Qdillion Joonggonara, a developer of the second-hand goods dealer platform, Joonggonara, acquired a used car dealing startup called HiOwner.
HiOwner was established in 2016 and obtained 300,000 downloads and 800,000 users in a year.
HiOwner offers a dual filtering system which prevents false offerings and damaged vehicles through internal computer networks and offline corporate partners. It also provides a live chatting feature with which customers and dealers can video call each other on the app. This is a specialized function for the used car dealing sector.
Joonggonara, a platform with over 1.7 million visitors a day, choses mobility for the next market to create a synergy effect with its own platform and gradually constructs infrastructures for used car dealing businesses from this year.
Last April, dealers who got through the five-stage examination program called Q5 (Quality 5) including career evaluations, interviews, and due diligence, qualified as Joonggonara verified used cars dealers. Every month 15,000 used cars are introduced on its service, which receives 2,200,000 visits.
A service called Joonggonara Sells Your Car was released last August, after which dealers specializing in buying can suggest the highest price to customers. 6,085 cars were handled in 100 days (or 61 cars a day) after its launch, which is double the amount of the biggest company in Korea whose number of cars dealt per day is 26.
Qdillion Joongonara obtained great professionals in used car market, as they acquired HiOwner and now are preparing to become the leading startup in the used car industry. Joonggonara’s tech team is also improving, so that their easy and safe commerce platform can be expanded to the entire second-hand goods industry, not only used cars.
Sangyoon Kim, CEO of HiOwner, stated “We are pleased to move forward with the largest second-hand goods platform in Korea to make a transparent and fair second-hand goods market. By combining the platform operation experiences of Joonggonara and the mobile technical skills of HiOwner, we will demonstrate customer-driven services, one by one.”
Seungwoo Lee, CEO of Qdillion Joonggonara, mentioned, “We want the used car industry to become sustainable and beneficial to both customers and dealers, and to be firmly based on sufficient trust and technology. We will strengthen the technology sector to build a commerce platform that sellers and buyers trust and utilize.
(Top photo from Baidu Images.)
This article, entitled “Second-hand goods sales platform Joonggonara acquires used car startup HiOwner”, was written in Korean by Platum, edited by AllTechAsia.