GoGoVan to merge with 58 Suyun
Hong Kong-based on-demand delivery start-up GoGoVan is set to merge with 58 Suyun, the freight business of the Chinese online local-services market place, according to local reports. The deal will reportedly created a merged business worth more than US$1bn – making it Hong Kong’s first “unicorn”.
Establishing in Hong Kong in 2013, GoGoVan has since expanded to cover 13 cities across Asia with operations in Singapore, China, Taiwan, South Korea and India. The company says that it has built up a driver network of 150,000.
According to a report in the South China Morning Post, GoGoVan founder Steven Lam Hoi-yuen will be chief executive of the merged company, which will be known as 58 Suyun in mainland China and GoGoVan in other markets.
