Uxin

Used-car e-commerceChina

New to Unitard

📉 Public < $1B

Peak $2.83 BillionRecorded estimate

~-77%

from peak

🦄
Became a unicorn
2016
📈
Peak valuation
$2.83 Billion ’18
💔
Became a Unitard
2019
💸
Last valuation estimate
~$651M

Current status

Listed on Nasdaq (UXIN)

The rise & fall

7 moments · 2011–2024

The key moments.

2011

Founded in Beijing

Kun Dai builds what becomes China's largest online used-car marketplace.

Wikipedia

2016

Joins the unicorn club

Nine-figure venture rounds fuel a race to consolidate China's fragmented used-car trade.

TechCrunch

Jun 2018

The peak: a $2.83B Nasdaq IPO$2.83B

Lists in New York at a market cap it has never seen since.

Nasdaq

2019

Losses meet a short-seller

Mounting losses collide with fraud allegations from a short-seller; the stock craters.

Reuters

2019

Slips out of the club

Barely a year after the IPO, the market cap falls below $1B — and stays there.

Macrotrends

2020

Rips out its own engine

A costly pivot away from loan facilitation — then the pandemic — batters revenue.

Wikipedia

2024

Superstores and a reverse split

Giant used-car superstores become the new story; after a reverse split the company trades around $0.6-0.7B, about a quarter of its IPO-day value.

YCharts

How it happened

Uxin was once China's largest online used-car marketplace, reaching a market capitalization of about $2.83B when it listed on Nasdaq in June 2018. Mounting losses, short-seller fraud allegations, a costly pivot away from its loan-facilitation business and the pandemic battered the stock; after a reverse split it has traded at roughly $0.6–0.7B — about a quarter of its IPO-day value — and has stayed well below the $1B unicorn line for years despite a turn toward used-car superstores.

Source: Macrotrends / YCharts / Nasdaq (China's largest used-car platform; June 2018 Nasdaq IPO at ~$2.83B peak market cap; sustained losses and a strategic overhaul; market cap ~$0.6–0.7B in 2024-25, long below $1B)