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’s core product is the Trucker Path app, a trip planning companion for truckers that allows the driver community to update the real-time status of relevant points of interest on a route. The information can assist truckers in finding truck stops, available parking spots, rest areas, scales, open weigh stations, and truck washes.
Trucker Path also launched the Truckloads app which is a mobile freight load–matching marketplace. The company says that Trucker Path has more than 600,000 monthly active users. The acquisition is seen as an avenue for Renren to enter the transportation sector.
"Currently, the two major emerging technology areas are artificial intelligence and blockchain,” said Joseph Chen, chairman and chief executive officer of Renren. “With the acquisition of the Trucker Path social platform and the Truckloads freight marketplace, the Company will be well-positioned technologically to drive innovation within this important industry."