GOGOX
| Company type | Private |
|---|---|
| Industry | Ride-sharing, Logistics |
| Founded | 2013 |
| Founder | Steven Lam Hoi-yuen, Nick Tang Kuen-wai, Reeve Kwan Chun-man |
| Headquarters | Hong Kong , Hong Kong |
Area served | Asia (Hong Kong, Singapore, mainland China, Taiwan, South Korea, India) |
| Products | Urban freight and goods delivery services |
GOGOX, initially known as GoGoVan, is a ride-sharing platform based in Asia that focuses on urban freight and goods delivery services. Established in 2013 by Steven Lam Hoi-yuen, Nick Tang Kuen-wai, and Reeve Kwan Chun-man, the company began operations in Hong Kong before expanding its presence to Singapore, mainland China, Taiwan, South Korea, and India.
History
Founded in Hong Kong in 2013, GoGoVan was developed to provide a quicker solution for van rental after its founders encountered difficulties coordinating van transportation during a lunchbox delivery venture. While conventional van call centers in Hong Kong required 20 to 30 minutes to secure a vehicle, GoGoVan’s application shortened this process to approximately 10 to 15 seconds by enabling direct interaction between drivers and customers. Within its initial year, the app amassed over 100,000 downloads and registered more than 7,000 drivers.
The company entered the Singapore market in 2014, attracting 200 drivers within the first week of launch. By the end of that year, GoGoVan commanded about half of Hong Kong’s van booking sector with a driver base of 18,000.
In 2015, GoGoVan broadened its operations to Chinese cities such as Beijing, Shenzhen, and Taipei, as well as Seoul. The growing popularity of the app led to the reduction or shutdown of traditional van call centers in Hong Kong due to its strong market position.
A significant development took place in late 2017 when GoGoVan merged with mainland China’s rival 58 Suyun, instantly expanding its network to encompass more than 300 cities across China.
In July 2020, coinciding with its seventh anniversary and reflecting a strategic long-term vision and clearer brand identity, GoGoVan rebranded itself as GOGOX.
Funding
The company’s Series A financing round generated US$6.5 million, spearheaded by Centurion Private Equity. In June 2015, GoGoVan raised US$10 million during a Series B+ round co-led by returning investor Renren alongside newcomer Zemin Hu.
Its largest funding event occurred in May 2016 with a Series C round of undisclosed amount. This investment was part of Alibaba’s US$130 million startup fund for Hong Kong companies, with GoGoVan as a primary beneficiary. Additionally, Singapore Press Holdings became a key participant.
In July 2021, GoGoX secured US$100 million in funding led by BOCOM International and Cyberport Macro Fund. Other contributors included Alibaba, 58.com, Cainiao, China InnoVision, and Qianhai Equity Investment Fund.