Lalamove Valuation, Funding & Investors

Uber Freight is a San Francisco-headquartered digital freight brokerage founded in 2017 that matches shippers with carriers through its app and TMS platform. It handles full truckload shipments across the US, offering transparent pricing, instant booking, and ELD-compliant tracking. Uber Freight serves clients like Tyson Foods and Nestle, managing $5 billion in annual freight volume with 100,000-plus carriers. The company expanded into Mexico in 2022 with cross-border services.

Meesho Ltd is a technology platform that integrates commerce, logistics, and content creation to support e-commerce activities under the Meesho brand. The Company also provides digital financial services by facilitating financing arrangements between non-banking financial companies and sellers to support access to credit, and it operates a supply-chain service for the delivery of groceries and other products. The Company operates through the Marketplace segment, which is a technology platform connecting consumers, sellers, logistics partners, and content creators, and the New Initiatives segment, which includes a low-cost local logistics network for daily essentials and a digital financial services platform. The majority of the Company's revenue is generated from the Marketplace segment.

Pinterest is a social media platform with a focus on product and idea discovery. Pinterest users, or pinners, can leverage the platform as they go about gathering ideas on topics such as home improvement, fashion, cooking, and travel. The company has more than 500 million monthly active users, two thirds of whom are female. Pinterest generates revenue by selling digital ads on its platform. While the platform’s user base spans the globe, the vast majority of its revenue stems from ads shown to North American users.

TFI International Inc is involved in the provision of transportation and logistics services across the United States, Canada, and Mexico. The company's reportable segments are; Less-Than-Truckload, which derives maximum revenue, Truckload, and Logistics. The Less-Than-Truckload segment engages in pickup, consolidation, transport, and delivery of smaller loads; the Truckload segment deals with full loads carried directly from the customer to the destination using a closed van or specialized equipment to meet customer's specific needs; and the Logistics segment provides asset-light logistics services, including brokerage, freight forwarding, and transportation management, as well as small package parcel delivery. Geographically, the company generates maximum revenue from the United States.

Knight-Swift Transportation is the largest full-truckload carrier in the US, with a diversified transportation offering. Pro forma for the US Xpress deal, about 82% of revenue derives from Knight’s asset-based trucking business, with full truckload (for-hire dry van, refrigerated, and dedicated contract) making up 69% and less than truckload 13%. Truck brokerage and other asset-light logistics services make up 9% of revenue, with intermodal near 6%. Knight's intermodal operations use the Class I railroads for the underlying movement of its shipping containers and include drayage (regional trucking services to and from inland intermodal ramps/terminals). The remainder of revenue reflects services offered to shippers and third-party truckers, including equipment maintenance and leasing.

Saia ranks among the 10 largest less-than-truckload carriers in the United States, with more than 200 facilities and a fleet of more than 6,500 tractors and 26,000 trailers. As a national LTL carrier, the firm offers time-definite and expedited options for shipments ranging between 100 and 10,000 pounds. Saia ranks among the top-tier providers in terms of profitability.

The CrownX is Masan Group's integrated consumer and retail platform in Vietnam. It combines the country's largest modern grocery network (WinCommerce) with a top FMCG manufacturer (Masan Consumer Holdings). Its mission is to build an omnichannel "Point of Life" ecosystem for daily essential and financial services. The CrownX consolidates several key Masan subsidiaries to capture a large share of the Vietnamese consumer wallet.

Allegro is a large Polish holding company with a suite of complementary online retail properties including Ceneo (price comparisons), EBilet (live events tickets), We|Do (courier services), and the Mall Group (online and offline retail in adjacent Central European markets). The firm is best known for its eponymous e-commerce marketplace, which generates predominantly third-party product sales across the home and garden, electronics, health and beauty, automotive, and supermarket categories. The operator boasts 45% to 50% share of the Polish e-commerce market by GMV, per our calculations and PWC data, and has built out a suite of ecosystem functionality that includes financial, logistics, and advertising services.

