At present, Trucker Path has more than 600,000 monthly active users covering more than 33% of all U.S. long haul truck drivers and maintains steady organic growth. Renren, which operates a social networking service and internet finance business in China, has entered into an agreement to buy the trucking industry social platform Trucker Path. Renren led Trucker Path’s first seed round of funding in 2014 with a $1.5 million investment and then participated in a $20 million Series A round in 2015. 2. In October, Trucker Path announced it has topped two million installations of the app. Dec 29 (Reuters) - Renren Inc: * RENREN ANNOUNCES ACQUISITION OF U.S. Renren's Share Price Leaps 20% After Trucker Path Takeover (Yicai Global) Jan. 3 -- Chinese social networking company Renren Inc. [NYSE:RENN] saw its stock price skyrocket more than 20 percent yesterday, shortly after it unveiled plans to take over a US haulage application. Having 35% of the U.S. Class 8 (big rigs) truckers and growing, Trucker Path is innovating the legacy 700B+ Trucking Industry, aiming to eliminate inefficiencies in … Receive a push notification with the latest “Follow Function” for weigh stations of your choice. Acquiring Organization: Renren Renren.com is an online social network service that offers an extensive interactive communication platform for Chinese users. Create New Account. Renren is a social networking service and internet finance company with operations in both China and the United States. Add the firm’s existing equity of 29% (for which they paid $11.5M) and the fair value was $10.3M. The company paid $7.6 million at the time of the acquisition. Save time and miles! Trucker Path’s core product is the Trucker Path app, a trip planning companion for truck drivers, enabling a large driver community to assist each other in updating the real-time status of … On Friday before the New Year’s Holiday, while most drivers and executives were thinking about the long weekend, Trucker Path, an app that is ubiquitous in the driver community, announced that the company had been purchased by Chinese social media site Renren. The Trucker Path investment got a lot of attention because it validated the desire for venture investors to get a piece of the $700B industry. Renren operates a social networking service and an web-based finance business in China. It was followed by large investments in Cargo Chief, Convoy, and Transfix – all of which were digital brokers. January 02, 2018 - At Tuesday’s closing bell, Renren’s stock surged 19.63%, ending the trading session at $12.43. Facebook. or. Trucker Path Join the largest trucker community and find vital services over the road; Trucking Trip Planner All-in-one tool optimized for truckers to plan trips. Default path is C:\Program Files (x86)\Steam\steamapps\common\Euro Truck Simulator 2 You, my dude, is a ♥♥♥♥♥♥♥ hero. Learn from leaders in the CPG, Automotive, Food, Aerospace, Energy, & more. Getting freight from shippers to post on a load board can be difficult, but Trucker Path believed it had an advantage. Win Daily Prizes & One Grand Prize! Stock Performance Snapshot January 02, 2018 - At Tuesday's closing bell, Renren's stock surged 19.63%, ending the trading session at $12.43. Trucker Path provides crowd-sourced information on truck parking availability in the U.S. and Canada, as well as load-matching services. Please enable cookies on your browser and try again. Sections of this page. For Renren's global business, the acquisition of Trucker Path means an entry into the transportation sector. See more of Truck'n World on Facebook. Was Trucker Path out of cash when Renren bought it? Meet Renren CEO Joseph Chen, who drove truck for a time as a young man and says the Trucker Path acquisition is intended to take the app and its affiliated services “to … Helping truckers find what they need and navigating them to where they need to go is what we do best at Trucker Path, ... Renren Inc. Sep 2002 - Present 18 years 6 months. Chicago-based Wicklow Capital led the funding round with Renren also contributing. Please enable JavaScript on your browser and try again. Being a brokerage requires a lot of manual labor and Trucker Path wanted to build itself as a transactional marketplace. Fast forward months later, the details of the Trucker Path transaction are now public record. Trucker Path’s core app uses crowdsourced data to help truck drivers find truck stops, available parking spots and quickly identifies open weigh stations. The service requires full cookie support in order to view this website. Mobile application firm Trucker Path, owned by Renren Inc., said it is launching a low-cost electronic logging device (ELD) package that pairs a free device with an $8.30 per month subscription fee. More impressive was the company’s ability to get drivers to engage in a social network that was industry specific. Trucker Path. Trucker Path Join the largest trucker community and find vital services over the road; Trucking Trip Planner All-in-one tool optimized for truckers to plan trips. To achieve that goal, the company started with a load board app for owner operators known as “Truckloads” with plans to turn it into a marketplace. The success of building any two-sided marketplace involves getting density of buyers and sellers. Trucker Path reports it currently has over 600,000 monthly active users covering more than 33 percent of US long haul truck drivers. Forgot account? Serving the global freight industry with the fastest and most comprehensive news insights and market data on the planet. Trucker Path Most popular trucker app. Trucker Path accomplished something that few others had figured out – how to get truck drivers to use a mobile app on a daily basis. 