Chinese food delivery giants draw public ire, Dianping’s symbolic retreat is made official; and VC interest in e-commerce wanes.
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.
The company seeks to increase its focus on its retail business to improve lower-tier city penetration.
Banma Network Technologies claims to be the latest member to join China’s coveted unicorn club.