English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

New intra-city logistics leader for Asia

BEIJING: August 28, 2017. 58 Home, a leading online marketplace for merchants and consumers, has merged its logistics unit 58 Suyun with Hong Kong-based intra-city delivery company Gogovan.

The new company will provide full on-demand logistics and freight services to both corporate and individual customers in China, Hong Kong, Taiwan, Singapore, South Korea and India.

gogovan 1Jeremy Choy head of M&A at investment bank China Renaissance noted: "The merger marks the largest M&A transaction between a mainland China start-up and a Hong Kong start-up. It also changes the landscape of the trillion-dollar intra-city logistics market by creating the Asian market leader."

Branded 58 Suyun in China and Gogovan outside China, Xiaohua Chen, founder and CEO of 58 Home will act as chairman of the new business and Gogovan founder and CEO Steven Lam as CEO.

58 Home launched 58 Suyun in September 2014 to focus on intra-city logistics and now covers more than 100 cities in Mainland China with over one million registered drivers.

Founded in July 2013, Gogovan expanded to Taiwan and Singapore in 2014 and Mainland China and South Korea in 2015. The company says it has 180,000 registered drivers in 14 cities across Asia.

Chen commented, "We are very impressed by Gogovan's great achievements and impacts as a start-up in the Southeast Asian market, as well as the management team's entrepreneurial spirit and their ability to innovate and execute. The combined company lays the foundation for the combined company to become the global leader in intra-city freight services."

Lam added: "We are delighted to form our strategic partnership with 58 Suyun. The combined company will leverage 58 Suyun's existing premium brand, large users base and online traffic for a quick expansion to 300 cities in mainland China."

More News

Written on 19/10/2017, 16:33
kerr-to-leave-etihad-cargoABU DHABI, October 19, 2017. Etihad Cargo senior vice president David Kerr is to leave the organization at the end of 2017. The airline said his successor...
Written on 18/10/2017, 18:56
kn-profits-from-eurasia-rail-linksHAMBURG: October 17, 2017. Six months after its launch, Kuehne + Nagel (KN) has added points in northern China, Japan and South Korea to its Eurasia...
Written on 17/10/2017, 21:07
bbc-chartering-and-jumbo-create-project-cargo-allianceLEER, Germany/ SCHIEDAM, Netherlands: October 17, 2017. Heavylift and project cargo ocean carriers BBC Chartering and Jumbo have agreed to collaborate in...
Written on 17/10/2017, 15:53
compressors-support-turkmenistan-gas-for-chinaCALGARY: October 17, 2017. Bolloré Logistics China has chartered four AN-124-100 flights to ship compressor skids from Calgary, Canada to the vast...
Written on 16/10/2017, 19:43
freightweek-news-update-week-42MARIETTA, GA: October 19, 2017. Lockheed Martin has successfully completed the first flight of its LM-100J, the 17th version of its C-130J Super Hercules...
Written on 16/10/2017, 15:47
maserati-makes-an-entrance-at-naritaMODENA: October 16, 2017. Maserati chartered an Air Bridge Cargo Airlines 747-400 freighter for the Japan launch of its MY18 Maserati GranTurismo and...
Written on 13/10/2017, 18:36
apl-adds-to-guaranteed-service-suiteSINGAPORE: October 09, 2017. APL has renamed its two guaranteed service offerings 'Eagle Guaranteed' and added 'Eagle Go' to the suite with a guarantee of...
Written on 13/10/2017, 16:59
dp-world-to-expand-in-dominican-republicDUBAI: October 12, 2017. DP World is planning to expand its US$400 million Caucedo port operations in the Dominican Republic with a new 400-meter berth...
Written on 12/10/2017, 19:48
hawaii-to-meet-the-maxDALLAS: October 12, 2017. With 44 consecutive years of profitability, Southwest Airlines has announced it will begin service to Hawaii from the U.S....
Written on 12/10/2017, 18:43
skyteam-members-look-towards-joint-ventureGUANGZHOU/AMSTERDAM: October 12, 2017. China Southern Cargo and Air France KLM Martinair Cargo have taken the first step towards a joint venture with the...
Written on 12/10/2017, 16:17
turkish-airlines-outperforms-marketISTANBUL: October 12, 2017. Turkish Airlines reported a 25 percent year-on-year increase in air cargo carried to over 97,000 tons in September as traffic...
Written on 10/10/2017, 16:47
cargolux-signs-cargo-codeshare-with-emiratesDUBAI/LUXEMBOURG: October 10, 2017. Cargolux and Emirates SkyCargo have signed a cargo codeshare agreement for passenger and freighter services. Both...
Written on 10/10/2017, 15:24
freightweek-news-update-week-41PITTSBURGH, PA: October 15, 2017. A Qatar Airways Cargo Boeing 777 freighter arrived at Pittsburgh International Airport last Thursday as the airline's...
Written on 06/10/2017, 21:28
miami-and-iata-agree-air-cargo-outlook-remains-strongGENEVA: October 04, 2017. IATA reports a 12.1 percent year-on-year increase in freight tonne kilometers (FTKs) in August for its members, the fifth time...
Written on 06/10/2017, 17:05
more-flying-fish-from-emirates-sky-cargoCOLOMBO: October 03, 2017. Emirates Sky Cargo says Sri Lanka fish exports have been booming in the past 12 months following the lifting of European...
Written on 05/10/2017, 21:25
wal-mart-to-provide-a-new-parcel-serviceBENTONVILLE, AK: October 03 2017. Walmart has acquired Parcel, a technology-based, 24/7 service that uses routing algorithms to deliver perishable and...
Written on 05/10/2017, 20:44
french-fruit-exporter-acquires-danish-reefersTINGLEY, Denmark: October 03, 2017. British-registered Africa Express Line Ltd (AEL) has acquired 500 Star Cool integrated containers from Maersk...
Written on 05/10/2017, 19:36
qatar-cargo-adds-helsinki-as-finnish-pharma-industry-expandsDOHA: October 03, 2017. Qatar Airways Cargo has added Helsinki as its 74th pharma destination following the addition of Dublin in June this year. Chief...
Written on 05/10/2017, 16:53
volga-dnepr-returns-landshut-to-germanyFRIEDERICHSHAFEN, Germany. October 05, 2017. A former Lufthansa B737-200 aircraft, hijacked in 1977 by a faction of the Popular Front for the Liberation...
Written on 04/10/2017, 19:09
freightweek-news-update-week-40DOHA: October 08, 2017. Qatar Airways Cargo has taken delivery of its 13th B777 freighter. The airline's fleet now includes 22 freighters: eight A330F, 13...

- powered by Quickchilli.com -