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§ Private Profile · Beijing, China
Online automotive platform operating Guazi, a C2C used car trading platform, and Maodou, a new car eCommerce platform for China.
Based in Beijing, China, Chehaoduo operates Guazi, a C2C online platform for trading used cars, and Maodou, a dedicated ecommerce platform for purchasing new vehicles. The company directly connects individual buyers and sellers to eliminate traditional dealership middlemen, generating revenue through transaction commissions and platform fees. To facilitate these automotive transactions, the organization provides comprehensive ancillary services, including rigorous vehicle inspections, 7-day trial drives with no reason returns, online auctions, post-sale warranties, and financial assistance. Operating at a massive scale within the Chinese market, the enterprise has secured approximately $4.3 billion in total funding, which includes a recent $300 million investment round. This substantial capital backing comes from a syndicate of prominent institutional investors including Sequoia China, Softbank Fund, Yunfeng Fund, and IDG Capital. Chehaoduo was officially founded in 2015 by Yang Haoyong, Zhang Xiaopei, and Bai Rubing.
Chehaoduo has raised $2.3B across 4 funding rounds.
Chehaoduo has raised $2.3B in total across 4 funding rounds.
Chehaoduo has raised $2.3B across 4 funding rounds. Most recently, it raised $1.5B Other Equity in February 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 28, 2019 | $1.5B Venture Round | Eric Chen | — | Announced |
| Nov 1, 2017 | $180M Series B | — | — | Announced |
| Jun 16, 2017 | $400M Series B | — | Beijing Jingxi Guigu Innovation Investment, BRV Aster Fund, Dragoneer Investment Group, Hcapital, Hongshan Capital Group (Sequoia Capital China), Matrix Partners China, NEW Trend Equity Investment Fund Partnership | Announced |
| Mar 31, 2016 | $204.5M Venture Round | — | Fengyun Angel Fund, Light Capital Group, Noviqi Investment, Sequoia Capital, Shanxing Capital | Announced |
Chehaoduo operates prominent online automotive platforms, including Guazi, a leading used-car trading service, and Maodou, a new car e-commerce platform. It facilitates direct transactions between individual car sellers and buyers for pre-owned vehicles. The company leverages its digital marketplace to streamline trading, aiming for market efficiency and transparency.
Founded in July 2015 by Yang Haoyong in Beijing, Chehaoduo emerged from an insight to disrupt traditional car sales models. Yang's vision centered on empowering individuals to trade vehicles directly, more efficiently and securely, by circumventing intermediaries and addressing industry pain points.
Chehaoduo serves individual car buyers and sellers across China, providing a trusted platform for automotive transactions. The company endeavors to make high-quality used cars more accessible, while actively expanding into the new car segment. Its long-term vision is to establish the premier automotive trading ecosystem, enhancing the car ownership experience.
Chehaoduo has raised $2.3B in total across 4 funding rounds.
Chehaoduo's investors include Eric Chen, Beijing Jingxi Guigu Innovation Investment, BRV Aster Fund, Dragoneer Investment Group, HCapital, Hongshan Capital Group (Sequoia Capital China), Matrix Partners China, New Trend Equity Investment Fund Partnership, Fengyun Angel Fund, Light Capital Group, Noviqi Investment, Sequoia Capital.