Snowplus is funded by major tech VCs and has launched caffeine and smokeless e-cigarettes.
More than 500 million users are expected to participate in this year’s promotion.
Sneaker trading platforms are increasingly adopting new technologies like blockchain to keep their users happy.
E-commerce players and specialized verticals such as used car platforms are operating their own auction platforms.
The new entity will expand into used book and home appliance sales.
China’s second-hand car trading market has witnessed the rise of several top players include Uxin, Renrenche, Guazi, and Souche.
Anne and her team at J Cap recently released a report accusing US-listed Chinese second-hand auto sales platform UXIN of fraud.
Its stock price closed at almost one-tenth the value of its $10.49 peak price in December.
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.
The company seeks to increase its focus on its retail business to improve lower-tier city penetration.