Chinese auto information and transaction platform AutoHome (NYSE: ATHM) has scored a major hit with its latest promotion, "Eleven Days of Recording." The company invited users to upload short video content of their vehicles, offering cash prizes for individual videos and shared prizes for the most popular brands.
CheHaoDuo, the owner of Chinese used auto vertical Guazi, has secured $162 million U.S. in a series C+ funding led by Tiantu Capital. Existing investors, including DST Global, Nuoweiqi VC, and CKE, also joined the round.
Drive Motors, an auto financing and shopping platform, has named automotive veteran Chris Gugliotta as head of strategic partnerships. He'll be responsible for leveraging transparent and omnichannel, online car-buying tools for auto lenders and manufacturers.
Tobias Hartmann, who is currently responsible for HelloFresh's U.S. operations, has been appointed as Scout24's new CEO. He will take over from Greg Ellis who decided to step down for personal reasons by the end of December 2018.
Souche will be partnering with USmile, the convenience store subsidiary of China National Petroleum Corporation (CNPC), which is one of the world's largest companies (ranking fourth on the 2017 Fortune 500). USmile outlets can be found in more than 20,000 CNPC gas stations across China.
Schibsted Hungary now handles programmatic sales of display ads itself, via programmatic ads marketplace HOPPex. Schibsted operates a group of classified sites in Hungary, including horizontal Jofogas.hu and used-auto classified site Hasznaltauto.hu.
Kijiji Canada's first dedicated vertical will launch by the end of the year with 493,000 car and truck listings.
Mumbai-based auto marketplace Truebil has raised $1 million (₹7.4 crores) from existing investor Kalaari Capital --- an early-stage venture capital firm based in Bangalore.
Gurugram-based automotive marketplace CarDekho has posted a strong revenue growth of 40 percent in FY2018.
Classifieds giant 58.com (NYSE: WUBA) has launched a rebranding of its used auto business for consumers outside of the country's biggest cities. Rural consumers are being targeted with a new brand called "Cabbage Prices". The new name is a play on a traditional Chinese colloquialism for unexpected cheapness. The brand will focus on providing consumers with models priced between 30,000 and 50,000 RMB (approx. $4-7,000 U.S.).
