China’s “re-commerce market” is predicted to reach RMB 1.25 trillion in 2020 as consumers shop for second-hand goods on online marketplaces.
TechNode spoke to the general manager at TusStar Ventures, which invested in second-hand marketplace Ponhu-Luxury in 2015.
Police apprehended the sender after the user feared for the safety of her family.
Chinese online housing firm Ke Holdings, also known as Beike, is starting a new round of layoffs, Chinese media outlet the Paper reported on Tuesday. The job cuts will affect the company’s research and development, operations, and mid- and back-end services the report says, citing people with knowledge of the matter. The Beijing-based firm reportedly downsized its operations in its second-hand and new property transaction services groups in March. At that time, the company refuted the rumored headcount reduction. China’s widespread tech layoff, which has impacted most of the country’s tech majors – from big-name behemoths such as Alibaba and Tencent to vertical unicorns such as Bilibli – shows no signs of ending just yet. [The Paper, in Chinese]
Several Alibaba affiliated apps now support Tencent’s WeChat Pay, a rival of Alibaba’s Alipay. The apps include food delivery service Ele.me, video app Youku, e-commerce site Kaola, entertainment ticketing platform Damai, and online reading app Shuqi. The change came less than a month after Beijing asked companies to stop blocking links to rivals’ services. Other Alibaba apps such as second-hand trading service Idle Fish and grocery app Freshippo are waiting for Tencent’s approval to support WeChat pay. [Sina Tech, in Chinese]
Competition between China’s online used car sellers is increasing, as are public spats among players.
Aihuishou, a Chinese electronics resale platform backed by JD.com, filed an application for an IPO on the New York stock exchange on Friday.
This is not the first time Guazi has been accused of unfair competition and attempting to mislead the public.
Alibaba-owned second-hand goods marketplace Idle Fish boasts 1.3 million interest-based communities, a key sales driver.
Chinese food delivery giants draw public ire, Dianping’s symbolic retreat is made official; and VC interest in e-commerce wanes.