UPS Invests $2 Million In Shutl
UPS has invested in a new web-based courier service known as Shutl. Shutl is a website that aggregates courier companies to deliver a package in an average of 90 minutes. UPS has invested $2 million in Shutl and is now a 6% owner in the company.
The French post office, La Poste, also owns 6% of Shutl. Shutl uses a proprietary algorithm to match orders with potential couriers while taking considering the cost, location, and rating when the customer is looking to have their item delivered. The customer will be able to choose between delivery “ASAP” or select an hour slot, which will then allow them to pick the time and price.
Delivery from Shutl has once reached a record time of 15 minutes. The company set up it’s first delivery in March 2010 and their turnover has grown at around 50% per month. Annual sales are expected to hit 7 figures this year. Shutl has also received an investment from Hummingbird Ventures.@amitchowdhry or on Google+ at +AmitChowdhry