Hong Kong’s GoGoVan merges with 58 Daojia freight unit
Hong Kong-based GoGoVan, a VC-backed logistics start-up, and 58 Suyun, a freight unit of Chinese online-to-offline local services platform 58 Daojia, have agreed on an all-share merger that will create Asia’s largest online platform in the intra-city logistics business.
58 Daojia, also known as 58 Home, will hold a majority stake in the combined company, which will be worth more than $1 billion. The business will operate under the 58 Suyun brand in China and GoGoVan in...
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