3. Each invested $10 million which led the CEO to state the value of the company at more than $100M. Our Story. Email or Phone: Password: Forgot account? Trucker Path is a software platform for the trucking industry, providing navigational assistance and truckload sourcing. It may not be a household name in the U.S., but the global tech community is familiar with it and it is one of the largest social media providers in China. The round involved a follow-on partner, Chinese social media giant Renren. Sign Up. The primary use of the app in 2015 was a real-time parking directory and roadside amenities app. Back in 2015, the company was pre-revenue and was banking on building a significant user base of drivers. 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. Save time and miles! Parking & Weigh Station Prediction Predict parking lot availabilities and weigh station status using our crowdsourced data Trucker Path is the provider of a social platform for the trucking industry in the United States, which we acquired in December 2017. Renren Announces the Appointment of Chief Business Officer of Trucker Path Inc. Trucker Path had successfully built a network of carriers, so it needed freight. or. The company then went on, three months later, to raise an eye-popping amount of money for a pre-revenue trucking startup. The service requires full JavaScript support in order to view this website. Powered by Trucker Path AI Team, the parking and weigh station hourly prediction are now available. Best of all, we’re FREE to download! Background: Trucker Path, Inc., is a leading software platform for the trucking industry. Log In. At the time of the investment, Trucker Path’s CEO Ivan Tsybaev stated that the investment from Renren allows it to invest in a community where it could lend its experience in building social communities and help Trucker Path thrive. Trucker Path has been acquired by Renren December 1, 2017 / in casestudy , General / by roaradmin Background: Trucker Path, Inc., is a leading software platform for the trucking industry. Join the largest community in America for truckers and keeptruckin with Trucker Path … Trucker Path. They are devoted to driving innovation and accelerating the development of the trucking and transportation industry … At present, Trucker Path has more than 600,000 monthly active users covering more than 33% of all U.S. long haul truck drivers and maintains steady organic growth. Truck Path is based in Austin, Texas. Trucker Path claims it has nearly 300,000 active users already, which would give it 20% of all class 8 truckers in the U.S. and is claiming 20% growth per month over the past six months. According to reviews in both the Google and Apple app stores, the Trucker Path app is loved by drivers. Parking & Weigh Station Prediction Predict parking lot availabilities and weigh station status using our crowdsourced data You will be redirected once the validation is complete. In June 2015, Trucker Path raised $20 million in a Series A round from Chicago-based Wicklow Capital. Jump to. They are devoted to driving innovation and accelerating the development of the trucking and transportation industry through cutting-edge technology. Renren is a publicly-traded company and required to file an annual report with the SEC. Trucker Path | 3,773 followers on LinkedIn. © Copyright 2021, All Rights Reserved, FreightWaves, Inc, Renren finds opportunity with Trucker Path acquisition, Podcasts: FreightWaves FreightCasts Network, The Forum at FreightWaves LIVE (Fall 2019), Dana builds electrification vertical for commercial vehicles, Election 2020: Truckers largely plan to vote in person on Nov. 3, Seeking more sustainable business model, Trucker Path monetizes community, adds predictive analytics, Transplace acquires consulting firm LeanCor Supply Chain Group, Lineage Logistics expands network with multiple cold storage deals. Renren operates a social networking service and internet finance business in China. Now the company is primarily owned by U.S. citizens and the Japanese Softbank. | Trucker Path is America's fastest growing platform for the trucking industry, providing navigational assistance and truckload sourcing. Trucker Path is the provider of a social platform for the trucking industry in the United States, which we acquired in December 2017. 