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Chinese electronics recycling and trading major ATRenew on Monday extended its quarterly profit for the seventh straight quarter. Its first-quarter revenue grew up 27.1 percent to 3.65 billion yuan, meeting the top end of its guidance.
Plum, a used luxury fashion e-commerce platform, announced on November 1 that it had completed a C round of financing worth $100 million. Zhuanzhuan, a Tencent-backed leading used goods trading marketplace in China, made the strategic investment.
Last week, while not too eventful in terms of the number of VC deals in China, saw at least three interesting investments.
Jin Ke, the general manager of Xianyu, a second-hand goods platform owned by Alibaba Group, was officially transferred to AliExpress last week. At present, Alibaba Vice President Liu Bo is directly responsible for Xianyu.
China's e-commerce giant JD.com’s second-hand commodity trading platform "Paipai" will undergo a strategic merger with China's largest electronic product recycling platform "Aihuishou".
Xianyu announced the official launch of its "Help Selling" service and decided to personally enter the second-hand market for mobile phones, digital products, and luxury goods.