Shyp, a startup that let users ship packages with a few taps on a smartphone, has shut down.
CEO Kevin Gibbon personally apologized in a blog post, expressing regret for embracing a "growth at all costs" strategy.
The company raised $62 million, including a series B round led by John Doerr of Kleiner Perkins.
Shyp, an on-demand shipping startup once compared to Uber, has shut down after five years in business and $62 million in venture funding. The news was announced via Twitter, as well as an e-mail sent to customers.
Shyp allowed users to ship anything with a few taps on a smartphone, bringing a courier to your location to pick up and package the items. It was pitched as a more user-friendly alternative to the post office. In total, Shyp raised $62 million, including a $50 million series B round led by legendary investor John Doerr of Kleiner Perkins.