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Cheyipai

cheyipai.com

Stage

Acquired | Acquired

Total Raised

$205M

About Cheyipai

Cheyipai (车易拍) is an e-commerce firm for second-hand vehicles.

Headquarters Location

Beijing, Beijing,

China

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Expert Collections containing Cheyipai

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Cheyipai is included in 2 Expert Collections, including E-Commerce.

E

E-Commerce

9,879 items

A

Auto Commerce

539 items

Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.

Latest Cheyipai News

Alibaba-backed Chinese car trading platform SouChe acquires rival Cheyipai

Apr 11, 2018

April 11, 2018 SouChe , a Chinese automotive platform backed by several investors including Ant Financial and Alibaba , announced that it has acquired used car marketplace Cheyipai. In an announcement, SouChe said, Cheyipai will be operated independently under its original brand, team, and organizational structure. “It is rather strategic collaboration rather than merely acquisition but the capital cooperation will enhance the relationship between the two companies,” said SouChe CEO Kevin Yao. Cheyipai, launched in 2016, focuses on used-car inspection and online auction. Through the platform, car dealers make bids online based on inspection reports, allowing auctions to be completed in 15 minutes. Currently, Cheyipai’s trading network has covered more than 600 cities across the country. The platform has more than 65,000 car dealers and it has inspected and traded more than 3 million used cars. SouChe, which successfully raised more than $600 million of funding from a number of investors in 2017, said it has digitalized the operation for over 30,000 used car dealers, 60,000 Tier 2 new car dealers, and 5,000 4S (sale, spare parts, service, and survey) stores. Through cooperation with automobile manufacturers, Ant Financial, and offline car dealers, SouChe launched its car leasing product, TanGeChe, which requires only 10-per cent down payments for new cars. The announcement also revealed that SouChe is also working on the acquisition of iyunche.cn, a vehicle logistics platform, to provide better delivery services to used car transactions. The deal is expected to build up the core competitiveness of used car trading, namely quick deal, better price, and fast delivery, SouChe said. Yao said, the trading volume of used cars reached tens of millions in 2017, while less than 10 per cent of the figure was contributed by the top three e-commerce platforms of used cars. “As long as a new growth point is created, all the players will have the opportunity to get into the arena for next level of competition,” Yao said. Before the acquisition, the main players in online used car market were Guazi, xin.com, and renrenche. SouChe’s acquisition of Cheyipai will change the competition from a game of three players to a game of four players, industry insiders predicted. In an interview with CNBC, Yuan, SouChe’s CFO, said China’s auto retail and finance market is at more than Rmb10 trillion ($1.57 trillion). “I think the growth rate for the next five years will be close to 20 percent,” Yuan was quoted as saying. Also Read:

Cheyipai Frequently Asked Questions (FAQ)

  • Where is Cheyipai's headquarters?

    Cheyipai's headquarters is located at Beijing.

  • What is Cheyipai's latest funding round?

    Cheyipai's latest funding round is Acquired.

  • How much did Cheyipai raise?

    Cheyipai raised a total of $205M.

  • Who are the investors of Cheyipai?

    Investors of Cheyipai include SouChe Holdings, BAIC Motor, Sequoia Capital China, CITIC Capital, Matrix Partners China and 4 more.

  • Who are Cheyipai's competitors?

    Competitors of Cheyipai include Carvana and 3 more.

Compare Cheyipai to Competitors

C
Chezhibao

Chezhibao is an online used car trading site which uses an auction system to sell cars, and provides free, one-stop services for sellers.

R
RenRenChe

Shanyi Shanmei Technology, dba RenRenChe, is a Beijing-based used-car online transaction platform.

C
Chehaoduo

Chehaoduo is the operator of Guazi, an online C2C used-car trading platform, and Maodou, a new car eCommerce platform. The company was founded in 2015 and is based in Beijing, Beijing.

C
Che300.com

Che300, developed by Sanbaiyun, is focused on the used-car appraisal online market. Che300 also provides financial services and insurance products to transaction parties.

S
SouChe Holdings

SouChe Holdings is a C2C platform allowing used-car sellers to dictate their own prices, with revenue generated from commissions charged on individual transactions. Its SaaS products, which include DaFengChe, CheNiu and Chehang168, connect used car dealers to small and large new car dealers in China.

S
Shenyou Advertising

Shenyou Advertising, operator of 51Auto, aims to provide used car information listing services through both an online web site and offline magazine publications as an used car trading information platform in China.

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