INNOVATION AT YOUR FINGERTIPS
Updated: 08/2018
Xiangwushuo
China / Shanghai , China
Pitch
Five-month-old startup Xiangwushuo, a second-hand goods trading platform on WeChat, is already valued at US$250 million.
Why
Abundance of used goods
Many Chinese people want to pass along used goods rather than throw them out.
Current trading platforms inefficient
Most second-hand trading platforms require bargaining; sometimes it takes months to find a suitable buyer.
Market
80 million
Forecast number of Chinese second-hand goods traders by 2020.
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