New Parts Exchange Arises After Meritor’s Departure
From the ashes of Meritor Automotive’s aborted effort to launch Fleetworks.com has emerged a new Internet marketplace called FleetScape.com for the buying and selling of truck and other parts.
Citing concerns over the neutrality issue and pressure from trucking interests, Meritor reversed its initial decision to be a major backer of Fleetworks. The company announced April 14 that it would “not go forward with its participation” in the fledgling electronic commerce exchange.
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Investors in the new venture are the same two jilted firms that helped launch Fleetworks: Accel Partners, based in California’s Silicon Valley, and Gen3 Partners, based in Boston.
FleetScape executives now say that the Boston-based exchange will be better off without Meritor because it will be easier to remain neutral.
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