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’re both investors in a trucking logistics startup that competes with Uber Technologies Inc.
Convoy Inc., a two-year-old Seattle company, makes software that matches nearby and available truckers to a shipping job. Convoy said Tuesday it raised a new round of funding from Bill Gates’s Cascade Investment and other backers. Gates joins Amazon.com Inc.’s Bezos, who invested earlier. The latest financing totals $62 million.
The investment won’t break the bank for Gates or Bezos, whose fortunes are within $3 billion of each other, according to the Bloomberg Billionaires Index. But Convoy has become a hot startup investment among fellow billionaires. Salesforce.com Inc. Chief Executive Officer Marc Benioff and KKR & Co. co-CEO Henry Kravis are also shareholders. IAC/InterActiveCorp. Chairman Barry Diller participated in the new round with Gates. Read more...
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