Transfer to the previous round of investment in 58 cities and Tencent continue to participate in the investment, 58 cities will continue to hold a majority share.
On September 11th, it was learned that 58 second-hand trading platform of the same city transferred to an agreement with a number of investors, completed $300 million in Series B financing, transferred to the previous round of investment in 58 cities, and Tencent continued to participate. Investing. After the completion of this financing, 58 cities will continue to hold a majority share. The transition period of the B round of financing was relatively short. It took only more than three months since the start of financing in May 2019.
This morning, the transfer of CEO Huang Wei sent an internal letter to all employees. Huang Wei mentioned in the letter that since 2019, the progress in the aspects of operational efficiency improvement and quality inspection performance has been effective. The financing at this point of time also reflects the second-hand big track and the business model of the transfer. Market and capital confidence. In addition to financing, the transfer of the new round of shareholders has approved the reserve of a considerable reserve pool for the team to stimulate the transfer of employees.
Huang Wei said frankly that after reviewing the completion of the A round of financing two years ago, the first feeling was excitement. The first feeling of completing the B round of financing today is “live”:< Span> In 2019, the challenges from the economic cycle and the market made the entrepreneurial environment more severe. The transition must be awe-inspiring and put forward higher requirements for ourselves to continue to “live”.
While looking ahead to the future of the secondary market, Huang Wei mentioned that second-hand transactions are becoming more and more popular. From a global perspective, developed countries and global industrial chains have long formed a large network of value flows. The structural soil of China’s economic development, the value of the first and second line and the third and fourth line will also form a unique and huge development space.
In April 2017, it was transferred to Tencent’s $200 million Series A financing and deep cooperation with Tencent in social channels. At present, the WeChat wallet portal has been opened and the resources are opened to 1 billion WeChat users.
And just recently, the acquisition of the digital consumer goods testing and screening platform WHYLAB Lab was completed. At present, the founding team of WHYLAB and the original ZEALER core members have all joined the transfer intelligent inspection center. Xiang Changfeng, the co-founder and general manager of the 3C business group, said that after the successful acquisition of WHYLAB, the transfer will continue to promote the standardization and automation of the second-hand mobile phone inspection system.
The following is the full text of the internal letter of the CEO Huang Wei
I believe everyone knows that in the past three months, we have quickly completed a round of $300 million in Series B financing.
Since 2019, we have achieved initial success in many aspects such as operational efficiency improvement and quality inspection compliance. The financing at this point of time also fully reflects the second-hand big track and the business model of transfer is the market and capital confidence. . This is a good thing for the transfer. Here, I would like to express my heartfelt gratitude to my colleagues who have worked hard in different positions and in order to turn around.
Reviewing the completion of the A round of financing two years ago, the first feeling was excitement at the time; today we officially announced the completion of the B round of financing, my first feeling at this moment is “live.”
In 2019, the challenges from the economic cycle and the market made the entrepreneurial environment even more severe. We must remain awe-inspiring and put forward higher demands on ourselves in order to continue to “live.” This year, some startups may not be able to take advantage of this cycle. The market is increasingly demanding for the company’s efficiency and anti-fluctuation. A friend of nearly forty years old told me a few days ago that I was particularly anxious, “I am afraid to be a middle-aged man who lost his job.” In the current environment, from the company to the individual, there needs to be a stronger sense of crisis and self-driving. Today, when we get financing, it only means that we need to put forward higher requirements for ourselves, and we need stronger and more self-transformation and growth to achieve sustainable development and provide better services for users.
“Live”, only “live” can fulfill our mission. In the second-hand industry, we have been the first to inspect the quality inspection. In the past four years, we have always insisted on “free” and spare no effort to promote change. It is our insistence on service standards and goals. China’s second-hand circulation is also different because we have a small one. We believe that second-hand circulation is a “good thing” for the benefit of others and for the benefit of society. We also hope that the world will be better because of the circulation. The bigger the dream, the stronger the resistance, the more convinced, the more persistent. I want to do a “good thing” without a cow, running, squatting, squatting and doing “good things” is the real cow.
In addition to financing, there is also a good news to share with you: the new and old shareholders of this round have approved a reserve pool of options for the team to be used to encourage students who are making progress and making important contributions to the transfer. .
Second-hand transactions are becoming more and more popular. From a global perspective, developed countries and global industrial chains have long formed a large network of value flows. The structural soil of China’s economic development, the value of the first and second line and the third and fourth line will also form a unique and huge development space. Let the world be better because of the flow, the road is long and the line is coming!
黄炜
September 11, 2019