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 15/12/2017, 22:46
tx-logistik-buys-40-bombardier-locomotivesTROISDORF, Germany: December 14, 2017. Italian rail company TX Logistik has signed a purchase and maintenance contract with Bombardier Transportation for...
Written on 15/12/2017, 21:57
turkish-airlines-signs-airport-transfer-dealISTANBUL: December 14, 2017. Turkish Airlines has signed a consulting contract with Munich Airport International (MIA) to help facilitate the transfer of...
Written on 15/12/2017, 19:59
xeneta-to-add-air-to-ocean-rate-platform-in-2018OSLO: December 14, 2017. Ocean rate platform Xeneta is adding air cargo rates to a product suite that it says will "bring fresh levels of transparency to...
Written on 15/12/2017, 17:34
cargolux-gets-the-measure-of-wind-farmsLUXEMBOURG: December 15, 2017. Cargolux and Globaltrans Internationale Logistik have delivered two wind measuring buoys for two 2.8GW capacity wind...
Written on 15/12/2017, 15:44
brussels-bounces-backBRUSSELS: December 15, 2017. Brussels Airport is finalizing plans for a new cargo warehouse and additional apron space in anticipation of new services by...
Written on 14/12/2017, 21:15
dhl-tests-abc-pharma-service-to-nicaraguaMOSCOW: December 13, 2017. DHL Global Forwarding (DGF) has tested the reliability of using the AirBridge Cargo Airlines (ABC) pharma logistics service...
Written on 14/12/2017, 19:34
berlin-gets-electric-deliveries-from-dachserKAMPTEN, Berlin: December 14, 2017. Dachser and DHL are the launch customers of Daimler's all-electric FUSO eCanter commercial vehicle. Both companies...
Written on 13/12/2017, 22:04
delta-adds-dusseldorf-to-ceiv-networkATLANTA: December 13, 2017. As Delta Air Lines announces an order for 100 Airbus A321neo, its Cargo division says it now has seven CEIV-approved...
Written on 07/12/2017, 22:33
russian-railways-to-invest-rub7-7-trillionMOSCOW: December 04, 2017. Speaking at the III Railway Congress at the beginning of this month, OJSC Russian Railways president Oleg Belozerov said the...
Written on 07/12/2017, 16:12
first-b777-freighter-for-turkish-cargoISTANBUL: December 07, 2017: Turkish Airlines has taken delivery of the first of two B777 freighters due to arrive in 2017 at a ceremony in Istanbul this...
Written on 06/12/2017, 20:49
cma-cgm-supports-green-santa-clausMARSEILLE: December 06, 2017. CMA CGM and French clothing manufacturer Kaporal Group have launched a limited edition collection called 'Shipping the...
Written on 06/12/2017, 16:57
jal-invests-in-supersonic-boomTOKYO/DENVER: November 05, 2017. Japan Airlines (JAL) has invested US$10 million and placed options for up to 20 Boom Supersonic aircraft as part of a...
Written on 05/12/2017, 21:47
freightweek-news-update-week-49COPENHAGEN: Maersk Line makes westbound network changes as Asian port congestion causes sailing delays. Read more: Advisory.pdf PARIS: December 08, 2017....
Written on 05/12/2017, 17:13
virgin-hyperloop-one-to-link-bengaluru-and-chennai-in-25-minutesBENGALURU, India: December 05, 2017. Virgin Hyperloop One has signed an MoU with the Indian state of Karnataka to determine the economic impact of its...
Written on 01/12/2017, 18:49
dhl-s-first-converted-a330-300-just-needs-paintDRESDEN: December 01, 2017. DHL Express has taken delivery of the first A330-300 Passenger-to-Freighter (P2F) conversion from Elbe Flugzeugwerke (EFW),...
Written on 29/11/2017, 21:29
cargolux-nca-code-share-to-include-frankfurt-hahnLUXEMBOURG: November 29, 2017. Cargolux has signed a new code-share and capacity swap agreement with Nippon Cargo Airlines (NCA) between Europe and Japan...
Written on 29/11/2017, 00:08
smart-retailer-ocado-signs-ecommerce-deal-with-groupe-casinoLONDON/PARIS: November 28, 2017. UK online grocery retailer Ocado Group is to provide its proprietary eCommerce technology to French bricks and mortar...
Written on 28/11/2017, 19:06
swiss-world-cargo-expands-pharma-corridorsZURICH: November 28, 2017. Swissmedic, responsible for the authorization and supervision of therapeutic products in Switzerland, has renewed the...
Written on 27/11/2017, 20:02
freightweek-news-update-week-48BRUSSELS: November 30, 2017. The European Commission has updated its list of 178 airlines banned from the EU for safety reasons. Read...
Written on 26/11/2017, 22:46
air-canada-cancels-freighter-networkTORONTO: November 24, 2017. Air Canada Cargo is terminating its B767 freighter services to and from Mexico, Dallas-Fort Worth, Atlanta, Bogota, Lima and...

- powered by Quickchilli.com -