Kuaigou’s losses pile up despite growing revenue · TechNode

Kuaigou’s losses pile up despite growing revenue · TechNode
Kuaigou Dache, the logistics platform operated by Chinese classifieds giant 58.com, on April 24 reported a widening loss for 2021 despite record revenues as it struggles to secure a bigger market share. The carrier, which also operates in Hong Kong as GoGoX, posted a RMB 873 million ($133 million) loss in 2021, an increase of 32.7% from the previous year, while revenues grew 24.6% to RMB 661 million, according to an updated IPO prospectus issued by the firm. In contrast, rival Full Truck Alliance made a profit of RMB 450 million last year while revenues jumped 80.4% to RMB 4.7 billion.

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