recently, tiger sniffing exclusively learned that the domestic second-hand car trading platform provider has completed all the car C $85 million round of financing, the current round of financing by the Tencent, as the lead investor, Shun source etc. the last round of investors to continue with the cast, Huaxing served as financial advisor. After the current round of financing, the valuation of all cars will be more than 500 million U.S. dollars.
car was founded in April 2014, completed two rounds of financing last year, the cumulative amount of $25 million. All the car founder and CEO Li Jian told the tiger sniffing, C round of financing is from the beginning of May this year for the investor, Tencent had been in the A round of financing, but at that time they to all car models also need to see some knowledge based, so this round of financing reached faster.
used car startup window is closing
has more than half of the team’s core team at Baidu, and Li Jian himself was Baidu’s product director. Therefore, everyone in the current round of financing with Baidu also had communication. The final choice of Tencent, Li Jian said, more attention to Tencent outside the funds can flow, social products and Internet Banking (micro banks) and other potential resources.
at the beginning of 2015, BAT significantly increased investment in the automotive aftermarket. The first is the January Tencent jointly Jingdong investment BITAUTO (contain the second-hand car business); then in March, Baidu led a excellent letter shot, it is worth noting that in 2013, the Tencent had voted over the excellent letter shoot. In April, Ali announced that the secondary vehicle trading platform on the line by the end of 2014 was integrated with the local car service business. In contrast, Baidu more emphasis on car investment in the field, after investing in Uber, the first half of this year has invested 51 vehicles, car every day, to some extent, is also subject to drops, the rapid combination of stimulus.
and Li Jian think, from the entrepreneur’s point of view, since 2015, the second-hand car business window has been in a semi closed state. He said, "2013 start in the second half, take money easier, 2014 is the easiest, when you just put forward a good idea of entrepreneurship, the team is not particularly stupid, can get money.". Now, investors are very picky about teams and business models. So, I haven’t heard anything new yet this year."
is not the capital market that has been less enthusiastic about the used car entrepreneurs, but has become more cautious and inclined to model proven projects. Li Jian said, "the company was founded in 2014, the first round of money can also tell stories, and now the window period is over, you can only use business data to speak."."
so what’s the value of the car? 500 million dollars? What about its business data?
all cars – business model analysis,
traditional used car trading process is complex, generally in the middle of the need to pass 4S shop or second-hand car wholesale market, to the car dealer (cattle) to sell to the car buyers hands. All cars take C2C virtual consignment mode, matchmaking, transfer owners and car buyers to achieve