OLX is playing a significant role, commanding over 85% market share in the online classifieds market in India. Today, used cars are the biggest segment of consumer transactions at OLX and as per the industry.
Miaozou and Didi have partnered together for several years to offer trips to the airport and will now boost their efforts to bring more mobility services to consumers. According to Didi this will make rides faster, cheaper, and more reliable.
The company is trying to bring insurance to more consumers and make the process of getting insurance easier. They claim the insurance will have sales support to help with purchasing and claims assistance.
"The auto industry in China is set to become the largest in the world. As the average life of cars on the road continues to increase, the $180 billion-plus automotive aftermarket will continue its strong growth," said Chen "Alex" Xi, Haoqipei Founder and CEO.
Digvijay Singh, COO IAN said, “IAN’s investment in Spinny was driven by the belief in the founding team’s vision and expertise, as well as its business model. With this exit, IAN investors are reaping the dividends of their faith in this high-potential venture, led by a team focused on execution in the auto space."