Alibaba Invests Undisclosed C1 Round In Chinese Mobile Phone Recycling Firm Huishoubao

Shenzhen-based mobile phone recycling firm Huishoubao has raised an undisclosed series C1 strategic round from Alibaba Group Holding Ltd., according to Chinese media report. Huishoubao plans to use the proceeds in technology investment, after-market layout and organizational capacity building. It will also further cooperate with Xian Yu, a used goods marketplace and social network created by Chinese e-commerce giant Alibaba’s Taobao brand. Founded in 2014, Huishoubao focuses on recycling mobile phones, iPads and other digital gadgets through O2O (online-to-offline) channels …

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