A cofounder of Pirate Ship, a popular shipping program for small online sellers, is accusing his former partner of selling him short. The Jackson Hole News & Guide describes the allegations of a lawsuit that Jameson Morris filed against Bjorn Borstelmann, cofounder and CEO.
The two started the company in 2014, and in 2016, it secured a “game-changing” partnership with the U.S. Postal Service.
According to the report, Morris said in his lawsuit that he sold his share in the company under duress in 2019, and he alleged that Borstelmann had withheld certain information that kept him from bargaining for a much higher price. He claimed his shares at the time were worth between $43 million and $86 million rather than the $3.53 million he received for his 15% stake in the company.
But in a motion to dismiss filed on January 19, attorneys for the defendants characterized Morris’ 11 claims as too vague and “seller’s remorse.”
Pirate Ship caught on early with Etsy sellers and spread to sellers on other online venues through word of mouth thanks to offering cubic pricing and its ease of use. The Jackson Hole News & Guide has more information for those online sellers interested in some details behind a service they may use.
