Oct 23, 2014 06:21 PM

Investors Kick Tires on Auction Websites for Second-Hand Cars

By staff reporter Zhu Shiyun and Nan Hao

(Beijing) – An auction website for used cars recently got US$ 260 million in its latest round of fundraising, something of a surprise for the second-hand auto industry.

The company, Youxinpai.com, said on September 16 that it got the money from investors that included Warburg Pincus, a leading global private equity investment institution, and Tiger Global Management.

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