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Chinese used electronics recycling platform Youdemai.com has reportedly poached Zhao Yicheng 赵一成, a senior executive at e-car maker Faraday Future, to take over as the company’s new CEO.

Zhao Yicheng 赵一成,

Zhao was formerly senior vice president of global online marketing and sales for Faraday Future.

Youdemai founder Wang Weitao 王伟涛 reportedly recruited Zhao himself, and will voluntarily step aside from his current role as CEO. As part of the announcement, Wang also confirmed that the company is in the process of preparing for a new series C funding round, which is expected to be finalized in the coming 3-6 months.

Founded in 2014, Youdemai specializes in handling laptops and PCs, but also handles cameras, smartphones, and other consumer electronics. It has become an official recycling partner of electronics manufacturers Lenovo, Asus, Hewlett-Packard, and Sony.

Shanghai-based Youdemai (literally “have for sale” in English) completed a 120 million RMB ($17 million U.S.) series B funding round led by PICC Industrial Investment Management and Mubo Capital in March 2017.  This was followed soon after by a series B+ funding round worth around 100 million RMB, led by state-owned insurance giant People’s Insurance Company of China (PICC).

Wang also confirmed that the company is hoping to branch out further into used smartphones, where it hopes to challenge market-leading platforms AiHuiShou and HuiShouBao. Unicorn AiHuiShou secured $150 million U.S. in a series E funding from Tiger Global Management and e-commerce giant JD.com in July. This was followed in September when e-commerce giant Alibaba (NYSE: BABA) joined the fray with an undisclosed “series C1 strategic funding round” for rival HuiShouBao.