China’s Uber-for-Trucks Breaks Even En Route to IPO
- Truck-sharing startup didn’t complete previous funding round
- Full Truck Alliance says it has no timetable for going public
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China’s Uber-for-trucks startup Full Truck Alliance said it’s weighing an initial public offering after breaking even from May, defying a sector-wide downturn.
The company, which is backed by SoftBank Group Corp. and Tencent Holdings Ltd., said its improved financial performance dovetailed with its decision not to follow through on a plan to raise as much as $1 billion in a private round, Chief Financial Officer Richard Zhang said during an interview with Bloomberg TV.