Aihuishou, a Chinese electronics resale platform backed by JD.com, filed an application for an IPO on the New York stock exchange on Friday.
Alibaba-owned second-hand goods marketplace Idle Fish boasts 1.3 million interest-based communities, a key sales driver.
The used goods resale sector has had its share of problems including counterfeit goods, merchandise quality, and even legal issues concerning the sale of endangered animals.
E-commerce players and specialized verticals such as used car platforms are operating their own auction platforms.
More than 500 million users are expected to participate in this year’s promotion.
The new entity will expand into used book and home appliance sales.
Re-commerce, or secondhand shopping, is growing fast in China. But users are finding scams and counterfeits mixed in with the bargains.
Oyo’s spectacular retreat in China may have some lasting effects on SoftBank. Or it may be just another Tuesday in venture capital land.
As Meituan CEO Wang Xing’s right hand man—and college best friend—announces his retirement, TechNode takes a close look back at his career.
Meituan becomes the latest Chinese tech major to begin large-scale layoffs. Companies are replacing veteran employees with cheaper new hands.