GOGOX

Steven Lam, Reeve Kwan, and Nick Tang co-founded GoGoVan in 2013 in Hong Kong after Lam had trouble finding a van to help him move apartments. They realized that Hong Kong was full of independent van and truck drivers with empty vehicles and businesses needing to move goods.

The app connected the two. GoGoVan (rebranded to GoGoX) expanded from Hong Kong to Singapore, China (mainland), South Korea, India, and Vietnam.

Commission-based marketplace. GoGoX charges a commission (typically 15-20%) on each delivery booked through the platform.

Revenue comes from logistics services (delivery, moving), enterprise contracts (regular delivery routes for businesses), and value-added services. The company also monetizes through advertising on its platform.

GoGoX Delivery (on-demand van and truck delivery). GoGoX Business (enterprise logistics solutions).

GoGoX Freight (large-scale freight matching). Driver App (for van and truck drivers).

Available across Hong Kong, China, Singapore, South Korea, India, Vietnam.

Multi-market Asian expansion. GoGoX grew by replicating the Hong Kong model across Asian cities where the same problem existed — fragmented logistics with empty trucks.

The company tailored its product for each market: van deliveries in Hong Kong, motorcycle deliveries in Vietnam, large truck logistics in China.

Profitability in a low-margin logistics business. Last-mile delivery is competitive and drivers have low switching costs (they can easily use competing platforms).

GoGoX competes with Lalamove (a direct competitor in Asia), Grab Express, and traditional logistics companies. The company has struggled with profitability since its IPO.

IPO'd on the Hong Kong Stock Exchange in 2022. Previously backed by Alibaba, New World Development, and Cathay Innovation.

The company raised over $250 million across pre-IPO rounds.