Why it matters: Fangdd’s IPO filing highlights the shifting Chinese tech landscape to business-facing from consumer-facing services in an effort to offset slowing rates of domestic consumption.
Details: Fangdd expects to use the proceeds to enhance research and development capabilities, to invest in technology and sales, marketing, and branding, as well as for working capital and other general corporate purposes.
Context: Founded in 2011, the Shenzhen company provides SaaS-based solutions to real estate agents in China for managing customers, property listings, capital, and transaction data to solve the inefficiencies of traditional offline property agent services market.
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