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Posted inNews

Used car trading platform Uxin steers for an US IPO

Chinese second-hand car trading platform Uxin, more commonly known as Youxin in Chinese, is planning for an $800 million IPO in the US market, IFR has reported citing people familiar with the matter. The source added that the firm has already hired Goldman Sachs, JPMorgan Chase, and Morgan Stanley as the underwriters. Founded in 2011 […]

Posted inNews

China’s Craigslist 58.com sees fastest growth in recruitment in Q2

New York-listed 58.com (NYSE: WUBA), often described as China’s Craigslist, reported $382.8 million in total revenues for the second quarter, growing at a 33.3% year-on-year increase and exceeding the higher end of the company’s guidance. “A magical site” (一个神奇的网站),  as its slogan claims, 58.com provides classifieds platforms in diverse categories, from second-hand goods, second-hand automobiles, recruitment to real estate, […]

Posted inNews

These 4 failed directions make what ofo it is now

The best success stories often begin with failures. What we see are the hefty funding rounds, skyrocketing valuations; what we overlook are the embarrassing first efforts, setbacks and radical change of directions. Ofo, the first company bike rental company to gain unicorn status in the emerging sector, meets nearly every definition we have for a successful […]

Posted inNews

Tencent bets on online flea market with $200m investment in Zhuan Zhuan

The decades-long rivalry between Tencent and Alibaba spans almost every hot tech vertical in China. It’s no exaggeration to say that where there’s Tencent, there’s Alibaba and vice versa. The competition between the two Chinese internet giants is now entering another field – second-hand goods trading market. According to the official announcement, Tencent has injected […]

Posted inNews

And the ChinaBang 2017 Awards go to …

It’s that time of the year again: the festive weekend for Chinese techies, startup entrepreneurs and investors alike. ChinaBang Awards, an annual ceremony recognizing the best startups in China, is on the go. To continue last year’s initiative in finding out the amazing startups nationwide- not just 1st tier cities, this year’s ChinaBang Award ceremony […]

Posted inNews

Gadget recycling platforms go for gold with old smartphones

As the world’s largest smartphone market, China is set to retire around 400 million smartphones per year. The precious metals found in smartphones make this an untapped gold mine for O2O gadget recycling businesses. Investors certainly seem to think so, with the online gadget recycling platform Aihuishou (爱回收, literally “love recycling” in English) receiving an […]

Posted inNews

[Discover China’s Next BAT] 8 rising stars, part 2

This is the fourth post in our series: Discover China’s Next BAT, where we will go over the potential tech giants that are leading China’s IT industry. Stay tuned over the coming month to keep updated on the next ‘BAT.’ iiMedia Research Group, a leading research institute in China, has released a list of leading mobile internet companies based on the […]

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