Lalamove – Startup Story | Founder| CEO | Funding | History | Competitors

Introduction:

Shing Chow came up with Lalamove, which was launched in 2013. The necessity to meet a specific logistical demand, namely van hiring, served as the impetus for the creation of Lalamove. It was given the name “Easyvan” at first, and in 2014 it was given the name “Lalamove.” Chinese term “lala” means “to deliver.” Lalamove once staked its reputation on the slogan “Everyone’s private driver.” As quickly as possible, they modified it to “Where lifestyle meets logistics” in order to promote their brand internationally. These adjustments were designed to make the direction they were taking more widely known. Lalamove is well-known for becoming the first unicorn to emerge from Hong Kong.

About Lalamove:

Using its smartphone and online apps, Lalamove, a technology business with headquarters in Asia, connects customers with delivery drivers to offer delivery services. In cities around Asia and Latin America, the firm connects more than 7 million consumers with more than 700,000 delivery drivers. Hong Kong, Taipei, Singapore, Kuala Lumpur, Manila, Cebu, Bangkok, Pattaya, Ho Chi Minh City, Hanoi, Jakarta, Dhaka, So Paulo, Rio de Janeiro, and Mexico City presently provide Lalamove services. In 2018, Lalamove increased the scope of their services in India; however, in 2020, as a result of a string of Chinese app bans in India, Lalamove was prohibited by the Indian government.

Hong Kong, Taipei, Singapore, Kuala Lumpur, Manila, Cebu, Bangkok, Pattaya, Ho Chi Minh City, Hanoi, Jakarta, Dhaka, So Paulo, Rio de Janeiro, and Mexico City presently provide Lalamove services.

Lalamove Founder & Team:

Joel Chan is the creator of Lalamove. Chow Shing-yuk is the CEO. Shing Chow is the company’s founder and CEO. The creator and CEO of Lalamove received an honours degree from Stanford University’s Department of Economics and began his career there before moving on to other renowned management consultancies. Its headquarters are in Kowloon, Hong Kong. Initially established as EasyVan in 2013. Lalamove employs 2811 people.

Lalamove History:

Shing Chow Shing-yuk established the business in Hong Kong in December 2013. 2014 saw the firm change its name from Easyvan to Lalamove. In 2014, the firm entered Singapore; in 2015, it entered Bangkok and Taipei. The company swiftly expanded into additional markets. Lalamove began operating in India in 2018 and was present in 11 locations in Southeast Asia.

Lalamove started operating in Latin America in 2019, marking the company’s first expansion outside of Asia. Currently, they may be found in Mexico City, Rio de Janeiro, and So Paulo. Lalamove received $300 million in investment from a series D round in 2019. Lalamove made its first strategic investment in Inteluck, a logistics firm, in a pre-series B capital round in March 2020.

Lalamove started its Deliver Care CSR campaign in 2020 to offer free delivery to NGOs during the COVID-19 pandemic. Over 200,000 vital supplies, including face masks, hand sanitizer, personal protective equipment, and hot meals, were sent to frontline medical facilities and impoverished families thanks to the CSR project. Over 86,000 beneficiaries were served in total. In order to assist jeepney drivers who were unable to find employment as a result of the community quarantine, Lalamove also collaborated with the local government of Quezon City to introduce the LalaJeep, a new delivery option on the Lalamove app.

Lalamove was among 45 Chinese applications that were prohibited from running in India by the Indian government on November 24, 2020, claiming security reasons. Lalamove, as well as the cargo delivery divisions of DiDi and 58.com, were reportedly summoned by Shanghai’s local transportation authorities in January 2022 as a result of an increase in the number of cases involving drivers providing illegitimate freight services that were noted to originate from the platforms. Lalamove was given the mandate to stop what the authorities referred to as “harm that results from chaotic expansion” in its activities. Lalamove was one of eight businesses that the Chinese Ministry of Transportation called that month to discuss confusing pricing structures, increased membership fees, unfair competition, and unlawful transportation.

Lalamove Name & Logo:

Lalamove Highlight:

Lalamove Revenue:

With the B2B boom, logistics is regarded as the hot industry for both start-ups and investors. Between FY19 and FY25, the Indian logistics industry is anticipated to expand at a CAGR of 10.5%. By 2022, it is expected that this industry will have more than 22 million employees, making it one of the top employers. This area is home to several unicorns. The last-mile delivery is this industry’s largest and most expensive hurdle. The organisation has a lot of chances to investigate in order to guarantee dependable and prompt delivery given the current trend of businesses shifting online. As a result, logistics is now a crucial link in the value chain.

• The current expected yearly income for Lalamove is $152.4M.
• The expected revenue per employee at Lalamove is $54,214.
• The overall funding for Lalamove is $2.5B.
• The current market value of Lalamove is $10B.

Lalamove Funding & Investors:

• Over the course of 10 rounds, Lalamove has secured $2.28 billion in investment. On December 16, 2021, they concluded a Series F investment round for Undisclosed.
• There are 18 investors in Lalamove, including Boyu Capital and Tiger Fund.

