www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Technology

Chinese app 5miles marks its anniversary with $30m funding

By Paul Welitzkin (China Daily) Updated: 2016-01-28 11:24

Chinese-developed app eyes expansion to more cities in the US

A Chinese-developed challenger to Craigslist and Wallapop has secured $30 million in new funding as it celebrates its first year in business this month.

5miles is a Dallas- and Beijing-based mobile-app startup that has more than 5 million users, averaging 30,000 downloads a day.

Its goal is to become a major factor in local classified advertising, an area dominated by Craigslist.

"5miles is a community and not just a marketplace," Liang Lu, founder and president, said in an interview on Tuesday. "We will use this funding to expand to other US cities."

5miles currently serves Austin, Dallas, Houston and San Antonio in Texas and also Miami, Florida, and Oakland, California.

Lu is a native of Luoyang in Henan province. After attending college in China, he moved to the United States, where he gained a graduate degree in 2005 from Southern Methodist University in Dallas.

He then worked in a series of technology- and e-commerce-focused positions with BlogDrive.com, LightInTheBox and Alibaba Group Holding Ltd.

"At Alibaba, I was exposed to mobile and e-commerce applications," Lu said.

In 2014, he noticed that mobile penetration was growing rapidly in the US and Europe.

"I studied Craigslist and decided to do a similar business," he said.

Craigslist features free online merchandise listings but charges a fee for job listings, apartment-rental offerings and automobile ads in certain cities. Many observers believe Craigslist played a big part in making the classified advertising sections of US newspapers obsolete.

Lu said 5miles is different from Craigslist in that it is mobile-based and offers a more service-oriented product.

"We enable you to take advantage of your smartphone and communicate with pictures, words, GPS and social media and instant messaging instead of relying on e-mail," he said.

"We verify users with a valid e-mail, phone number and Facebook account," Lu said. Clients will also be able to access reviews on a user.

Buyers are not allowed to sell pets, weapons or pharmaceuticals on 5miles, said Lu.

It does not charge buyers or sellers a fee and earns revenue from online advertising.

Investors in 5miles include venture capital funds like Blue Lake, IDG, Morningside and SIG-China (part of the Susquehanna Investment Group).

In addition, individuals with ties to Alibaba and eBay Inc have invested in the company.

"Right now we use the latest funding to focus on US expansion," said Lu.

"If that goes well, we will then look at Europe and maybe Brazil. We are letting Alibaba work on a China application."

5miles has 15 marketing and administration employees in Dallas, and its Beijing office has 30 employees working on engineering and product development.

The latest financing brings total investment in 5miles to more than $50 million. In its first year, 5miles gained 4 million users and generated $1 billion in gross merchandise volume.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产真实女人一级毛片 | 国内成人自拍视频 | 最新国产午夜精品视频成人 | 国产一区二区三区在线观看精品 | 欧美日韩国产58香蕉在线视频 | 超级碰碰碰视频视频在线视频 | 欧美成人免费高清二区三区 | 成年人免费黄色片 | 欧美成人精品大片免费流量 | 国产精品莉莉欧美自在线线 | 日韩免费精品一级毛片 | 免费毛片全部不收费的 | 三级手机在线观看 | 国产一级在线观看视频 | 毛片在线网站 | 国产成人一级 | 日韩欧美不卡一区二区三区 | 亚洲欧美在线综合一区二区三区 | 狠狠色狠狠色综合久久一 | 午夜精品视频在线观看美女 | 色老头久久久久 | 国产国产人免费人成成免视频 | 72种姿势欧美久久久久大黄蕉 | 欧美理论在线 | 亚洲图片 自拍偷拍 | 18在线| 日本一在线中文字幕天堂 | 欧美美女网站 | 一本三道a无线码一区v | 中文字幕在线观看一区二区三区 | 91老色批网站免费看 | 韩国福利影视一区二区三区 | 国产精品久久毛片 | 亚洲精品久久久久久久久久久网站 | 亚洲成av人片在线观看 | 在线男人天堂 | 99热精品在线观看 | 91福利国产在线观看香蕉 | 日日操干 | 久久国产毛片 | 国产第一区二区三区在线观看 |