Technology

Bono-backed on-demand trucking company comes to a halt

Convoy, a company in which both Bono and the Edge were early investors, is to close down.

Bono and the Edge were early backers of Convoy

Convoy, an on-demand trucking company backed by Bono and the Edge, is shutting down after failing to find a buyer.

The company, whose other big-name backers include Bill Gates, Marc Benioff, Jeff Bezos and Reid Hoffman, was valued at $3.8 billion in June 2022 after raising an additional $260 million from investors.

Headquartered in Seattle, Convoy is a provider of on-demand shipment services designed to connect trucking companies with freight shippers. The company’s platform uses ...