Ganji Rebrands C2C Used-car Trading Platform, Solicits Third-party Investors
DoNews, 9/15/15
Mark Yang, founder of Chinese online classifieds website Ganji.com, recently announced that the company's online C2C used-car trading platform Ganji Haoche has changed its name to "Guazi Used Car Direct Sales Network" (Guazi.com). The platform will operate in 60 cities throughout China by the end of 2015, handling 80% of online C2C used vehicle transactions in the country.
Ganji.com has invested USD 200 mln in Guazi.com and has also recently been in contact with interested third-party investors.
Guazi.com last week launched a RMB 200 mln advertising campaign involving online video, LED advertisements, and TV ads, estimated to reach more than 500 mln viewers. Over the next year, Guazi.com will invest RMB 1 bln in market expansion.
Guazi.com was launched in November 2014 and currently serves 40 Chinese cities, with over RMB 1 bln in total transactions, and more than RMB 400 mln in transactions projected for this month. Currently, among users purchasing vehicles on Guazi.com, 12% purchase Ganji.com financial products, 10% buy insurance services, and more than 20% buy other after-sales services. These numbers are forecast to reach 20%, 30%, and 50%, respectively, by the end of the year.
Keywords: Guazi Internet online classifieds C2C Ganji Mark Yang automobile second-hand
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