// startup autopsy

ShipItWise

Instant dynamic shipping quotes powered by advanced algorithms to disrupt freight forwarding.

marketfitAcqui-hire

Founded	2016
Closed	2019
Country	Estonia
Sector	Logistics

50%

Key Events Timeline

2016-01

FOUNDING

ShipItWise founded in Estonia by 5 co-founders as a SaaS platform for instant shipping quotes.

2016-06

FUNDING

First of 5 funding rounds completed, eventually raising €419.4K total.

2018-01

MILESTONE

Company reached peak operations with development of API to digitalize freight forwarding price lists.

2019-06

MARKET FEEDBACK

Major freight companies told ShipItWise they were 2-5 years too early and saw no financial incentive to adopt the platform.

2019-09

SHUTDOWN

ShipItWise announced shutdown due to lack of market demand and inability to convince incumbents.

2019-11

ACQUISITION

ShipItWise assets, people and customer contracts acquired by Speys in an acqui-hire deal.

Full Analysis

Analyst plan

Documented cause

ShipItWise offered transparent, dynamic shipping quotes that revealed unfair pricing practices by large freight forwarders who profited heavily from smaller businesses. These established companies saw no financ...

ial benefit in adopting the technology and explicitly told ShipItWise they were 2-5 years too early to market. The industry's entrenched analog culture and resistance to digital disruption meant there

Verified lesson

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HypeCycle · MoatType · ResearchTags

ShipItWise raised €0.4194M and still failed. See the documented cause, verified lesson and all metrics.

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