Zhaoliangji.com

About Zhaoliangji.com

Zhaoliangji.com, operated by its parent company Shenzhen Wanshifu Technology Co., Ltd., established a significant presence in China's second-hand electronics market. Founded in 2011 and officially launched in December 2015 by Wen Yanjie, the company specialized as a business-to-consumer platform for refurbished mobile phones and other electronics. It functioned as an online e-commerce marketplace, providing consumers with access to pre-owned smartphones and tablets that underwent a rigorous, multi-stage inspection process covering both functionality and appearance. To build consumer trust in the second-hand market, the business offered detailed product descriptions, images, and an inspection report for each device, complemented by extended warranties and a seven-day return policy.

The company's business model focused on ensuring quality and reliability in a market segment often perceived with skepticism. By creating a standardized and transparent process, Zhaoliangji.com catered to a growing consumer base in China interested in used goods. The platform's revenue was generated through the sale of these refurbished electronics. Its growth trajectory was supported by substantial venture capital funding, raising a total of $12.6 million over three rounds. Key funding milestones include an angel investment in May 2017, a Series A round in November 2017, and a Series A+ round in July 2018, which raised $11.1 million, with investors such as Plum Ventures, Cyanhill Capital, and Oriental Fortune Capital participating.

A pivotal moment in the company's history occurred on May 7, 2020, when it was acquired by Zhuan Zhuan, a major online used goods trading platform backed by 58.com. The acquisition, valued at approximately $50.7 million, was a strategic move by Zhuan Zhuan to solidify its position in the used cellphone vertical, which is the third-largest category in China's second-hand market. Following the merger, Zhaoliangji's team and its offline inspection centers were integrated into Zhuan Zhuan's operations to create a more efficient and scaled ecosystem covering C2C, B2C, C2B, and B2B models for used electronics.