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 inWith Chinese Characteristics
VC Liu Bo: The future of second-hand luxuries in China
TechNode spoke to the general manager at TusStar Ventures, which invested in second-hand marketplace Ponhu-Luxury in 2015.
Posted inTurf Wars
Chinese second-hand car platform Renrenche denies bankruptcy rumors
Competition between China’s online used car sellers is increasing, as are public spats among players.
Posted inOn the Cusp
Alibaba’s second-hand app under fire over explicit messages aimed at user’s daughter
Police apprehended the sender after the user feared for the safety of her family.
Posted inUp and Comers
Chinese second-hand car platform Uxin accuses rival of faking revenue data
This is not the first time Guazi has been accused of unfair competition and attempting to mislead the public.
Posted inNews Feed
Several Alibaba apps now support Tencent’s WeChat Pay
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]
Posted inHeavy Hitters
JD-backed electronics reseller Aihuishou files for US IPO
Aihuishou, a Chinese electronics resale platform backed by JD.com, filed an application for an IPO on the New York stock exchange on Friday.
Posted inNews Feed
Online housing firm Beike starts a new round of layoffs: report
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]
Posted inThe Numbers
Second-hand mobile phone user data is being sold in China for as little as RMB 10
Second-hand mobile phones have become a target for illicit data brokers, who recover deleted user data and sell it on the black market for as little as RMB 10 ($1.56). Even phones that have been formatted to prevent incidents like this are not immune to exploitation. According to reports, consumers sold over 30 million mobile […]
Posted inNews
JD is starting a second-hand e-commerce service “Paipai”
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 […]
