Vietjet acquires 67 pct in express delivery startup
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Budget airline Vietjet has invested VND31.5 billion ($1.36 million) to acquire a 67 percent stake in shipping startup Swift247 which seeks to improve the linkage between air and road delivery.
The company, co-founded by Tommy Nguyen, son of Vietjet CEO Nguyen Thi Phuong Thao, has a charter capital of VND47 billion. Its CEO, Ha Nang Viet, owns 26 percent of the company.
The Ho Chi Minh City-based company, founded in 2019, delivers products between Southeast Asian destinations within 24 hours by combining air and road transport. Other delivery services take days.
It offers a delivery time of as low as five hours between Hanoi and HCMC.
The company also has a tie-up with ride-hailing company Grab.
Questions & Answers
Q.What is the primary goal of the collaboration between Vietjet and Swift247?
What is the primary goal of the collaboration between Vietjet and Swift247?
The partnership aims to enhance the connection between air and road delivery services. Swift247 specialises in combining these transport methods to deliver products within Southeast Asia, offering significantly faster times than traditional services.
Q.Who are the key figures behind Swift247, and what are their ownership stakes?
Who are the key figures behind Swift247, and what are their ownership stakes?
Tommy Nguyen, son of Vietjet's CEO, co-founded the company. Its CEO, Ha Nang Viet, holds a 26 percent stake. Vietjet has acquired a 67 percent stake in the startup.
Q.How quickly can Swift247 deliver goods, and what is its operational focus?
How quickly can Swift247 deliver goods, and what is its operational focus?
Swift247 delivers products between Southeast Asian destinations within 24 hours, or as quickly as five hours between Hanoi and Ho Chi Minh City. It achieves this by integrating air and road transport, and also partners with Grab.
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