[Abstract] the second-hand car electricity supplier industry is big money transactions, it has 3 major difficulties: "a car condition", "a car used car price and demand across the region. This makes it a natural heavy asset industry, it is necessary to have a huge line of personnel support, facing the threshold of entry.
Tencent technology Jianping, March 18th, reported
in the used car electricity supplier car easy to shoot announced $110 million in financing soon after its rival excellent letter also completed a new round of financing.
excellent letter today announced that the company has completed from Baidu, KKR and Coatue of a new round of financing, totaling $170 million, by the Renaissance acted as exclusive financial adviser.
excellent letter was founded in September 2011, is a second-hand car online trading service provider, its core business covers the second-hand car, second-hand car auction network electronic retail platform, as well as the second-hand car financial services, the founder and CEO of Dai kun.
excellent letter has been the prime United capital, DCM, Bertelsmann Asia Investment Fund (BAI) and Tencent and other institutions to multiple rounds of investment, in September 2014 announced the completion of $260 million C round of financing, investors include Warburg Pincus, tiger Global Fund etc..
at present, excellent letter in Beijing, Shanghai, Guangzhou, Chengdu, Tianjin, Hangzhou, 6 cities with branch offices, supporting on-site auction centers and delivery centers, Wuhan, Xi’an has a service center.
early car easy to shoot also get 4 round of financing, namely:
A round of financing, in 2011, the amount of $5 million financing, the investor is Morningside venture;
B round of financing, in March 2013, the amount of financing $20 million, the investor side Jingwei China;
C round of financing, in February 2014, the amount of financing over $50 million, lead investor Sequoia Capital, Morningside ventures, Chinese Jingwei and CITIC Capital Fund with investment etc..
D round of financing $110 million, all the company’s lead investor, Sequoia, Jingwei Chinese, Morningside ventures and CITIC Capital Fund with investment.
used car electricity supplier industry development characteristics similar to the Jingdong and Ali, a Jingdong and attracted more than 2 billion U.S. dollars of funds, Alibaba is also in the most critical historical period with YAHOO’s $1 billion, to the early development of big industry must have a large investment.
used car electricity supplier industry will have similar drops fast war
in the ongoing capital wars, the car is easy to shoot the current financing rate slower than the excellent letter. Car easy to shoot CEO Yang Xuejian had talked about the matter of Tencent technology, said the car is not easy to shoot the lack of funds, and higher efficiency in the use of funds than competitors.
said hina CEO Chen Hong told the Tencent interview with science and technology, the United States and other developed countries, second-hand car trading is 2 times the size of the car, but Chinese second-hand car trading is less than.