Souche bags more funds as Chinese car trading heats up

The Hangzhou-headquartered startup raises $578 million as investors continue to chase opportunities in the Chinese online car marketplace – providing they are private.

Does it make a big difference if a company is public or private in the same sector When it comes to automobile sales in the world’s most populous country, the answer for now appears to be a resounding 'yes'.

China's market for online car sales is currently in intriguing shape with valuations in the private sector soaring and public companies shedding value as investors pour billions of dollars into private auto trading platforms while selling off their listed counterparts.

The latest example is Souche. The privately held automobile trading app said on Monday that it had raised $578 million from a group of new...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222