Huhu Saving

About Huhu Saving

Huhu Saving, operating under Tianjin Huhu Digital Technology Co., Ltd., is a membership-based social e-commerce platform that entered the market in December 2017. The company positions itself as a service to “make consumption simpler and happier” for its users. The platform's core business model revolves around enabling its members to secure lower prices on a variety of goods and services through collective bargaining power. Huhu Saving's application facilitates this by allowing users to negotiate for the best deals, with the platform refunding the price difference to those who participate and share the application. This model is applied across a range of consumer needs, including purchasing event tickets, applying for credit cards, and topping up mobile phone balances. The company was established by a team of executives with extensive experience from major Chinese internet firms, including Baidu, Alibaba, Qihoo 360, and Sina. The Founder and CEO is Zou Mi (邹密), whose background includes significant roles at Qihoo 360. At 360, he served as the General Manager of Commercial Products for the news group and as an assistant to the Vice President of the national marketing group, where he was responsible for the commercialization of a wide array of products like 360 Security Guard, 360 Search, and 360 Mobile Assistant, managing annual revenues exceeding 5 billion RMB. This deep experience in monetizing internet products directly informs Huhu Saving's strategy. Joining him is Marketing Partner Cao Kai (曹凯), who was the founder and CEO of Douke Apartment and held senior marketing positions at firms such as Huiju Investment and Industrial Bank, bringing a wealth of experience in marketing, channel development, and agent management. The executive team also includes CTO Huang Wenjie, who holds a Master's degree in Artificial Intelligence and has a background as a data engineer at Alibaba and a technical director at Sina Leju. Huhu Saving operates in the competitive Chinese social e-commerce market, targeting consumers who are looking for value and savings in their daily expenditures. Revenue is generated through its membership system and partnerships with service and product providers. The company has successfully secured funding to fuel its growth, including a significant A-round financing of nearly 100 million RMB in September 2019, with investors such as Lvshou Group and Shunda Group participating. This investment underscores the market's confidence in the firm's leadership and its innovative approach to e-commerce.