AUSTIN, Texas – April 4, 2012 – Matt Chasen, CEO and co-founder of uShip.com, the world’s largest and most trusted transportation and shipping marketplace, is attending the White House on Thursday (April 5) as President Barack Obama signs the JOBS Act into law. Chasen joins a select list of invitees at the Bill Signing Ceremony in the Rose Garden, including partners from top venture capital firms and CEOs from several other Internet companies.
Among other things, the JOBS (Jumpstart Our Business Startups) Act is rare bipartisan legislation that will designate a new “emerging growth” category of company that could conduct IPOs without certain financial disclosures and governance requirements for up to five years and less than $1 billion in annual revenue. It also opens up more opportunities for crowd-funding via the Internet and elsewhere for small companies, enabling them to raise up to $1 million a year without being required to register the shares for public trading with the SEC. This is especially helpful to entrepreneurs who can raise funds and build an enterprise without having to sell to larger companies.
“The signing of JOBS Act into law could have an immediate impact on some companies and longer term impact on others,” said Chasen, who co-founded uShip in 2003. “By reducing expensive regulatory paperwork and processes, it potentially frees up more money for companies to direct toward growth and production, areas such as engineering and sales. This means more goods and freight eventually making their way through our nation’s transportation and trucking system.”
Since 2004, uShip.com has been a source for transporters shipping everything from freight to vehicles and household goods to horses. Over 250,000 registered transporters have placed seven million bids and conducted $250 million in business on the site while earning 98% positive feedback from customers, making it the most trusted transportation and shipping marketplace available. uShip is also featured on A&E’s “Shipping Wars,” a real-life series that follows a handful independent truckers who competitively bid to transport oversized, bulky loads found on uShip.com.