly in popularity.

Since it’s first delivery in March 2010, the company’s turnover has grown at about 50 percent per month, according to Shutl's Founder and CEO, Tom Allason. Annual sales are expected to reach seven figures this year, and the company is beginning to attract some weighty investor interest.

According to the Financial Times, UPS is planning to provide advice to Shutl on its US launch early next year, with a particular focus on helping client relationships. According to Mr Allason, UPS see Shutl’s service as ‘complimentary’.

In a statement released on their website, Shutl have also attracted investors including Hummingbird Ventures and Geopost. The company will use it’s new investment to ‘expand its engineering team, accelerate the acquisition of new retail partners, and prepare to launch its service in the US early 2013.’

“Since launching in 2010, we’ve focused on providing a service that blows away shoppers’ expectations,” commented Mr Allason. “We’ve spent this last year taking Shutl national across the UK, now we are ready for the U.S., a market that we estimate will be worth around $26bn by 2016.”

Share

Featured Articles

Advancing the digital supply chain with strategic sourcing

As supply chain disruptions continue, strategic sourcing is one way companies can enhance sustainability, resilience and drive digital transformation

Microchip technology, from creation to supply chain shortage

As the chip shortage continues to put pressure on the manufacturing supply chain, we outline the transformative history of this 20th century invention

Improving supply chain management with IoT technology

As the supply chain faces challenges caused by ongoing geopolitical conflicts, trade wars and the COVID-19 pandemic aftermath, we explore how IoT can help

News round-up: supply chain, risk management, and logistics

Supply Chain Risk Management

Solving supply chain delays with network automation

Digital Supply Chain

Three ways to future-proof your supply chain

Supply Chain Risk Management