- Lalamove officially enters the U.S. after seven years of launch
- The company makes its debut in the Dallas Fort Worth area
- It will launch in Chicago and Houston in the coming days
- This startup was the first to hit the $1 billion unicorn valuation mark in Hong Kong
Lalamove is an on-demand logistic service based in Hong-Kong. It is functional in China, Southeast Asia, and Latin America. Currently, the company has officially made it to the United States. Lalamove made it possible after seven years of its launch.
Lalamove aims to seize the growing demands for delivery services. COVID 19 pandemic has kept millions of Americans at home. This in turn escalated the demands for delivery services in the country.
Lalamove is making its entry in the Dallas-Fort Worth area. This region is a nucleus for distribution and logistics activity in the U.S. Furthermore, the services will be launched in Chicago and Houston.
The startup was the first to hit the $1 billion unicorn valuation mark in Hong- Kong. Lalamove has a highly localized and multifold business. It elementally works as an Uber for business. In China, the company is known under the name of Huolala. Huolala chiefly serves as a negotiator between cargo ships and truck drivers in China.
In Southeast Asia, it works similarly. Additionally, it even delivers food for restaurants. In the U.S. it ensures the availability of sedans, pickup trucks, and SUVs 24/7. It also looks after retail, e-commerce, manufacturing, and construction. The starting shares of the company is $8.90.
“Delivery is essential, especially in the COVID 19 pandemic. We are excited to work with business in the Dallas- Fort- Worth area”. As said by Blake Larson, international managing director at Lalamove. He was the former co-founder of Rocket Internet.
How did Lalamove start?
Lalamove was founded by a Hong-Kong entrepreneur. Both GoGoVan and Lalamove scored funding from heavyweight institutions from China and elsewhere. Investors of Lalamove include Hillhouse Capital and Sequoia Capital China. Xiaomi’s founder’s Shunwei Capital is also one of its investors.
A Chinese team operates the Chinese division Huolala, in the logistic startup. The overseas section of Lalamove is managed by international teams. Right now It has onboard 500 partner drives in Dallas-Fort Worth. By the end of this year, the company is to make it 1000. It is also recruiting for its regional operational work.
Lalamove affirms to match more than 7 million users. It aims for over 700,000 delivery partners in 22 markets across the world.
