Uxin
Used-car e-commerceChina
New to Unitard
📉 Public < $1B
Peak $2.83 BillionRecorded estimate
~-77%
from peak
- 🦄Became a unicorn2016
- 📈Peak valuation$2.83 Billion ’18
- 💔Became a Unitard2019
- 💸Last valuation estimate~$651M
Current status
Listed on Nasdaq (UXIN)
The rise & fall
7 moments · 2011–2024The key moments.
2011
2011
Founded in Beijing
Kun Dai builds what becomes China's largest online used-car marketplace.
Wikipedia
2016
2016
Joins the unicorn club
Nine-figure venture rounds fuel a race to consolidate China's fragmented used-car trade.
TechCrunch
Jun 2018
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
2019
Losses meet a short-seller
Mounting losses collide with fraud allegations from a short-seller; the stock craters.
Reuters
2019
2019
Slips out of the club
Barely a year after the IPO, the market cap falls below $1B — and stays there.
Macrotrends
2020
2020
Rips out its own engine
A costly pivot away from loan facilitation — then the pandemic — batters revenue.
Wikipedia
2024
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)
Founder
- Kun DaiFounder, Chairman & CEONo public profile matched
