Lalamove responded that there is no specific listing plan now.
On October 25, it was reported that the leading freight platform Lalamove decided to hire CCB International and Bank of America as sponsors for its listing in Hong Kong, and may submit its listing application as soon as the end of this month.
Previously in June 2021, a source said that Lalamove had secretly submitted IPO application documents in the United States and planned to raise USD 1 billion. A month later, it was announced that Lalamove would transfer from listing in the United States to Hong Kong instead.
According to Tianyancha, Lalamove has completed eight rounds of financing in the past six years, totaling USD 2.46 billion (about CNY 15.7 billion). In January 2021, less than a month after the completion of Series E funding, Lalamove announced the completion of Series F financing of USD 1.5 billion (about CNY 9.57 billion). This round was led by its old shareholders Sequoia Capital China Fund and Hillhouse Capital, followed by Boyu Capital, Tiger Fund, Vitruvian Partners, D1 capital and other institutions.
Founded in 2013, Lalamove (Chinese: Huolala) is an 'Internet + logistics' company engaged in O2O city, instant and trucking business. Integrating social transport capacity resources through sharing mode, Lalamove has reserved massive transport capacity, realizing real-time intelligent scheduling of various models by relying on mobile internet, big data and artificial intelligence technology, which provides efficient logistics solutions for individuals, merchants and enterprises.
As of May 2021, Lalamove had covered 363 cities in mainland China, with an average of 620,000 monthly live drivers and 8 million monthly live users. In addition, Lalamove is still exploring the global market. Since 2017, Lalamove has entered the Southeast Asian market, operating freight services in overseas cities including Singapore, Bangkok, Manila and Ho Chi Minh City, and its business further expanded to India and Brazil in 2019.