1. Stock Performance Snapshot. Truck Path is based in Austin, Texas. PHOENIX, May 13, 2019 -- Trucker Path Inc., a subsidiary of Renren Inc. (NYSE: RENN) ("Renren"), which operates a leading premium used auto business in China (NASDAQ: KXIN) and. More than 2 million truckers use our solution to find truck parking. The driver parking-app-turned-load board saw early success and boasts 600,000 active users, 35% of which are long-haul truck drivers, at the time of the Renren investment. In the 2017 annual report, Renren outlines the Trucker Path transaction details. Trucker Path Raises $1.5M From Renren To Help Truckers Truck Better. Our users say Trucker Path is better for truckers compared to Garmin GPS, Randy McNally GPS, DAT, or Trucker Tools. Trucker Path’s core app uses crowdsourced data to help truck drivers find truck stops, available parking spots and quickly identifies open weigh stations. It has also been active in funding startups, for example SoFi and LendingHome. We have America’s best trucking app. Stay up-to-date with the latest commentary and insights on FreightTech and the impact to the markets by subscribing. www.fleetowner.com is using a security service for protection against online attacks. You would be able to add multiple stops to your trip with our latest Trip Planner function which is … Whether it’s truck stops, available parking, fuel prices or weigh station status, our app drives the trucking community with update information. Press alt + / to open this menu. Trucker Path is a mobile application that allows truckers to locate nearby stops, inns and travel centers, gas and weigh stations, parking, rest areas, and more. Renren started as a popular social network in China and after going public on NYSE in 2011 became a global business. Renren led Trucker Path’s first seed round of funding in 2014 with a $1.5 million investment and then participated in a $20 million Series A round in 2015. See more of Truck'n World on Facebook. Jan 12, 2018 - Meet Renren CEO Joseph Chen, who drove truck for a time as a young man and says the Trucker Path acquisition is intended to take the app and its affiliated In the 2017 annual report, Renren outlines the Trucker Path transaction details. Renren, which operates a social networking service and internet finance business in China, has entered into an agreement to buy the trucking industry social platform Trucker Path. Trucker Path Inc. a fast-growing technology company with offices in the U.S., China, and the Philippines. It is rated a 4.7 in the Google Play Store and has 5 stars on 14,000+ reviews in the Apple App Store. Chinese social networking platform company Renren has appointed Chris Oliver as chief business officer of Trucker Path. www.fleetowner.com is using a security service for protection against online attacks. America's largest and most used platform for the trucking industry. Log In. The company paid $7.6 million at the time of the acquisition. A Chinese firm has purchased a popular mobile app that crowdsources trip planning information for truckers and is a load board for freight. "Hundreds of thousands of truckers already use our app to find truck stops, truck parking, weigh stations, fuel, rest areas, truck washes and more," noted Sam Bokher, … With over 400,000 drivers in its portfolio at the time, it says that most brokers have since turned to it to leverage its vast network of capacity. I have been searching for that ♥♥♥♥♥♥♥♥ "Valid path" for over an hour now Renren, a Chinese enterprise focused on social connectivity and communication, has agreed to back Trucker Path – to the tune of $1.5 million. All your trucker tools (trucker map) in one free app. But Trucker Path did not become a digital broker, instead choosing a different path. 950,000+ truckers rely on Trucker Path to find vital information while on the road. Its CEO, Joseph Chen, drove a truck for his family business along the U.S. East Coast for three years when he was younger, so he knows well the challenges truckers and the industry are facing. Trucker Path is a mobile app that helps truckers find truck stops, parking spots, rest areas, scales, DOT weigh stations, truck washes and more. In July 2015, Trucker Path released Truckloads, a B2B marketplace specializing in connecting transportation brokers to carriers. Trucker Path Trucker Path provides a software platform designed for the trucking industry. This is not the only business Renren operates in the U.S. Its portfolio of companies includes Chime CRM, Geographic Farm and Sindeo – all serving the real estate industry. Renren Inc. (NYSE: RENN) today announced that it has entered into a definitive agreement to acquire 100% of Trucker Path Inc. ("Trucker Path"), a provider of a … BEIJING, Dec. 29, 2017 /PRNewswire/ -- Renren Inc. (NYSE: RENN) ("Renren" or the "Company"), which operates a social networking service and internet finance business in China, today announced that it has entered into a definitive agreement to acquire 100% of Trucker Path Inc. ("Trucker Path"), a provider of a social platform for the trucking industry in the United States. Accessibility Help. This process is automatic. www.fleetowner.com is using a security service for protection against online attacks.

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