Lalamove Business Model:

Delivery drivers and customers may connect with each other using Lalamove’s online and mobile applications. Applications are readily available on the Play Store and iOS shops, and they are free to download. There is a specific and independent Lalamove driver app for delivery drivers. Customers may select their own drivers, courier services, and even delivery vehicles. On the other hand, delivery trucks could differ from city to city. Additionally, Lalamove provides API integration for company platforms who want to incorporate the delivery booking functionality into their systems in order to offer smooth services for large client orders. For navigation and tracking, the software makes use of Google Maps.

Lalamove’s business strategy is to assist both customers and drivers in growing their respective bottom lines. Lalamove has a fee- and commission-based business strategy. For large businesses and corporate houses, i.e., the B2B segment, their main target market, it permits delivery of various shapes and sizes. Businesses who outsource their deliveries to Lalamove come from sectors including construction, retail, e-commerce, manufacturing, food and beverage, and trade & distribution.

To avoid having to make many arrangements for each delivery, Lalamove enables both SMEs and individual users to push their items over with either single or multiple drop-offs. They also emphasise the B2C market. The consumers must input the pickup and dropoff locations into the app and then choose the delivery vehicle type they like. The Lalamove driver app, a separate app for drivers who want to deliver, is then used by nearby vehicles to view lists of requests.

Services Offered thru Lalamove:

They provide practically everything you require! Whether it’s little papers, food and drink, flowers, birthday surprises, holiday presents, internet shopping hauls, gadgets, home furnishings, or appliances. They obviously don’t like to play about with the Law, though!

Lalamove Awards & Recognition:

There is no data of it.

Lalamove Competitors:

Top 10 Alternatives to Lalamove

• project44.
• Tookan.
• Onfleet.
• Shipsy.
• Workwave Route Manager.
• MobiWork.
• FarEye.
• Scurri.

Latest News About Lalamove :

• 2022-04-20 – Lalamove expands into Malacca for the third time. Lalamove’s selection of delivery trucks and pricing in Malacca are comparable to those in Klang Valley.
• Lalamove and PayMaya team up for a new top-up in 2022-04-20. Lalamove, a leading on-demand delivery platform, has teamed up with PayMaya to provide consumers a new way to top off their Lalamove wallets.
• Chinese logistics company Lalamove is looking for new funding as of 2022-03-22. Chow Shing-yuk, a 2013 Stanford grad and ex-professional poker player, founded Lalamove, a van-hailing and delivery business.
• Lalamove, a Hong Kong company, submits a US$1 billion IPO application on June 24, 2021. Lalamove, a logistics firm based in Hong Kong, has registered in secret for a US initial public offering that could earn nearly $1 billion, according to two individuals familiar with the idea. Lalamove is the latest company from greater China to apply for funding in the largest capital market in the world.

Lalamove Future Plans:

So why is Lalamove so popular right now? The increased demand for Lalamove’s bigger vehicle class shows a growing understanding of the need of on-demand deliveries of big and bulky commodities in the wake of the epidemic. The epidemic has accelerated the acceptance of on-demand delivery in the general public and corporate world.

Some FAQs About Lalamove :

What is mission in Lalamove?

Our goal is to strengthen local communities by providing quick and easy delivery. Making Lalamove synonymous with local delivery is our goal.

How did Lalamove become successful?

Lalamove has modernised the process of hiring vans so that both clients and drivers may find a match in less than 30 seconds. Door-to-door local deliveries are completed in a blistering 55 minutes.

What is the marketing strategy of Lalamove?

Lalamove’s innovative omnichannel promotion approach benefits its main communities. Through multichannel marketing, on-demand delivery platform Lalamove has always gone above and beyond to engage and generate excitement with its main communities, the consumer, SMEs, and driver partners.

Is Lalamove profitable?

You are eligible for rewards and bonuses if you become a Lalamove delivery partner. You may get passive money in addition to profitable cash from delivery employment.

Is Lalamove a unicorn company?

Lalamove, a startup in on-demand logistics, raises $300 million for Asian expansion and becomes a unicorn. On-demand logistics firm Lalamove, located in Hong Kong, has secured a $300 million Series D financing as it looks to grow throughout Asia. By achieving this, the business has gained formal membership in the unicorn club.

Conclusion:

Today, Lalamove is utilised by more than 1 million clients and hundreds of thousands of professional truck, van, motorbike, and lorry drivers in the region to help their businesses expand. With innovations like quick order matching, GPS vehicle tracking, round-the-clock services, and driver ratings, we transform the local logistics industry. By assisting drivers in maximizing their productivity, Lalamove’s service not only meets the commercial demands of its clients but also contributes to the greening of our cities by reducing the number of cars on the road. We at Lalamove invite everyone who shares our intense enthusiasm, tenacity, humility, and execution attitude to join us in moving the communities ahead.