ShipBob is a successful tech startup that provides an order platform for commerce fulfillment. This is one of the most lucrative industries that has grown exponentially in the last few years, due to the shutdowns and lockdowns mandated by the pandemic. People have turned to e-commerce shopping options and it's been good for tech companies that offer useful and efficient solutions for e-commerce vendors. If you're not yet familiar with ShipBob, here are 20 things you probably didn't know about the company to bring you up to speed.
1. ShipBob is a logistics firm
ShipBob is a global tech company that provides logistics for its customers in a platform that fulfills orders for e-commerce vendors for direct-to-consumer brands. The company provides a full array of solutions with end-to-end convenience.
2. ShipBob provide a one-stop-shop
According to Crunchbase, ShipBob's platform covers the gamut of processes involved in order fulfillment for e-commerce retailers. The startup has a massive network of warehouses for accommodating packages with package delivery that is guaranteed within one to two business days. It also provides a network of fulfillment centers that are distributed in strategic locations across the United States for fast and efficient delivery of packages. The platform also provides communication with customers, order and inventory management, and optimized shipping. The software for ShhipBob integrates with most e-commerce platforms fully and easily.
3. ShipBob is a versatile company
ShipBob is listed under five main industries because of the scope of its operations. It is a SaaS company that provides software solutions, It is also is listed in the shipping, and e-commerce industries. It is mobile compatible and provides logistics services. It is a multifunctional operation that provides meaningful and efficient business solutions for its clientele.
4. ShipBob has four co-founders
ShipBob was launched by four partners who combined their skills and resources to develop the new tech startup. Dhruv Saxena has established two organizations. Divey Gulati has also launched two companies. The other two co-founders are George Wojciechowski and Jivko Bojinov, who are both first-time entrepreneurs. Each brings exceptional skills in the tech and business industry to combine their knowledge and experience to create ShipBob, which has gained significant posturing as one of the more successful startups in the e-commerce fulfillment sector of the industry. These four make up a dynamic team that has stepped up in the leadership of the enterprise.
5. ShipBob has a 22-member executive leadership team
There are 22 members of the executive leadership team at ShipBob. Dhruv Saxena is co-founder. Divey Gulati is also a co-founder. Anthony Watson is vice president of strategy. Jivko Bojinov and George Wojciechowski are co-founders. Paul Rosen is the CRO. Niranjan Deshpande is the data scientist. Chris McDonough is vice president of fulfillment. This is the core team at ShipBob with 12 other members.
6. ShipBob has a 5-member board of directors
There are five members on the board of directors for ShipBob. These are professionals from various industries that lend their expertise and advisement for strategic planning and forward movement of the business. Ira Weiss joined the board in June of 2016. He is the founder and general partner at Hyde Park Venture Partners. He currently serves as an advisor to seven boards. Shawn Carolan joined the board on August 22, 2018. He is a partner at Menlo Ventures and serves as an advisor to five boards. He founded one organization. Greg Barnes joined the board as an observer in June of 2016. He is a partner at Hyde Park Venture Partners and serves on 4 boards. Ervin Tu joined the board in 2020. He is a partner, Americas for SoftBank Vision Fund, and currently serves on two advisory boards. Ajay Agarwal joined the board as a member in June of 2017. He is a partner at Bain Capital Ventures and oversees 2 portfolio companies. He is active with 18 board and advisor roles.
7. ShipBob uses a complex array of technologies
There are 80 technologies actively used to power the ShipBob website. These technologies are distributed across 48 technology products. Some of these products include HTML5, jQuery, Google Analytics, iPhone Mobile Compatible, Viewport Meta, and others. While users of the website enjoy a smooth and seamless experience, behind the scenes there is a complicated orchestra of tech products at work, that work together as an integrated system.
8. ShipBob has a high overhead in IT expenses
ShipBob's tech products and services are complex when compared to the tech used by many other companies. This kind of technology is expensive to maintain. The overhead costs for ShipBob for the year are estimated to be $462.6 thousand just in products and services, not counting the staffing costs to maintain the systems and keep them up and running.
9. ShipBob is unique in the logistics and e-commerce shipping industry
The technology platform that ShipBob developed is unique and it is different from those created by its competitors. ShipBob has secured intellectual property rights through three registered trademarks in the transport, packaging, and storing category. This means that none of its rivals can copy or imitate elements of the platform that are protected by law. None of them can offer technology that operates in precisely the same way, which helps ShipBob to maintain the uniqueness that sets it apart from the rest.
10. ShipBob's website is getting a lot of traffic
ShipBob's website gets a lot of traffic each month. The analytics that tracks data on visitors confirms that the average number of monthly visits to the website is 643,884. Because of the high traffic volume, ShipBob's website is ranked as number 67,794 out of the millions of websites registered on the world wide web.
