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Renren Inc (NYSE:RENN) Sets Out To Acquire Trucker Path Inc Fully

Renren Inc (NYSE:RENN) has today moved ahead to make the announcement regarding its entry into a definitive agreement that will see it acquire Trucker Path Inc fully. The Trucker Path app happens to be the Trucker Path’s main product and it is all about simplifying matters for a monumental driver community .It made it possible for all of them to assist one another especially when it got to that point of updating the real-time status of relevant points-of-interest on any part of their way.

From one point to the next a given driver might need to stop over to locate truck stops, rest areas, available parking spots, open DOT weigh stations, scales, truck washes and more. Trucker Path has in several instances made efforts targeted at building on the success f the Trucker Path app.

The other thing was the unveiling of the Truckloads app which happens to be a mobile marketplace with the capacity to deliver the freight load that matches with around 3 million loads which are usually posted on a monthly basis. At this moment, Trucker Path has succeeded to bring onboard almost 600,000 monthly active users and that is representative of about 33% of all U.S. long haul truck drivers.

By acquiring Trucker Path, Renren will be making a major headway to achieve immense success upon entry into the transportation sector. From now henceforth, Renren will commit itself to the exploration of breakthroughs in this arena.

That is regardless of whether it will be in the area of autonomous vehicles or intelligent transportation. The company just like the rest of the business giants around the globe is looking forward to leveraging on the various technological advancements that might give it an edge over rivals.

Chairman and Chief Executive Officer of Renren Joseph Chen opined, “Currently, the two major emerging technology areas are artificial intelligence and blockchain. With the acquisition of the Trucker Path social platform and the Truckloads freight marketplace, the Company will be well-positioned technologically.”

Whatever happens in time to come is something that we will just have to wait and see.

About the author

Daryl Brant

Brant is Investing News Center's writer focused on technology companies.

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