What Happened to Shyp? - Startup Forensics

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Let’s say you wanted to ship something to the other side of the country, and you didn’t want to look for a box big enough, or queue at the post office. None of that. You just wanted to have someone come and pick up your package, from the comfort of your home.
Well, Shyp did just that.
Their motto was genius: “we’ll take it from here”. It was easy: all you needed to do was take a picture of the item or items you wanted to be shipped, upload them through the app, and a person would come and pick it up.
And the best part was the price: just $5!
Business boomed in California. People even called it the Uber of deliveries. Then it expanded to New York and Chicago, where…it didn’t fair out so well.
And in the span of just five years, Shyp “sank”.
When we analyze it, we realize Shyp left us very valuable lessons.
3:46 - Its early success.
5:48 - Was it too good to be true?
7:25 - Too little, too late
10:00 - The future of on-demand businesses
#slidebean #startups #Shyp #startupforensics
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27 янв 2020

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Комментарии : 81

@charlesloomis2224 3 года назад

Two people are at a watercooler. One of them is talking about how great the last company he worked for was, "Free food, healthcare, long vacations, lots of fun, low hours, high pay." The other guy asked, "Why did you leave?" The guy replies, "I didn't want to. The company went bankrupt. I don't know why."

@Cameraville 4 года назад

I used Shyp when I was living in Brooklyn, selling weekly on eBay. They were awesome, and I wondered how it was possibly profitable..

@du64 3 года назад

turns out, it wasnt!

@Cyberscout00 4 года назад

Thank you Caya, the Startup Forensics is my favorite segment.

@uselessDM 4 года назад

I mean this at least seems like a service that has some use and appeal, especially for $5. But I think they could have offered it for $10 and it would have been a much more realistic prospect, but still attractive for many things or just to save you the hassle. I could imagine a company like UPS starting their own branch of this and charging $5 plus the actual shipping and I'm sure people would use that.

@GameFuMaster 4 года назад

2:18 you're telling me two successful people had to "borrow" $2000? Like they didn't have that in savings already.

@johnbae2780 4 года назад

Shit happens haha

@PierceTrey 3 года назад

Shyp happens

@TheOnlyTruthSerum 4 года назад

Great video as always.. Keep them coming

@Gilotopia 4 года назад

That intro feels like a true crime show 👌

@slidebean 4 года назад

Thank you! ^^

@Ari-zp4dd 3 года назад

@@slidebean yeah man I just love the intro. Make you so much interesting to stay. Gj on the Intro. I usually skip intros , but not yours.

@angieperez3864 4 года назад

@10:29 Caya: "So what's the magical formula?" Everyone: Yes, we will find out the magic formula!!! Caya: "Well nobody knows." Everyone: O...k...then. Well that was rollercoaster of emotions. Loll

@slidebean 4 года назад

@teddypup2424 4 года назад

Well, that's why the start-ups are so unpredictable. However, many of these mistakes were completely avoidable. All they needed to do was find a gen x-er who invariably heard Tom Peters say "stick to your knitting" . Then, find a cofounder who's not a shrieking SJW, and learn that turning gig workers into employees will eradicate any chance at profit and...voila! Sbyp is back to being a thriving, profitable start-up. A little common sense can go a long way.

@Jordan-Ramses 4 года назад

Everything is real popular when it's operating at a loss.

@mohamednathar2894 4 года назад

Wonderful, more Informative.😀

@mk-ki4ls 3 года назад

Ugh, I have been addicted to your channel for a few weeks now and counting.

@mariojohnson4695 4 года назад

Great Analysis!

@adriandy3211 4 года назад

As usual, great video slidebean. 💕💕

@slidebean 4 года назад

Thanks, Adrian!

@stephenobelisomeday 4 года назад

I just got help building on my new idea. Thank you every much Caya and team

@slidebean 4 года назад

Good luck!

@kicapanmanis1060 4 года назад

Overpaid their employees while charging nothing to consumers, matter of time.

@Dino-pb5mt 4 года назад

awesome insight!!!

@ezhrm-staffmanagementmadee5995 4 года назад

you deserve more subscribers man

@dennisasamoah2213 3 года назад

great stuff

@adsobeats2774 4 года назад

Bohot Hi Badiya 👌🙌

@patriciaAmurray 4 года назад

Seems to me Shyp would have done better if they had looked for accounts instead of (or addition to) customers. Certain cab companies here in town do so much better than the others because, in addition to serving the public, they also have official accounts with local universities.

@transferr33 4 года назад

More Startup Forensics !

@incrediblefoodie 4 года назад

Your puns 🤣🤣 shyp dunk 😭

@mghq-mobilegamerzhq2533 2 года назад

Coming from after the Pamdemic and seeing this video if they had survived long enough till the pandemic began they would have skyrocketed due to stay at home orders, so everyone would be shipping stuff out!

@k.chriscaldwell4141 4 года назад

Best possible is three pickups per hour. That's $15 revenue. From that, at least $10+ had to go to labor, and then there was depreciation, gas, technology, etc. And liability. Important documents that don't make it to FedEx could put the firm in a legal pickle.

@kidtae1 4 года назад

Can you do Luxe the valet on demand company next, it was a valet war in 2015/2016 in SF with Luxe Zirx and the pink company. Thanks

@slidebean 4 года назад

Noted, thanks!

