Moatable

About Moatable

Moatable, Inc. (OTC: MTBLY), formerly known as Renren Inc., is a publicly traded holding company that incubates, acquires, and builds category-leading software-as-a-service (SaaS) businesses in vertical industries. The company's strategic shift from a B2C internet focus to a B2B SaaS model was formalized with its rebranding in June 2023, reflecting a significant transformation over the preceding decade.

The company's origins trace back to China's early social networking scene. Joseph Chen, the current Chairman and CEO, co-founded Chinaren.com in 1999, one of China's first college-focused online communities. After selling Chinaren, Chen founded the predecessor to Moatable in 2002. This entity, Oak Pacific Interactive, acquired Xiaonei.com in 2006, a popular Facebook-like platform founded by Wang Xing, Wang Huiwen, and Lai Binqiang in 2005. Xiaonei was rebranded as Renren and went public on the NYSE in 2011. Following its IPO, Renren divested its social networking and used car businesses to focus on a vertical SaaS model, leading to the current iteration as Moatable, with its headquarters now in Phoenix, Arizona.

Moatable's business model is centered on providing capital, management expertise, and support services to its portfolio of U.S.-based SaaS companies. The company's primary holdings serve large industries with millions of participants, including real estate, property management, and logistics.

Moatable's key subsidiaries include: * **Lofty (formerly Chime):** An all-in-one CRM and sales acceleration platform for real estate professionals. Launched in 2016, Lofty integrates IDX websites, marketing automation, and AI-driven tools to help agents capture leads, manage client lifecycles, and close transactions efficiently. * **Trucker Path:** A comprehensive mobile application and online transportation management platform for the North American trucking industry. Used by over a million drivers, it provides truck-safe GPS navigation, real-time information on parking availability, weigh station statuses, fuel prices, and a marketplace for freight sourcing. * **Rentancy and The Letting Partnership (TLP):** Through its Lofty subsidiary, Moatable has expanded into the property tech sector. It acquired UK-based Rentancy to serve property managers and landlords and later signed a definitive agreement to acquire TLP, a firm that provides client accounting outsourcing for the lettings industry.