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I'm in a warehouse today, and I caught up with Val to show the newest additions to picking in ShipHero.
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Aaron Rubin
10.3K posts
Aaron Rubin
@aaronrubin
3PLs and brands pick, pack and ship $17B of ecom orders annually in our Warehouse Management Software.
Founder & CEO ShipHero.com
- Leases are liabilities, not assets Leases are liabilities, not assets Leases are liabilities, not assets Leases are liabilities, not assets Leases are liabilities, not assets Leases are liabilities, not assetsLease secured
- Do I see a 46% tariff on goods from Vietnam? That is going to destroy everyone that moved their ecommerce factories from China to Vietnam.
- Vietnam is full of Chinese owned factories and has 0% additional tariffs while Mexico is full of US owned factories and has 25% additional tariffs. Mind blowing.
- I got hit with my first 20% tariff out of China (shipped before that jumped to 145%). I included the bill from CBP below. It is called a CN/HK EO 20% Duty. The product isn't worth selling with a 145% tariff so, despite selling over $1mn of this SKU in my tiny ecom business
- We're adding 30-50% tariffs on all the major manufacturers of cheap apparel which will make your in-store purchases more expensive. But online will have 0% increase because 321 still exists so the overseas sellers shipping direct from overseas, still pay 0% tariffs.
- I approve the overall budget, but not each line. The team went to a warehouse and burnt my money making this:
00:00 - The White House just updated the 321 Executive Order, now items sent through International Postal Mail get a tariff of 90% or $75 per item. The transportation company chooses if it's 90% or $75, but it has to be the same for all their shipments. This is just for Postal Mail.
- We raised $50 million. This is our first institutional funding and values ShipHero at $225 million. The money came from one firm, Riverwood Capital. I got no tips for y'all, but I'll share some facts and some pain. Every offer we got was from a firm that contacted us first.
- Chinese companies still shipping into the US are relabeling their items as made in Malaysia or Thailand so they pay 10% tariffs instead of 145%.
- Y'all know we could have just 1. Banned SHEIN, Temu, TikTok 2. Ended section 321 3. Required a responsible US person for all items sold in the US China does all those things to the US.
- In the biggest Shopify ecosystem news you haven’t heard: Giant Tiger, the $2B Canadian Retailer, ripped out their tech stack and replaced it with Shopify Plus, ShipHero and several other modern tech companies.
