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.
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Posted inUp and Comers
Food delivery backlash, VCs snub e-commerce: Retailheads
Chinese food delivery giants draw public ire, Dianping’s symbolic retreat is made official; and VC interest in e-commerce wanes.
Posted inUp and Comers
Used car seller Uxin suspends staff after slashing salaries
Struggling used car selling platform Uxin is cutting salaries and suspending employees to cut costs amid the Covid-19 outbreak.
Posted inWith Chinese Characteristics
Taobao removes Animal Crossing listings from its marketplace
The removal of Animal Crossing came just days after reports that Hong Kong protestors posted anti-government posters on the game’s simulator.
Posted inOn the Cusp
China’s Craigslist is buying a car auction platform
Online classifieds site 58.com is purchasing the enterprise car auction unit of troubled second-hand car selling platform Uxin for $105 million in cash. Why it matters: The purchase marks the sale of another major asset from used car seller Uxin in its year-long struggle to stay afloat, complicated by slowing car sales from the Covid-19 […]
Posted inViews
Oyo’s China collapse threatens Vision Fund returns
Oyo’s spectacular retreat in China may have some lasting effects on SoftBank. Or it may be just another Tuesday in venture capital land.
Posted inHeavy Hitters
From bad Tsinghua student to Meituan second in command
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.
Posted inViews
Singles Day from the trenches: the king of pre-sales
A TechNode reporter takes on 30 million Singles Day livestreaming shoppers in a race to buy discount hand cream from the Lipstick King.
Posted inWith Chinese Characteristics
SaaS is starting to sell Chinese companies on software: GGV’s Joshua Wu
It’s a great time to start a SaaS business in China, says VC principal Joshua Wu, but finding the right sales channels might be a challenge.
Posted inViews
Pinduoduo growth story needs a new chapter
Pinduoduo has a revenue problem—the marketing services it relies on to make money simply don’t sell very well. It’s time for a change of strategy.
