Do you ever feel like moving is an inefficient task? You pack up all your belongings only to rent a truck that feels like it’s way too big and expensive, leading to much wasted money and frustration. Thankfully, there’s a solution. Enter Matt Chasen, Founder & CEO of uShip.
The vision for uShip came in 2002 when Chasen was moving from Seattle to Austin. Much to his dismay, the only moving truck available was a 20-foot vehicle that was far too large for his belongings. Left with no other option, he took the truck and headed south. As frustrating as his experience may have been, it ultimately inspired the concept behind uShip, an online marketplace where customers can search for empty trucks online, saving them thousands of dollars in the process. After taking the idea to the University of Texas’ McCombs School of Business, Chasen, along with two co-founders, launched uShip in 2004 and has been changing the shipping landscape ever since.
uShip caught the attention of the A&E network in 2012, who turned the company’s concept into the reality television show, Shipping Wars. And the success doesn’t stop there – the company has since expanded to Mexico and Latin America and brings in annual revenues of close to $16 million. Although, the show has been largely beneficial, Chasen admits that it has brought about its fair share of challenges – including conflicts of interest between the uShip team and drama-focused producers. Additionally, fluctuations in the market affect demand for shipping, which can create strain on a shipping-focused company like uShip.
To combat these challenges, Chasen stresses the importance of utilizing company core values in every decision that the company makes – particularly ones regarding hiring. We couldn’t agree more.
At Far West Capital, we can’t help but be inspired by Matt Chasen’s story. Like many of the entrepreneurs we work with daily, Chasen identified a need and presented a solution that continues to shape the industry. We look forward to seeing what the company does next.
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