Guazi, which already counts Shougang as a backer, is in negotiations with SoftBank Vision Fund over an investment that will value it at $8.5bn pre-money.
Vision Fund, the $98.6bn investment fund managed by telecommunications group SoftBank, has begun discussions to invest up to $1.5bn in China-based automotive e-commerce platform Guazi.com, Reuters reported on Saturday.
The information was disclosed by two people with knowledge of the matter, one of which told Reuters the deal is set to value the company at $8.5bn pre-money. Vision Fund has also been in talks with one of Guazi’s key rivals, Renrenche.
Also known as Chehaoduo, Guazi runs an online marketplace…
