The SoftBank Vision Fund is in late-stage negotiations to invest up to $1.5bn in Guazi, one of China’s largest used car trading sites, in a deal that would value the five-year-old start-up at $8.5bn.
According to people informed on the talks, a deal between the SoftBank Vision Fund and Guazi may be announced within the next few weeks.
The deal would be the second time that Softbank’s Vision Fund has backed a used car platform, having invested €460m into Germany’s Auto1 last year at a valuation of €2.9bn, though the business models between the two companies are different.
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