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Wireless

Softbank, Google invest in Chinese truck-hailing platform Manbang

Tuesday 1 May 2018 | 19:37 CET | News
Japan's Softbank and Alphabet Inc's venture capital fund CapitalG have joined the USD 1.9 billion investment round in Chinese truck hailing service platform Manbang, Reuters reports, citing a statement from the Chinese company. Manbang, formally known as Full Truck Alliance Group, said the investment was led by SoftBank's Vision Fund, which counts Apple Inc, Foxconn and Saudi Arabia's sovereign wealth fund among its backers. Investors also include state-backed private equity firm China Reform Fund and Hong Kong-based investment firm Ward Ferry, Manbang also said.

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Categories: Mobile & Wireless
Companies: Alphabet / Foxconn / Softbank
Countries: China
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