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GoGoVan: Making Moving Goods Convenient and Efficient began in July 2013 when leven Lam Hyuent, cofounder and Cheet Esecutive officially launched a mobile application platform for transporting goods in Hong Kong The application connects customers and drivers to factate on-demand, same day deliveries around the city Whenever individual or business customers need to move furniture, supplies, goods, or even pets in Hong Kong, GoCoVan offers access to more than 30,000 drivers who operate a wide range of vehicles, such as vans and trucks, that can suit customer needs. The company aims to redefine the everyday logistics experience by providing convenient and efficient service at the customer's fingertips and to become the number one intra-city logistics platform in the world.

What GoGoVan offers is not a radical new solution. It applies technology to improve a fragmented and inefficient logistics ecosystem, Building on a central data platform with information on more than 150,000 drivers globally, GoGoVan redefines the implementation of logistical information around the city it serves by matching the right fleet with the customer instantly, thus improving the last-mile efficiency. Using the mobile application, customers no longer need to contact call centers. Individual or business customers can save on transportation costs and improve distribution efficiency, without owning in-house fleets. Furniture and homeware chain PriceRite, though it had its own fleet of vans, commissioned GoGoVan for same-day deliveries in Hong Kong. Business customers may choose to pay monthly, as all records are shown on a dashboard, which provides flexibility for businesses, which in turn helps them better manage their cash flow. Some business customers may benefit from elimination of distribution centres or warehouses as well, reducing their operating costs. For drivers, they had to pay call centres monthly to get jobs. Now, the mobile application of GoGoVan allows them to tap into a citywide customer pool that was previously out of t their reach, thus increasing utilisation of their transportation fleets. As a result, many drivers have seen their income increased by 20 or 30% after switching to work that uses the mobile application.their neach, thus ceased by 20 or 30% after seen their income utilisation of the transportation heets. As a resum divers have

switching to work that uses the mothe oppletion To enhance its competitive edge, GoGeven is committed to providing quality services and is determined to get the best drivers. GoOeVan created the mobile application on town and Therefore can make any necessary enhancements guacky while call centres source the application design to a third party. As a part of its service quality control, GooVan has a detailed screening for each potential driver. Applicants must show they are qualified They are also required to send photos of their vans for GoGovan to assess whether they are in suitable condition and maintained in an excellent state-odorless, spotless, and comfortable GoGovian's eam spende time on the road with the drivers to determine whether they are safe and relatie A service guideline is provided for drivers as well Upon every cancellation of an order to van divers and for each customer complaint, GoGoVan carefully looks into each case so as to ensure continuous improvement

GoGoVan aims to make the ordering process as simple and seamless as possible. In Hong Kong. for example, after simple registration, new users can start to book the delivery service online, using a mobile application, or by dialing "1234, and indicate their pick up point and destination, and the vehicle type (e.g, van, 5.5-ton truck, or 9-ton truck) that suits their needs. If customers would like. to use a 16-ton truck or other vehicle type, they can call the GoGoVan hotline. They are required to login to their account and choose the number of passengers, choice of tunnel (toll rates vary), and pick-up time. A quote will be generated in seconds, pending order confirmation from the customers Customers can also choose to pay extra for some value-added services such as forklift rental, mover request, overtime waiting, midnight service, transporting pets, etc. After an order is placed, the Godevan system unes Global Positioning System (GPS) technology to locate and send a notification to all drivers s tve kdometres of the customer's pick up poe and the first driver to respond will get the job order. If there is no response within 10 seconds another alert will be dispatched in a wider range Normalty, oustomers can arrange a 15 seconds in case drivers are not available during peak hours, customers may coin 10 W sorte "bonuses when ordering in order to make it more attractive to drivers and increase the consider adding chance of them accepting the order. Once a driver responds to the order request, customers will see the driver's information and real-time location on their device. They just need to wait for the driver's call to confirm the exact pickup point and destination and have the driver provide delivery to wat be and moving services Upon completion of the order, customers pay the driver and can rate the driver from one to five stars. For every completed delivery order, GoGoVan charges approximately 10% commission

As with many other startups, GoGovan was initially funded by the savings of its cotounders, who pooled their money and collectively gathered USD 2.564 (or HKD 20,000) as their startup capital, Just before their funding ran out, the company received USD 12.821 (or HKD 100,000) in seed capital from the Cyberport Creative Micro Fund provided by the Hong Kong government to continue their entrepreneurial journey. GoGoVan later joined the Hong Kong government-supported Cyberport Incubation Programme to further develop its business. Since then, it has pursued several other funding sources. In 2014 and 2015, the company raised a sum of USD 26.54 million In May 2016, it received an undisclosed sum of funding led by Hong Kong private equity firm New Horizon Capital. In July 2018, the company further secured the large sum of USD 250 million, led by InnoVision Capital, a San Francisco-based venture capital firm. Additional funding was realized from several other investors, including the Alibaba logistics arm Cainiao, a Russia-China Investment Fund, Hongrun Capital Qianhai Fund of Funds, and 58 Daojia Group. n August 2017, the company merged with 58 Suyun, one of the largest intra-city logistics platforms. in China. This merger presents a complementary advantage to both companies. After the merger the combined company continues to be branded as 58 Suyun in China and GoGovan outside of China, making it one of the leading online logistica platforms in in Asia. The m merger also marked a key milestone for GoGoVan, as it has become the first Hong Kongese technology unicom-that is, a startup company that reaches USD 1 billion or more in valuation.

Questions

Please ensure that you answer the following questions in complete sentences, using

appropriate sentence structure and grammar. Refer to content in the textbook,

modules and class discussions to support your answers. Your answers should

be 100-125 words per question. 1. Describe knowledge management. What struggles might GoGoVan have with the knowledge management process? 2. What is one of the key elements of new venture success (as described in Module 10 of this course)? Has this proven to be important for GoGoVan? Why or Why not? 3. What are innovation networks? What are some challenges firms may fact with innovation networks? How has GoGoVan taken advantage of innovation networks? 4. Consider the Business Model Canvas. What is the primary value proposition of GoGoVan? What are two other components of a business model, how do they manifest for GoGoVan?

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