$13.3 Million For Startup That Wants To Kill Snail Mail

http://EPost.ca is the same, but run by the Canadian gov't.

A friend of mine and I had an idea for this in 2001, and even made it into an incubator. But everything folded shortly thereafter due to the bubble bursting. The company probably deserved to die.

The main market is traveling salesmen and businessmen who are away from home for extended periods of time. If you're in China 3 weeks every quarter, for instance, a service like this is immensely valuable. But it became obvious to us that it was a niche product, and while cool, wouldn't really fly. And it is definitely not worth a $13.3 million investment.

Read the comments - the founder left a couple of very nice replies at the bottom of the page.

It seems like a lot of people (Arrington especially) don't bother to understand the idea or the market.

To me it looks like a fine business, and the success so far speaks for itself.

This is difficult to believe. People are worried about privacy with GMail or with giving Mint their bank info - but are ok with some company looking at their postal mail? Bank statements, tax docs, SS statements...? Seriously?

This exact startup idea is the canary in the mine for investment bubbles :-)

That's a pretty cool idea.