China’s Two Biggest Uber-Like Services For Truckers Agree to Merge



Yunmanman and Huochebang, China’s two biggest Uber-like services connecting truckers with cargo, have agreed to merge, creating a company valued at more than $2 billion.

The two online freight dispatching services have shaken up China’s 5 trillion yuan ($757 billion) trucking industry, which carries 75% of the nation’s commercial cargo.

Wang Gang, an angel investor in car-hailing giant Didi Chuxing, has been tapped to become the chairman and CEO of the merged entity, the companies said in a joint statement. However, they didn’t reveal a timeline for the merger or any regulatory requirements that need to be met before the deal goes through.


Read more…

Editorial Team

Our Editorial Team curates "news you can use" from hundreds of local newspapers, magazines, blogs and online sources, press releases, radio and TV news shows from around the world. We take great pride in being providing Daily Business Intelligence that's all business and no politics.