A Chinese firm has purchased a popular mobile app that crowdsources trip planning information for truckers and is a load board for freight.
Renren Inc., which operates a social networking service and internet finance business in China, Friday announced is is acquiring Trucker Path Inc.
No details of the deal for the almost three-year-old company were announced. But, Renren has been an investor in Trucker Path since its founding.
According to a statement from Renren, Trucker Path has more than 600,000 monthly users it claims represents a third of all long haul truckers in the U.S.
The acquisition of Trucker Path represents Renren’s entry into the transportation sector.
“Currently, the two major emerging technology areas are artificial intelligence and blockchain,” said Joseph Chen, chairman and chief executive officer of Renren. “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.”
Renren Inc. operates a social networking service and an internet finance business in China.