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 inWith Chinese Characteristics
INSIGHTS | Markets, not floods, will drown bitcoin miners
Recent floods have washed away remote Sichuan bitcoin mines, but small wildcat miners were already getting washed away by Big Bitcoin.
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 inEvents
ORIGIN Innovation Awards 2020: finalists
The ORIGIN Innovation Awards finalists list is up! Results will be announced on Nov. 18, 2020 during the ORIGIN Conference, so stay tuned.
Posted inHeavy Hitters
TikTok, Douyin the world’s second most-downloaded app in 2019
TikTok and Chinese version Douyin recorded more than 738 million downloads in 2019 across Apple’s App Store and Google Play in 2019.
