
Ghostruck
Moving Services for a Flat Rate | Ghostruck | Home.
Date | Investors | Amount | Round |
---|---|---|---|
investor | €0.0 | round | |
investor investor investor investor investor | €0.0 | round | |
N/A | N/A | Seed | |
Total Funding | 000k |
USD | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Ghostruck was a logistics and moving platform founded in 2012 by Nathanael Nienaber and Matt Hocking, with the company ceasing operations in early 2017. The Seattle-based startup aimed to address inefficiencies in the moving industry by connecting individuals and businesses needing to move items with professional movers who had available space in their trucks. Nienaber's nearly decade-long experience at Georgia-Pacific, a major US shipper, exposed him to the problem of empty trucks on the road, while co-founder Hocking's background as a lead designer for a location-based dating app provided insight into creating connections through technology.
The company developed a mobile application and website that allowed users to get a fixed-price quote for their move by submitting photos and details of the items. Ghostruck's proprietary algorithm would then calculate the cost based on the item, difficulty, and distance. The platform's name was derived from the industry term "ghost truck," which refers to an empty truck returning after a delivery. By utilizing this unused capacity, Ghostruck intended to offer a more efficient and cost-effective solution for both consumers and professional moving companies. The service was not limited to large moves; it also catered to single-item deliveries, such as furniture purchased from platforms like Craigslist. A feature called "Make it Disappear" also facilitated the donation or disposal of unwanted items.
Ghostruck gained early traction, graduating from the 9Mile Labs incubator in 2014 and raising a total of $3.43 million in funding over three rounds, including a $2.2 million seed round. By September 2015, the service had expanded from its initial Seattle pilot to 13 major U.S. markets. However, the company faced significant regulatory challenges. In February 2017, Washington state transportation regulators sought up to $730,000 in penalties against Ghostruck for operating as a household goods carrier without the necessary permits. The company contended that it acted as a broker, not a mover, but had used a subsidiary, which lost its permit, as a backup. The investigation found that Ghostruck had illegally contracted directly with customers, creating potential risks due to the lack of guaranteed permits, insurance, and background checks for the movers on its platform. The company was listed as "Out of Business" as of February 2017.
Keywords: on-demand moving, logistics platform, moving app, last-mile delivery, trucking marketplace, freight matching, moving services, delivery services, Nathanael Nienaber, Matt Hocking, 9Mile Labs, Seattle startup, venture-backed, logistics technology, household goods moving, item delivery, furniture delivery, asset-light logistics, sharing economy, regulatory challenges