At our TechCrunch China event in June we discussed the bright future that Hong Kong’s startup scene has, despite some big challenges. This week the country passed a notable milestone as it got its first $1 billion valued startup, better known as a unicorn.
The company in question is GoGoVan, a logistics on-demand provider that connects van drivers and customers for transporting goods. GoGoVan and others like it, including fellow Hong Kong company Lalamove, are often labeled as ‘Uber for delivery,’ but most customers are from the business world.
GoGoVan has passed the $1 billion mark precisely because it is looking to go beyond the B2B market. It has merged with China-based 58 Suyun, a fellow logistics on-demand platform that is focused on serving consumers.