Author | Huang Qingchun

Title Map | Visual China

On March 24, Youxin and 58 were in the same city again.

58 The same city announced on the evening of the 24th that it had signed an agreement with the used car e-commerce platform Youxin Group to acquire the assets related to the Youxinpai business for USD 105 million.

This is not the first time the two are in the same frame:

In April 2016, Youxin Group held an emergency press conference, announcing 58 infringements and claiming 30 million yuan;

In May 2019, 58 of the city ’s new funding of US $ 230 million appeared in the list of investment institutions;

In July 2019, Yao Jinbo bought Youxin’s financial business for $ 100 million in cash and a certain amount of Golden Pacer shares.

So far, from tearing to investment to acquisition, the two businesses that Youxin Group is most likely to make profit have been copied by the same person.

You know, these two businesses used to be the important chips of Youxin Group on the second-hand license plate table: founded in 2011In the peak period of the year, Youxin Shooting surpassed the rival car Easy Shooting; and Youxin’s financial business has been an important support for beautifying the financial report numbers.

If it is not time for life and death, Uxin will not make a tearful cry like this: After all, no matter the financial business or the Uxin shooting business started by Uxin, the bargaining power will stop at about 100 million US dollars.

Before, some Beijing automakers told Tiger Sniff: “Youxin, a second-hand car e-commerce platform, relies heavily on automakers, but there is not enough control over automakers. Today, most automakers have not resumed work. Youxin It is conceivable that the blood loss of the platform will lead to the overall necrosis of the company if it does not save itself.

Originally, Youxin expected to make a comeback by transforming the “national purchase” model, but never expected that the new crown epidemic would accelerate the decline of the overall business of the group. After the employees ’“ stop work ”and executives’ salary reduction measures were used, The divestiture of Youxinpai business naturally became the best solution for self-rescue.

An industry veteran heard this news and told Tiger Sniff, “Youxin’s cash flow has been tight, and the choice to sell Youxin’s shooting business to 58 cities is not only for survival, but also to prepare for the backwater war.” < / p>

After all, after the sale of the Youxin shoot business, you only have to buy the nationwide business of Youxin’s business, and you can’t break down the business to continue your life.

Yao Jinbo shows muscles

After the completion of the transaction, 58 city said that it will integrate the auction business of Youxin auction through platform traffic and resource advantages to create an efficient used car industry circulation system and provide integrated system solutions with better quality and guarantee. Help the majority of car dealers to improve the efficiency of car transactions.

Speaking of people is: After finding cheap, 58 second-hand car business in the same city must show muscles and grab the used car market.

Where does this “swelling” PR theory come from?

From the expression of Yao Jinbo, CEO of 58 cities:

“In 2020, the same city will deeply implement the strategy of” striving for service “, better understand the deep needs of the majority of car dealers, and provide second-hand car auction services to car dealers. In the future, we will continue to improve Youxinbao in the B-end market. Service capabilities, not only help car dealers sell cars, but also help them collect cars through online auctions, and really promote the efficient circulation of the used car industry. “

Yao Jinbo is unsmiling and restrained. In fact, after leading the 58 cities in the Internet for 14 years, his business is mixed and his skills are quite clever.

For example, in order to merge and catch up with the network, he dug its core backbone when two short soldiers meet.

According to rumors in the workshop, Yao Jinbo quasi-collected Chen Xiaohua’s unhappy founder Yang Haoyong never mentioned the contradiction of listing. He first invited Chen Xiaohua to eat under the pretext of Hunan fellow, and invited Chen Xiaohua to sing in the name of birthday. After pulling the black from the phone, he personally went to the downstairs to call Chen Xiaohua.

When the two met at the coffee shop, without Chen Xiaohua’s consent to join 58, Yao directly introduced to others, “This is our future technical leader Chen Xiaohua.”

For example, in order to pre-install the 58 city on Xiaomi, he “guards” Lei Jun running in the winter.

