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uShip enlists high-profile CFO

Austin Business Journal
Chris Calnan, Staff Writer

Online freight shipping marketplace uShip Inc. said Wednesday it has enlisted technology industry veteran Bob Bearden as chief financial officer.

Bearden previously held the CFO position at global operations, and He was also a senior finance executive at Dallas-based Truckload USA Inc., and in corporate development at Southlake-based Sabre Inc.

Bearden will be handling duties previously done by co-founder Jay Manickam, who will shift his focus to marketplace analysis and pricing strategy while also overseeing human resources.

UShip, founded in 2003, hosts Web-based auctions for shippers. It employs about 190 workers, of which 175 are based in Austin.

After a year of beta testing, the company unveiled a new commercial segment in October to focus on the growing number of businesses using its service.

In March 2013, uShip reported receiving a $1.3 million financing from 36 investors, according to a filing with the U.S. Securities and Exchange Commission. The filing came hours after it disclosed in another regulatory filing that $3.6 million of its $18.3 million Series C funding in December 2012 was used to buy an undisclosed number of shares from company founders.

The company has received more than $28 million in venture capital since its launch.

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