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Goldman Sachs, Tencent, Didi Chuxing Invest USD 300 Mln in Car Trading Platform Renrenche

36Kr.com, 4/26/18

Beijing-based Renrenche Network Technology, operator of online and mobile used car trading platform Renrenche.com, recently won USD 300 mln in new funding led by Goldman Sachs, with participation from Chinese internet conglomerate Tencent (0700.HK) and taxi booking and car hire service app Didi Chuxing.

The funds will be used to bolster talent acquisition, strengthen team building, and upgrade core technologies and innovative business strategies.

Through four years of development, Renrenche has built a one-stop, comprehensive trading services system which combines used car, finance, after-sale, and other services. As of July 2017, Renrenche's monthly trade volume had reached 18,000 vehicles, with over 200,000 trades accumulated in total.

Keywords: VC e-commerce Internet funding Tencent Goldman Sachs 0700.HK Talent Renrenche Didi Chuxing automobile M&A second-hand

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