The outbreak of the novel coronavirus has boosted demand for online grocery stores in China, including those backed by tech giants Alibaba and Tencent, Bloomberg News reported. As many Chinese consumers are staying at home to reduce the risk of infection, they are using apps to get groceries delivered to their homes. Tencent-backed grocery delivery startup Missfresh has seen orders jump, and so...
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Logistics Startup Next Trucking Tries to Sell Itself
Sequoia Capital–backed logistics startup Next Trucking, facing a slowdown in the trucking sector, is trying to sell itself, according to people familiar with the matter and a pitch deck reviewed by The Information. Next has enlisted the help of BG Strategic Advisors, a Florida-based boutique investment bank specializing in transportation and logistics mergers and acquisitions, according...
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