萝莉视频

Chinese online used goods trading marketplace that it has raised a massive $300 million Series B from its parent company and .

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The round comes nearly two and a half years after the company raised a $200 million from Tencent Holdings at a post-money valuation of $1 billion, according to its 萝莉视频 profile.

58.com, which is described by as the country鈥檚 鈥渓argest online marketplace,鈥� will remain Zhuanshuan鈥檚 majority shareholder, according to the release. 58.com is listed on the NYSE, having gone public in 2013.

Founded in 2015, Zhuanzhuan鈥檚 鈥減latform records more than 10 million user transactions annually,鈥� according to . It鈥檚 been described by some as an 鈥渙nline flea market鈥� in the industry since it features only secondhand goods.

Zhuanzhuan CEO Huang Wei said 鈥渋n an open letter鈥� he hoped 鈥渢he cash injection would help the company 鈥榮urvive鈥� a challenging business cycle and intense competition,鈥� reported .

Indeed, the popularity of secondhand marketplaces continues to increase globally. In the United States, luxury consignment platform is an example of a company in the space that went public this year after reporting revenue of $207.4 million in 2018, up 55 percent compared to 2017. In April, we reported on how another fashion resale marketplace was reportedly eyeing an IPO that could take place as early as this fall.

The Zhuanzhuan raise touches on several trends that we鈥檙e tracking at 萝莉视频 News. Namely the decline in China鈥檚 share of supergiant ($100 million and larger) rounds, and the growth of supersized early-stage rounds. By managing to be a tectonic Series B, Zhuanzhuan鈥檚 latest capital raise is downright interesting.

As is the context the company provided for its round. This new money isn鈥檛 merely for expansion or hiring, but instead will help Zhuanzhuan 鈥渟urvive.鈥� As China鈥檚 economy slows alongside the United States鈥� own, we may see more rounds of a similar nature with a similar explanation.

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