11. Monthly visitor rates are up in some countries and down in others
ShipBob is visited the most by people from the United States. Sixty-one percent of all web traffic originates from viewers from the US, but the monthly growth rate is down by 5.87 percent. Canadians make up nine percent of the web traffic with a decrease of 13.89 percent in the past 30 days. Australians are taking more interest in ShipBob's site. The visitor growth rate is up 46.62 percent, although it makes up just 7 percent of the total traffic. Six percent comes from the United Kingdom with a growth rate of 47.01 percent and two percent of the web traffic comes from people in Germany. The data strongly suggests that more people from other countries are taking an interest in ShipBob's services.
12. ShipBob is a late-stage venture capital-funded company
The most recent round of funding closed on June 29, 2021, in a round of Series E fundraising. ShipBob has participated in more than seven rounds, raising a total of $330.5 million from its investors.
13. ShipBob has high investor confidence
The confidence of the investors that support ShipBob is high. There are thirty-one investors actively backing the startup. The most recent to join the efforts are Menlo Ventures, and Hyde Park Venture Partners. They're joined by Bain Capital Ventures, SoftBank, Silicon Valley Bank, Hyde Park Angels, SoftBank Vision Fund, and several other investors.ShipBob has an impressive track record of providing top-notch services that are cost-efficient and generate favorable reviews from its customer base. ShipBob consistently performs with excellence that helps to raise confidence in its potential for continuing to provide a good return on the investments made in its growth, expansion, and future in the e-commerce and shipping niche of technology.
14. ShipBob works with more than 5k companies
According to Techcrunch, ShipBob currently works with more than 5,000 e-commerce companies and it runs their shipping and logistics operations for them. Its business has seen a surge in business which is a domino effect result of the surge in e-commerce business. ShipBob's solutions for e-commerce vendors are practical and cost-efficient.
15. ShipBob is profitable but takes investment funds
ShipBob doesn't require the funding it receives from investors to stay afloat, but it still accepts the funds. The startup has been profitable for some time now, but extra funding is used to focus on developing new areas of business for growth and expansion of its infrastructure, its technology, more research and development activity with the software, autonomous, and robotics systems, and geographical expansion.
16. ShipBob has achieved unicorn status
ShipBob has reached that magical threshold and crossed over the line into unicorn territory. It has recently received a valuation of more than the $1 billion required to join this elite group of billion-dollar companies. The latest round of series E funding was the element that took the tech startup over the top and landed it firmly into new territory in its valuation. This is good news for investors and owners of the company. It's taken a lot of work to get there but ShipBob has reached a milestone in its development and it's still on a forward-moving trajectory. The continued success of ShipBob is likely and investors are happy to continue funding its periodic bursts of growth and expansion.
17. ShipBob aims to maintain uniqueness
The CEO of ShipBob recently discussed the factors that contribute to the success of ShipBob in a highly competitive industry. Dhruv Saxena explained that one of the habits of ShipBob exes is to continually evaluate merchants' needs and to keep up with their changing needs with responses reflected in changes and updates to the technology platform. The goal of ShipBob is to meet the needs, expectations, and demands of its client base while maintaining its uniqueness with technologies and systems that set them apart from the crowd.
18. ShipBob is a privately held company
You can't find ShipBob shares up for sale or trade because they don't exist. This company has opted to not file for an initial public offering and you won't find it listed on any of the world's stock exchanges. The owners are keeping it privately held and backed with venture capital funding from private investors. As it turns out, the choice to maintain the private status has served the startup well as it has thrived under the current business model without the need to seek funding from the public sale of shares in the company.
19. ShipBob is making a positive impression
According to Ecommerce Platforms reviews, ShipBob has a high rating among consumers. The outstanding service and efficient platform that it provides has received high reviews for customer satisfaction. Statistics show that brands choosing to outsource their fulfillment needs to ShipBob, overall have received a 70 percent reduction in US shipping expenses, lower cart abandonment by 18 percent, and a 97 percent increase in the average value of each order placed. The fulfillment processes are reported to go smoothly with affordable costs in an easy-to-use format that makes shopping online and receiving orders a more pleasant experience.
20. ShipBob is expanding its workforce
According to LinkedIn, ShipBob currently has a workforce that employs 374 workers. We were interested in learning if the company is recruiting for any new talent to add to its operation. When we looked into the available job opportunities we saw that there are currently sixty new jobs open with the company. There are various positions open in multiple locations throughout the United States. We saw opportunities in Arizona, California, Pennsylvania, Illinois, and other areas. Some of the positions do not specify any certain location other than the United States as they are open to any qualified applicant that is willing to work remotely. ShipBob is getting ready for another growth spurt and it's building its infrastructure with an influx of new staff members. It's preparing for a geographic expansion into new territories that is likely to result in a doubling of its size in the months and years to come. ShipBob is a startup to keep your eye on.
Written by Allen Lee
Read more posts by Allen Lee