Archive:Fluid Truck: Difference between revisions
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'''Fluid Truck''' (legally '''Fluid Market, Inc.''') was an American truck-sharing and commercial vehicle rental platform headquartered in [[Denver]], [[Colorado]]. James Eberhard established the company in 2016 and it offered rentable commercial vehicles.<ref name="tc-bankruptcy" /> In October 2024, Fluid Truck filed for [[Chapter 11, Title 11, United States Code|Chapter 11]] bankruptcy protection.<ref name="wsj-bankruptcy" /> Its assets were acquired by Kingbee Rentals in December 2024.<ref name="abf-sale" /> | '''Fluid Truck''' (legally '''Fluid Market, Inc.''') was an American truck-sharing and commercial vehicle rental platform headquartered in [[Denver]], [[Colorado]]. James Eberhard established the company in 2016 and it offered rentable commercial vehicles.<ref name="tc-bankruptcy" /> In October 2024, Fluid Truck filed for [[Chapter 11, Title 11, United States Code|Chapter 11]] bankruptcy protection.<ref name="wsj-bankruptcy" /> Its assets were acquired by Kingbee Rentals in December 2024.<ref name="abf-sale" /> | ||
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Fluid Truck (legally Fluid Market, Inc.) was an American truck-sharing and commercial vehicle rental platform headquartered in Denver, Colorado. James Eberhard established the company in 2016 and it offered rentable commercial vehicles.[1] In October 2024, Fluid Truck filed for Chapter 11 bankruptcy protection.[2] Its assets were acquired by Kingbee Rentals in December 2024.[3]
History
Founding and early growth
Fluid Truck was founded in 2016 by James Eberhard.[4]
Fluid Truck raised venture capital funding from institutional investors, including Bison Capital and Ingka Capital, IKEA's fundraising arm.[5] In 2019, it raised $63 million in a fundraising event.[6]
Bankruptcy and acquisition
Fluid Truck had expanded into at least thirty U.S. states by 2024. However, the company reported financial losses and faced operational challenges.[2] In October 2024, Fluid Truck filed for Chapter 11 bankruptcy protection in the United States District Court for the District of Delaware.[2]
In December 2024, Fluid Truck's assets were acquired by Kingbee Rentals after a court–approved transaction.[3][7][8][9]
See also
References
- ↑ Bellan, Rebecca (2024-10-18). "Fluid Truck files for Chapter 11 bankruptcy and pursues sale after leadership shakeup". TechCrunch. https://techcrunch.com/2024/10/18/fluid-truck-files-for-chapter-11-bankruptcy-and-pursues-sale-after-leadership-shakeup/.
- ↑ 2.0 2.1 2.2 Yerak, Becky (2024-10-17). "'Uber of Truck Rentals' Files for Bankruptcy". The Wall Street Journal. https://www.wsj.com/articles/uber-of-truck-rentals-files-for-bankruptcy-a6b44afb.
- ↑ 3.0 3.1 Wilson, Brianna (2025-01-10). "SSG Advises Fluid Truck in the Sale of Substantially All Assets to Kingbee Rentals". ABF Journal. https://www.abfjournal.com/ssg-advises-fluid-truck-in-the-sale-of-substantially-all-assets-to-kingbee-rentals/.
- ↑ Wingerter, Justin (December 3, 2024). "Bankrupt Fluid Truck leaves Denver offices, reveals $35 million in debt". The Denver Post. https://www.denverpost.com/2024/12/03/fluid-truck-leaves-denver-offices-bankruptcy/.
- ↑ Bellan, Rebecca (2021-03-02). "Fluid Truck, the Zipcar of commercial trucks, raises $63M to take on rental giants". TechCrunch. https://techcrunch.com/2021/03/02/fluid-truck-the-zipcar-of-commercial-trucks-raises-63m-to-take-on-rental-giants/.
- ↑ LeBeau, Phil (March 2, 201). "Truck sharing start-up Fluid Truck raises capital in bid to disrupt rental industry". CNBC. https://www.cnbc.com/2021/03/02/truck-sharing-start-up-fluid-truck-raises-capital-in-bid-to-disrupt-rental-industry-.html.
- ↑ "Fluid Market, Inc. Overview Case: 24-12363". 2024-10-16. https://dm.epiq11.com/case/fluidtruck/info.
- ↑ Wingerter, Justin (2024-12-18). "Fluid Truck, which raised $80M from investors, is sold for $10M" (in en-US). https://www.denverpost.com/2024/12/18/fluid-truck-money-investors-sold/.
- ↑ Bean, Dave (2024-12-24). "Kingbee Vans Acquires Fluid Truck Improving Availability of Rentals for Fleets" (in en-US). https://www.fleetmanagementweekly.com/kingbee-vans-acquires-fluid-truck-improving-availability-of-rentals-for-fleets/.