Chinese social networking company acquires Trucker Path
December 29, 2017
•Land Line Staff
Trucker Path Inc. has recently been acquired by Chinese company Renren, according to a news release. Renren operates social networking services and an internet finance business in China.
Renren will acquire 100 percent of Trucker Path, a social platform for the trucking industry in the United States. The Chinese company will take over the Trucker Path app, a user-based data app where truckers aid each other in trip planning. According to Trucker Path’s website, “thousands of truckers all over the country use the app to discuss the best truck stops, available parking nearby, weigh stations status, fuel prices and more.” More than 600,000 drivers are involved in the community.
In addition to the Trucker Path app, the company also launched the Truckloads app, a mobile marketplace providing freight load matching with over 3 million loads posted monthly.
According to Renren’s website, the company’s internet finance business is primarily auto financing. Renren does not appear to own any other transportation-related businesses outside of the latest acquisition. The news release notes that the Trucker Path acquisition “means an entry into the transportation sector,” possibly intelligent transportation solutions or autonomous vehicles. To what extent is unclear. A company representative could not immediately be reached.
“Currently, the two major emerging technology areas are artificial intelligence and blockchain,” Renren CEO Joseph Chen said in a statement. “With the acquisition of the Trucker Path social platform and the Truckloads freight marketplace, the company will be well positioned technologically to drive innovation within this important industry.”