Fluid Truck, which raised $80M from investors, is sold for $10M

Fluid Truck, which raised $80M from investors, is sold for $10M

Fluid Truck, whose vehicle rental app made it a darling among Denver startups before post-pandemic overexpansion put it on a path to insolvency, will be sold. This week’s sale to Kingbee Rentals, a similar company in the Salt Lake City suburbs, allows Kingbee to acquire Fluid’s technology and its 100-plus employees. Kingbee is spending about $10 million on the acquisition and was the only bidder. Its closing date is Friday. “Fluid Truck is excit…

Fluid Truck, which raised $80M from investors, is sold for $10M - BusinessDen

A customer rents a van from Fluid Truck. (Courtesy Fluid Truck) Fluid Truck, whose vehicle rental app made it a darling among Denver startups before postpandemic overexpansion put it on a path to insolvency, will be sold. This week’s sale to Kingbee Rentals, a similar company in the Salt Lake City suburbs, allows Kingbee to acquire Fluid’s technology and its 100-plus employees. Kingbee is spending about $10 million on the acquisition and was the…