Entitled to a Shipping Refund? Get Help Collecting It

Major carriers offer an oft unknown money-back guarantee for on-time deliveries and provide a full refund for late shipments. While eligible refunds can amount to significant sums, it is a time-consuming process to monitor each package. Entrepreneur Magazine speaks to 71lbs Founder & CEO, Jose Li, on issues to consider in evaluating third-party recovery firms.

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Pricing Changes Will Hit Smallest E-Commerce Shippers Hardest

Earlier this year, both FedEx and UPS announced that they would begin charging by package size, in addition to weight, for ground services. While the exact impact of the new dimension-based pricing structure will ultimately depend on how prepared a company is to adapt its strategy, it is clear that small businesses will be hit hardest. Jose Li, Founder and CEO of shipping analytics company 71lbs, weighs on the implications of these changes and alternatives for reducing shipping costs.
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Hefty year for 71lbs: New funding, New Offices, Meteoric Growth

The Miami Herald’s Nancy Dahlberg follows up on her 2013 profile of 71lbs, reporting on the company’s “meteoric growth.” Jose Li, Founder and CEO, says 71lbs has grown 950% over the past 12 months, having recently announced its $2 million Series A financing and now serving more than 2,000 customers. In looking ahead, Li says “we are adding shipping analytics and savings optimization services in our product roadmap to continue our company mission of democratizing logistics for small and medium businesses.”

Read the full article from The Miami Herald

How Your Business Can Cash In on On-Time Delivery Guarantees

Major shippers offer money-back guarantees for late shipments that are often unknown and, more often, go uncollected.  Fort Lauderdale-based  71 lbs is making it easier for shippers to identify and collect these money-back guarantees. Led by CEO and Co-founder Jose Li, 71 lbs’ software automatically audits the delivery records of your shipping account, identifying late deliveries. The platform then automatically applies for a refund to the shipper’s account. Shippers pay only a percentage of the refund for using 71 lbs, costing users nothing if the company does not identify any refunds.

Read the full post on the Intuit Small Business Blog.

Entitled to a Shipping Refund? Get Help Collecting It. | Entrepreneur.com

Major carriers offer a, oft unknown, money-back guarantee for on-time deliveries and provide a full refund for late shipments. While eligible refunds can amount to significant sums, it is a time-consuming process to monitor each package and submit refund claims within the stated time window. Entrepreneur Magazine speaks to 71lbs Founder & CEO, Jose Li, on issues to consider in evaluating third-party recovery firms to assist companies in receiving their eligible refunds.

Read the full article from Entrepreneur.

Late delivery? Davie Startup 71lbs Helps Get Refunds

South Florida Business Journal reporter Paul Brinkmann talks with Davie-based 71lbs CEO, Jose Li, on the company’s focus and progress to date. 71lbs helps small and midsize businesses collect late shipments refunds by automating the tracking and filing processes. With an estimated $2B in refunds left on the table, 71lbs aims to help businesses easily and automatically collect the refunds their owned. “We’re very busy; it’s good. We are 30 percent higher in business volume than last month,” Li said. “If your driver is one minute late with a package, you can get refund. The catch is, you have to file a claim correctly and quickly.”

Read the full article from the South Florida Business Journal.

Democratizing Shipping for Small Businesses

Jose Li, CEO and Founder of 71lbs, appears on Bloomberg Television’s “Bloomberg Surveillance” to discuss how the company helps SMB customers collect refunds on shipping guarantees. With over $2B in unclaimed refunds each year, 71lbs is enables customers to automatically track and file refund claims.

The Startup Cashing in on FedEx’s On-Time Guarantee

Writing for Bloomberg Businessweek, Patrick Clark talks with CEO Jose Li about Fort-Lauderdale-based 71lbs. Li, whose career in shipping includes tenures at Jamba Juice and FedEx, identified a strategy employed by Fortune 500 companies, that he thought he bring to SMB clients– tracking late shipments and collecting refunds. 71lbs automatically audits customers’ shipping accounts and files late shipment claims for refund under FedEx and UPS money back guarantees. The seven-employee company currently has approximately 1,000 customers and is on track to break even later this year.

Read the full article from Bloomberg Businessweek.