58.com (NYSE: WUBA), China’s largest classifieds conglomerate, announced that it will be investing 50 million RMB ($7.5 million U.S.) in a pre-Series A funding round of Wowqu.cc (窝趣). The two companies will also enter into a strategic partnership, via 58.com’s real estate subsidiary Anjuke (安居客).
58.com (NYSE: WUBA) is known for its cross-sector innovations, but the company’s newest offering to the used-autos sector might need to go back into the oven. The classifieds giant is currently on a used-auto dealer-support roadshow around China. The roadshow gives support and offers advice to small-auto dealers who list on 58.com (b-to-b/b-to-c listings).
Zhuan Zhuan (转转), a mobile, c-to-c transaction platform for used goods, launched a promotion with Lenovo (联想), China’s leading manufacturer of computers, tablets, and smartphones.
Tiantian Paiche (天天拍车), China’s leading b-to-c auction platform for used autos, is patting itself on the back for a very strong start to 2017. The company is citing internal figures showing a growth in total transaction volume for 2017 to date of more than 300 percent.
China's auto site Uxin (also known as Youxin) announced that it will be rolling out an "intelligent" distribution system that will facilitate the nationwide circulation of used cars on its platform. None of Uxin's major competitors in the vertical have made any steps toward installing a similar system.
Anjuke (安居客), China’s leading property listings site and a subsidiary of classifieds conglomerate 58.com (NYSE: WUBA), signed a partnership agreement with Fyxin.com, a provider of financial services.
The first Tencent/Zhuan Zhuan co-initiative to reach the public since Tencent's $200 million U.S. investment, is a new “mini program” (小程序) for Tencent’s WeChat (微信) social networking and chat platform, which offers the opportunity to buy a used phone "within 30 seconds". We tested it. Here's what we found.
Used-goods auction platform Xianyu (闲鱼), a subsidiary of Alibaba's Taobao (淘宝), officially opened its first offline “experience outlet” for used cars in Hangzhou and announced plans to open a further 500 such outlets in the coming three years.
Recruitment is the most successful vertical of classifieds giant 58.com, ranking just ahead of property. Despite this, 58.com (NYSE: WUBA) has set its sights on even greater dominance in recruitment, with the help of greater inter-platform synthesis.
Lianjia (链家), otherwise known as Homelink, China’s largest property site, has been suffering – along with the rest of Chinese real estate – through a long, economic winter created by government cooling measures and municipal regulatory crackdowns. With consumer confidence flagging, Homelink yesterday announced a series of commitments for rental users of its platform. Among these was the extension of the company’s “accurate property history” designation (which is backed by an enormous proprietary property information database) to rental properties.