SoftBank and Google Funds to Invest in Chinese Truck-Hailing Firm

Japan’s SoftBank Group Corp. and Alphabet Inc.’s late-stage venture investment fund are among investors plowing close to $2 billion into a Chinese truck-hailing company, according to people familiar with the investments.

Manbang Group, which runs a mobile app platform that matches truck drivers with shippers looking to transport cargo, is raising more money than it originally set out to fetch, according to these people. The Wall Street Journal previously reported the company was planning to raise between $500 million and $1…

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