SoftBank-backed Full Truck Alliance confidentially files for IPO
March 1, 2021
Chinese freight company Full Truck Alliance has filed confidentially for a US IPO that could raise $1 billion, Bloomberg reported. The company, whose Chinese name is Manbang, operates a marketplace to match truckers and shippers that is similar to platforms from US-based Uber Freight and Convoy. Full Truck Alliance raised $1.7 billion in November and has received backing from SoftBank, Tencent and Alphabet's CapitalG.