Fetch Package, a last-mile package delivery company for apartment communities, has raised $50 million in a Series C round of funding and closed on a $10 million venture debt facility. Michael Patton founded Fetch in May 2016 after being frustrated by having packages lost at the apartment community in which he was living. “I took […] …
If we continue to view the USPS as merely a balance sheet and optimize for profitability in a vacuum, we ultimately stand to lose even more than we get. As CEO of Shippo, an e-commerce technology platform that helps businesses enhance their shipping, I have a special vantage point into the USPS and its effect on e-commerce. And while my viewpoint on the value of the USPS is not based on my company’s business relationship with the Postal Service, I desire to be upfront about the truth that Shippo creates part of its revenue from the purchase of shipping labels through our platform from the USPS along with numerous other providers. We must look at how numerous thousands of small companies have actually been able to get started thanks to the USPS, how hundreds of billions of dollars of commerce is made possible by the USPS yearly and how numerous millions of customers, who otherwise might not have access to products, have been served by the USPS. For this process, Amazon delivers deliveries to USPS circulation centers in bulk, which considerably cuts expenses and logistical challenges for the USPS. Overall, I would anticipate to see the level of entrepreneurship in e-commerce slow in the United States without the USPS or with a private variation of the USPS that runs with a profit-first mindset….
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