Is it Uber? Is it TikTok? No, it’s Lalamove

The Hong Kong-based on-demand delivery unicorn’s asset-light model, à la Uber, and dual versions (Chinese and international) à la ByteDance, have helped it scale globally. But the growing anti-China sentiment worldwide could be its Kryptonite

Even as Covid-19 slows down most businesses, Lalamove has forged ahead with its expansion

Lalamove combines the best of Uber’s and TikTok’s models, allowing it to scale internationally. It’s pushing into India and, soon, the US

This growth doesn’t come easy and cheap. Lalamove faces competition in many of its markets

But the biggest threat yet is the growing anti-China sentiment worldwide after app bans imposed by India and US

A presence in nearly 400 Asian cities.

With 3 million drivers (of which 480,000 are active monthly).

And 28 million users (six million active monthly).

All in seven years.

It’s surprising that on-demand delivery startup Lalamove has stayed away from the limelight so far.

Not only has it raised US$450 million from investors like Hillhouse Capital, Sequoia China, and Shunwei Capital to date, but the US$1 billion startup is one of the few Asian companies that have grown globally. From its base in Hong Kong, and its largest market, mainland China, Lalamove has expanded to Southeast Asia, India, and Latin America since launching in 2013.

AUTHOR

Jum Balea

Jum is a Manila-based reporter for The Ken, where she covers startups and business across Southeast Asia, with a focus on the Philippines. She previously was editor for Tech In Asia, and business editor for Philippine media companies Rappler and ABS-CBN.

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