@Cameraville 4 года назад

I think you got some wrong information perhaps - or at least Shyp was different when I used it. It was $5 to for a courier to come, whether 1 or 10 items. And always you pay for the cost of shipping. Plus I believe 2 or $3 if you wanted them to pack it. So if you one items unpackaged, it cost: $5 pick up fee + shipping cost + $3 packing cost.

@FasterDrivers 2 года назад

I think I have just added a new service option for my startup.!

@levim.6811 2 года назад

Caya, feel like you should do one for JOKR and what's taking place in NY given the similar flavors

@tinnic 3 года назад

The thing about "on-demand" is that it's an old model for the rich or even the middle-class. If you had servants, you had on-demand service in 18th, 19th centuries. Even today, in countries where there is a huge class of people living in poverty in a densely populated area, "on-demand" is possible because labour is cheap. It's difficult in the US because well, wages are high (as it should be). So it has to be subsidised by someone or consumers have to pay more.

@Islandvybz96 Год назад

100% spot on.

@circuitdotlt 4 года назад

$5 is nothing. Here in europe, a 70-80% discount for shipping by UPS, DHL, TNT and others is a complete normal and expected thing if you are regular. When public one-off service by UPS costs $100, you can be sure someone is getting $80 on top of your $5. So it is pretty surprising it did not work out. Thing is, shipping companies focus on corporations and don't want to deal with one-off customers and educating them how to pack or what labels to print. Here in our country there are several middle-man websites where you can select the cheapest way to ship (much cheaper than one-off directly from shipping company, yet more expensive than corporations can get) and get a nice self-service through out whole process. I use them a lot, but pack it all myself. Packing is a lot of trouble and I would use Shyp service, at least on some of my items.

@aprilmintacpineda2713 4 года назад

Caya! Don't explain your jokes!!! HAHAHAHAHA I found the joke funny but you saying "get it? cause..." made me laugh even more HAHAHA

@slidebean 4 года назад

That's the point ^^

@martelmatisse5609 4 года назад

I see Slidebean Startup Forensics, I put my popcorn in the microwave...

@slidebean 4 года назад

🍿

@vitoanania6042 3 года назад

Go for a healthier alternative

@stafeign 4 года назад

Could you please do a video on how to start a tech company. Pleeeaaaseee

@vishmaychauhan2863 4 года назад

What are your upcoming plans for slidebeans?

@danielm6341 4 года назад

My guess is the more fixed assets you have, the more risky on-demand is. I think it works for large companies with the customer base to spin-off an on-demand division without necessarily cannibalising their own products; assuming they have sufficient incentive for bespoke variants of that product. But a startup? You better hope your service has mass appeal and highly complacent incumbents. Otherwise the volatility will kill you for any VC expecting profits instead of monopoly unicorn farming.

@affansiddhiqui3739 4 года назад

Shyp reminds me of a current growing indian startup dunzo which is funded by google ventures can you make a video on that

@slidebean 4 года назад

Idea noted, thanks!

@affansiddhiqui3739 4 года назад

@@slidebean there's another content idea OYO is the second biggest funded startup in india but the bad news is funding was pretty heavy (as it was made by softbank) Hope you guys find this helpful And as usual thanks for uploading awesome content

@ericz8982 3 года назад

i love company forensics

@shauryamathur7562 4 года назад

Look at model of Dunzo (India) @caya.

@slidebean 4 года назад

Will do! Thanks!

@khandarwilliam5439 3 года назад

holy shyp

@moumous87 4 года назад

Lesson: start anything, no matter how stupid, in San Francisco or near the Silicon Valley

@kelcilynch8872 4 года назад

Do “What happened to Evercar Ridesharing ?”

@slidebean 4 года назад

Noted!

@MrJoshuahenry 3 года назад

Left on good terms.... as all Canadians do 🇨🇦😆

@KanishQQuotes 3 года назад

Covid could have had helped them with growth

@ronque23 3 года назад

Shyp sounds like Moviepass- too good to be sustainable

@M.Kabane 2 года назад

8:15 The company would have succeed had they implement this from the start.

@alexrubio9985 2 года назад

How did Shyp not sue Shipt for similar names? They’re both delivery services

@MrDavidJMa 3 года назад

So they did not do a proper analysis if their TAM - total accessible market and his pricing. And still investors piled in....

@TheStol 2 года назад

Shyp happens

@rajimordecai1099 4 года назад

Startup forensics: slidebean

@danfelbm 4 года назад

you should study the case of latin america's success story of Rappi. They achieved incredible growth with undeniable profit in a very short period of time. But they have contractors, and is a very controversial topic around here because while the company is profitable (and is worth billions of dollars as of now), the workers conditions are often cited as deplorable not even meeting the bare minimum standards.

@slidebean 4 года назад

Idea noted! Thanks!

@carlover4239 3 года назад

Isn't Shyp dead again? I never saw any actual progress after their 2019 "revival" tweets/posts.

@DrCash7 4 года назад

What happened to *Shyt? There, fixed that for you.

@danielm6341 4 года назад

I could bet money that a organic manure startup company already has dibs on that name.

@deepankannan9758 4 года назад

Do you know why beOmni fail?

@slidebean 4 года назад

🤔 Never heard of it... we'll look into it!

@maps39 4 года назад

i don't understand in what they invested 50 M$, i mean, what is the target, you are already a millionaire, on what the money were spend ... maybe you can add more details in you future videos