There are rumors in the field: In the early years, Lei Jun was very strict about the pre-installed app of Xiaomi’s mobile phone, and many companies tried to pre-install without success. In order to become familiar with Lei Jun, Yao Jinbo had to get up early on a cold day and ran downstairs in the Lei Jun community to run with Lei Jun. One winter, the two became familiar, and Xiaomi’s pre-installation was done.

For another example, looking for a house for sniping the chain’s shells.

In 2018, the momentum of Baker’s search for housing has just started. Yao, while cooperating with real estate agents such as I Love My Home, Central Plains Real Estate, 21st Century Real Estate, and Maitian Real Estate, set up a “real listing alliance” while engaging with Zuo Hui in a circle of friends. .

But the wrist belongs to the wrist, you want to mess upSecond-hand car market, re-division of the territory of the force, 58 almost mean the same city.

58 the wrong calculation of the same city

In 2015, after Yao Jinbo wished to be merged to catch up with the market, although he was firmly in the top position of domestic classified information websites, Yang Haoyong’s “catch up good cars” spun off from the market network The previous two years of valuation have been indistinguishable from the 58-city hard-to-support 14-year market value.

Yao is a little bit bitter about this, so the second-hand car business in the same city has been tepid.

In terms of business model, 58 is essentially a traffic business. The author has analyzed in the previous article “58 Fatty,” False “without Falling:

On the one hand, the 58 city relies on high-density advertising to attract paid members and customers to bring online promotion to generate income; on the other hand, the 58 city receives the difference and the cost of the middleman by playing the role of information intermediary.

The problem is that its traffic monetization is heavily dependent on the sales team. The development model of strong sales can help 58 quickly grab market share and win traffic in the initial stage; but under the environment of mobile Internet dividends fading and weak growth , 58 the city also wanted to lie on the classified information to make money is impossible, because its depth in various fields is obviously not enough.

So you can see that the real estate industry chain, shells, I love my family, and eggshell are gaining momentum; there is no worry in the recruitment field, Zhilian Recruitment, and BOSS direct employment have grown rapidly; the automotive information platform Yiche, Autohome cannot be underestimated 觑; Ali’s idle fish in the second-hand market is even richer, and they are eating away at 58 of the original market share.

The second-hand car e-commerce platform says that the profits of car dealers in various places are not clear. Some small and medium-sized car dealers pretend to be consumers to sell cars with poor car conditions to the platform, and even use the rebate method to corrode inspectors during the inspection stage. These things Children are common in the rapid expansion stage of the platform. Even if the company has control, it is difficult to manage such a bottom layer at the business level and it is difficult to obtain evidence.

58 The same advertising bidding promotion system in the same city, in order to reduce the threshold for information access, false information leaks like water in the corners of the website, wouldn’t it give these fraudsters a hotbed?

Youxinpai ’s dedicated B2B model is connected to a professional group, so there is no need to promote it. You only need to rely on the platform. However, its disadvantage lies in the source of the car. Most used car manufacturers do not use the best quality cars. The source is on the Internet, and it is becoming more and more difficult to expand the vehicle source channel.

The auction business of the US carmax can make money, the fundamental reason is that American cars are in the hands of institutions, and they are also diversified with second-hand car operators, diversified transaction methods, simple transaction procedures, and large national car ownership. Relevant; domestic auctions do not make money because of the large number of vehicles in the hands of individuals, it is easy to fly a single order, coupled with the scattered source of vehicles, difficult cross-region transportation difficulties, high capital requirements and other constraints, the scale has been Can’t do it.

From the perspective of user habits and culture: on the one hand, the domestic second-hand car market generally lacks trust, sellers do not trust buyers, buyers do not trust sellers, and the buying atmosphere and habits of used cars are far from being formed; another In terms of the high value products such as cars and houses, the Chinese people “buy new but not old”, soaring prices so everyone can accept second-hand housing, but the price of the car has been dropping, and consumption upgrades have been encountered. The car is increasingly lacking interest.

This is why the seeds, Yuxin, and Renren have been fighting for five or six years.

Today, 58 people in the same city want to rely on the business of Jiyouxin to shoot their breasts and talk about solving the problem of the efficient circulation of used cars.