Bill Gates and Jeff Bezos invest in Uber-competitor Convoy
Convoy makes software that matches nearby and available truckers to a shipping job, and its latest financing totals $62m
Seattle — As Bill Gates and Jeff Bezos jockey for the designation of world’s wealthiest man, the Seattle billionaires are united behind at least one local venture. They are both investors in a trucking logistics start-up that competes with Uber. Convoy, a two-year-old Seattle company, makes software that matches nearby and available truckers to a shipping job. Convoy said on Tuesday that it raised a new round of funding from Bill Gates’s Cascade Investment and other backers. Gates joins Amazon.com’s Bezos, who invested earlier. The latest financing totals $62m. The investment will not break the bank for Gates or Bezos, whose fortunes are within $3bn of each other, according to the Bloomberg Billionaires Index. But Convoy has become a hot start-up investment among fellow billionaires. Salesforce.com CEO Marc Benioff and KKR co-CEO Henry Kravis are also shareholders. IAC/InterActiveCorp chairperson Barry Diller participated in the new round with Gates. Convoy was initially pitched as ...
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