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Google and Softbank invest in Chinese truck-hailing firm Manbang

Google and Softbank invest in Chinese truck-hailing firm Manbang
[Photo: Christian Chen/Unsplash]

Softbank’s Vision Fund and Google-owner Alphabet’s investment arm, CapitalG, are among the investors that have invested $1.9 billion into Manbang, reports Reuters. Manbang is often described as China’s “Uber for trucks” and allows snipers to connect with truck drivers to transport their goods across China. Currently, Manbang boasts that 5.2 million out of the 7 million trunk line trucks in China are members of its alliance. Manbang says the new round of investment will allow it to “become the world’s largest platform in terms of transportation capacity.”

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