58 City 1.US $ 0.5 billion acquisition of Uxin’s shooting business has previously invested in Uxin

58 City 1.US $ 0.5 billion acquisition of Uxin’s shooting business has previously invested in Uxin
On March 24th, Beijing time, 58 City announced that it signed an agreement with Uxin Group, a used car e-commerce platform, to 1.Acquired assets related to Uxinpai’s business for US $ 0.5 billion.After the completion of this transaction, 58 Tongcheng will build an efficient second-hand car industry circulation system based on the flow advantage of the second-hand car platform and integrate the auction business of Uxinpai.58 Jincheng CEO Yao Jinbo said, “In 2020, 58 Tongcheng will deeply implement the” full service “strategy, better understand the deeper needs of car dealers, and provide second-hand car auction services to car dealers, which is also part of our core strategy.Used car auction is a key link of used car circulation and value discovery, which not only improves the efficiency of selling cars and shortens the cycle of selling cars, but also increases the inflow of vehicles in the used car market.In the future, we will continue to improve the service capabilities of Uxinpai in the B-end market, not only helping car dealers sell cars, but also helping them collect cars through online auctions, and truly promote the efficient circulation of the used car industry.”The two parties said that as a used car life service platform, 58 used car business in the same city has established a long-term and stable cooperative relationship with national car dealers. As the largest used car auction platform in China, Uxinpai has accumulated a wealth of dealer resourcesAnd service experience.The 58-city acquisition of Uxinpai will strengthen Uxinpai’s online auction capabilities through platform traffic and resource advantages, and build it into an authoritative brand for online circulation of used cars.At the same time, the high degree of collaboration between the two parties in terms of traffic acquisition, vehicle source, vehicle inspection, big data and SAAS will help 58 cities to deeply empower car dealers and serve customers through integrated system solutions.58 The same city has been cultivating the used car industry for many years, and is constantly creating a more standardized and intelligent online information service model.As of now, 58 cities have an average annual source of tens of millions of second-hand car vehicles. The business covers 400+ cities across the country, with a service team of more than 2,000 people, serving 80% of second-hand car dealer customers nationwide.After the acquisition of Uxin Pai, it will further enhance the status of 58 City in the used car industry, and better create value for second-hand car dealer customers.Sauna and Yewang noticed that in recent years, 58 cities have cooperated frequently with used car platforms.In May 2019, the second-hand car e-commerce platform Uxin released an announcement, announcing the completion of a new round of financing, Uxin and 58 city reached a strategic cooperation, Huaping Investment, TPG and other investment institutions continue to follow the investment, the amount of funds raised about 2.300 million US dollars.Sauna, Yewang Chen Weicheng Editor Zhao Ze Proofreading Li Ming