The three parties that make up this new company are Ali, which has 140 million car owners' data. It is said that it is currently the largest online car owner traffic platform in the country; the other is the superman supply chain section of Jingu shares, which is in the supply chain and auto service stores. SAAS, store integration and car owner service areas have industry advantages; one is Kangzhong Auto Parts, which has more than 500 directly-operated auto parts stores nationwide and a mature supply chain system.
From online traffic to offline terminals, and the most difficult supply chain for automobile service to standardize, this merger seems to be in place in one step. The new company has not hesitated to play the banner of "China's largest auto service support system", and plans to use the direct supply of spare parts brand, warehouse distribution system, new retail and store SaaS system, customer-centric, supply chain-centric, and Alibaba's advantages Resources empower all maintenance companies. The certified terminal will be awarded the "Tmall Station" brand by Tmall.
It is reported that the new company will launch new retail auto service stores in September, with the goal of upgrading 30,000 “Tmall stations” within 5 years.
Not only is the background bright and large, the valuation of this new company is also quite amazing. Alibaba brought 1.6 billion yuan in cash (or equivalent U.S. dollars) to enter the venue, and will grant the new company Taobao and Tmall the exclusive right to operate the corresponding after-car service categories (excluding auto supplies). According to the tripartite agreement, Ali will hold approximately 46.97% of the equity in the joint venture company, making it the largest shareholder of the new company. Teweilun will hold approximately 16.27% of the equity of the joint venture company and will become the second largest shareholder of the joint venture company. The other shareholders together hold approximately 36.76% of the equity of the joint venture company. Shang Baoguo, the former founder and president of Kangzhong, served as the first CEO, and Cai Yongzhi, head of Tmall automotive aftermarket, served as COO.
If estimated by Ali’s capital contribution and shareholding ratio, the new company is valued at about 3.5 billion yuan. In fact, the company has introduced well-known investors including Warburg Pincus and Yunfeng since its establishment. According to sources close to the new company, this The scale of the round of financing should be more than 1 billion yuan, and the overall valuation of the new company is at the tens of billions level.
Since the Internetization of the trillion-dollar automotive aftermarket, everyone believes that a company with a valuation of 10 billion will be born here. However, in the past eight years, there has been only one unicorn, Tuhu, with a valuation of US$1.185 billion. This new company was valued at tens of billions as soon as it was established, which shows Ali's determination in the field of auto service.