Snapdeal is an e-commerce marketplace offering deals on electronics, fashion, home appliances, and daily essentials across India. New Delhi-headquartered and launched in 2010, the platform leads in categories like watches, eyewear, and jewelry according to industry surveys. Snapdeal serves millions of customers through its app and website, backed by investors including Nexus Venture Partners and Bessemer Venture Partners.

Kuaishou Technology is a social media platform where users create, watch, and share short-form videos. Approximately half of the company’s revenue comes from advertising. Additionally, Kuaishou generates revenue through livestreaming, where fans purchase virtual gifts to tip hosts. The platform also features livestreaming e-commerce, enabling users to buy products showcased in videos, with Kuaishou earning a commission on each transaction. Kuaishou’s primary competitors are ByteDance’s Douyin and Tencent’s Video Accounts. Notably, Tencent owns a 16% stake in Kuaishou.

Schneider National Inc is a provider of surface transportation and logistics solutions in North America. The Company offers truckload, LTL carriers, railroads, ocean carriers, airlines to a diverse customer base throughout the continental United States, Canada, and Mexico. The company's segments include Truckload, Intermodal, Logistics and other. It generates maximum revenue from the Truckload segment.

Vend Marketplaces ASA is a family of digital consumer brands with growing positions within online marketplaces in the Nordics. With effect from the fourth quarter of 2024, the operating segments are Mobility, Real Estate, Jobs, Recommerce and Delivery. It derives maximum revenue from Mobility Segment. Geographically, it operates in Norway, Sweden, Denmark, Finland and Others. Its brands include Blocket, Finn, Tori, Dba, Oikotie, Bytbil, qasa, and others.

Whatnot is a San Francisco-headquartered livestream shopping platform where buyers and sellers engage in real-time auctions for collectibles, fashion, electronics, and more.

Following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022, XPO is moving closer to becoming a pure-play asset-based less-than-truckload carrier. We estimate LTL shipping makes up 60% of total revenue, with XPO's European truckload and LTL operations making up 40%. However, XPO's LTL segment EBITDA mix is much higher than 60%. We believe XPO intends to divest its European trucking division once it finds the right buyer.

Kakaku.com Inc. is a Japan-based internet company operating various web services. The company operates through four segments. The Incubation Business includes real estate and housing site Smity, travel review site Fort Travel, movie information site Movie.com, automotive site web CG, dynamic package systems, and the bus comparison site Bus Comparison Navi. The Job Box Business operates the job search site Job Box and job information site Jobcube. The Kakaku.com Business operates the purchasing support site Kakaku.com and engages in insurance services through Kakaku.com Insurance Co., Ltd. The Tabelog Business operates the restaurant search and reservation site Tabelog. It generates the majority of its revenue from the Tabelog business segment.

Yamato Holdings Co Ltd provides logistics and shipping services in Japan and internationally. The company operates through five segments: Contract Logistics Business, Express Business, Global Business, Mobility Business, and Others. It generates the majority of its revenue from the Express Business segment. It also offers shared services, which include highway transportation and personnel placement.

Houzz is a Palo Alto-headquartered online marketplace for home design and remodeling that links homeowners with design professionals worldwide. The platform hosts the world's largest residential design image gallery, where users browse ideas, purchase furnishings from vendor shops, and hire architects, interior designers, and contractors. Houzz maintains offices in London, Berlin, Sydney, Moscow, Bangalore, Tel Aviv, and Tokyo to support its global community of homeowners and over one million professionals.

Mercari operates the largest consumer-to-consumer secondhand goods trading platform in Japan in Mercari, with over 23 million monthly active users and over JPY 1.1 trillion in gross merchandise value in fiscal 2022. We estimate that it currently has over 40% market share in the online C2C market, making it the top platform in Japan. It operates a domestic fintech business and a C2C marketplace app business in the US as well. Domestic business roughly accounts for over 95% of its total GMV.