SoftBank mulls billion-dollar Manbang investment

Mar 27, 2018 • Robert Lavine

Tencent and Baidu-backed trucking services platform Manbang Group is seeking between $500m and $1bn at a valuation of about $5bn.

Telecommunications firm SoftBank is considering making an investment of up to $1bn in China-based courier and delivery services marketplace Manbang Group through its Vision Fund, the Wall Street Journal reported yesterday.

Also known as Full Truck Alliance, Manbang operates an online platform where users with goods to deliver can connect to truck drivers with surplus space in their vehicles. It also offers insurance, vehicle financing and working capital loans to operators in its platform.

The company was formed when peers…

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