Truck Alliance turns into a unicorn

Truck Alliance is a Ubertype Chinese company for heavy vehicles and a global "unicorn".

Guiyang Huochebang Technology Co Ltd, or Truck Alliance for short, is one of 55 startups in China worth more than $1 billion, consultancy CB Insights reported.

"Huochebang impressed us a lot with its business model, scale of platform and operation," said Wu Wenjie, a managing partner at Baidu Capital, which is part of online giant Baidu Inc.