SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo
https://techcrunch.com/2019/02/28/softbank-invests-1-5-billion-in-chehaoduo/
SoftBank’s Vision Fund is taking a bet on China’s auto market after it agreed to pour $1.5 billion into online car trading group Chehaoduo, which literally means “many cars” in Chinese.
The Beijing-based company operates two main sites — peer-to-peer online marketplace Guazi for used vehicles, and Maodou, which retails new sedans through direct sales and financial leasing. (These sub-brands are more subtly named, which translate to “sunflower seeds” and “edamame”, respectively.)