Chinese e-commerce behemoth JD officially released the “Paipai second-hand (拍拍二手)” brand, Chinese media 36kr is reporting. As the second-hand e-commerce market is growing bigger and seeing its arch-rival Alibaba’s second-hand e-commerce Xianyu is doing well in the sector, JD is making a move into the burgeoning but risky market. Paipai has built-in automatic valuation system to help […]
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Used car trading platform Uxin steers for an US IPO
Chinese second-hand car trading platform Uxin, more commonly known as Youxin in Chinese, is planning for an $800 million IPO in the US market, IFR has reported citing people familiar with the matter. The source added that the firm has already hired Goldman Sachs, JPMorgan Chase, and Morgan Stanley as the underwriters. Founded in 2011 […]
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Meituan begins job cuts to lower costs: report
Meituan becomes the latest Chinese tech major to begin large-scale layoffs. Companies are replacing veteran employees with cheaper new hands.
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Data shows 2017 was the year of e-commerce apps: report
China is a mobile-first country and the popularity of smartphones has also reflected one of its most vibrant internet industries: online shopping. China-based analysis firm Jiguang Data has published a new research report on the most popular e-commerce in 2017 charting the biggest players in the field. The report includes seven categories for online shopping […]
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Tencent bets on online flea market with $200m investment in Zhuan Zhuan
The decades-long rivalry between Tencent and Alibaba spans almost every hot tech vertical in China. It’s no exaggeration to say that where there’s Tencent, there’s Alibaba and vice versa. The competition between the two Chinese internet giants is now entering another field – second-hand goods trading market. According to the official announcement, Tencent has injected […]
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Four strategies of China’s top 10 e-commerce apps
Pushing advertisement online and offline has been the typical strategy of China’s e-commerce giants to bring in customers, explaining why e-commerce sector is one of the toughest battlegrounds for freshly born startups since they have little money to spend on advertising. However, the trend is changing. As startups like Bolome, combining live streaming into cross-border […]
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How E-Commerce Is Helping China Overcome A Fear Of Second-Hand Clothing
Tainiqi Zhu admits that the Chinese market might not be ready for second-hand clothing, but he’s willing to make a bet on its potential. “In mainland China, there’s a problem of trust and communication,” says Mr. Zhu. “And even after you convince someone, you still have to negotiate the price. There’s a huge culture of bargaining.” Mr. […]
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Gadget recycling platforms go for gold with old smartphones
As the world’s largest smartphone market, China is set to retire around 400 million smartphones per year. The precious metals found in smartphones make this an untapped gold mine for O2O gadget recycling businesses. Investors certainly seem to think so, with the online gadget recycling platform Aihuishou (爱回收, literally “love recycling” in English) receiving an […]
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LUXSENS uses machine learning to find the best price for luxury bags
It’s hard to be the smartest shopper paying the right price for items. When considering to buy a luxury item, there are millions of merchant stores in the world, both online and offline and fragmented data points about the price. A Shanghai-based company is appealing to price-savvy customers who want to purchase luxury items at the lowest price […]
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Tencent, Baidu, JD.com Double Down On Bitauto With $550M Investment
Bitauto Holdings, a leading automotive information service in China, announced on Tuesday a $550 million USD strategic investment from a consortium comprised of Tencent, Baidu and JD.com. A company statement noted that the investment would be made in cash, and go toward Bitauto’s e-commerce-related automotive financing platform Yixin Capital. Yixin Capital says the combination of data, users, […]
