Car300

Car300 (车300) is a Nanjing-based data services company that sits at the center of China's used-car pricing infrastructure. Founded by Xu Wei in late 2013, the company built its position by solving a narrow but critical problem: standardizing used-car valuation in a market where pricing had been essentially arbitrary . Xu, a data analyst by background who had studied the U.S. used-car market during time abroad, spent three years refining predictive models to narrow the gap between listed and actual transaction prices — pushing accuracy from rough estimates toward an 80-point threshold .

The business took off around 2015 when emerging used-car platforms like Guazi and Renrenche, staffed by young assessors who lacked traditional dealers' experience but were comfortable with digital tools, adopted Car300's data and spread it through high turnover . By 2018, the company claimed 70-80% market share among used-car transactions, with some 50,000-60,000 dealers nationwide using its product, and had expanded into auto finance with standardized risk-control products serving 500+ leasing and guarantee companies — all while remaining lean at roughly 200 employees and profitable .

Source Code Capital (源码资本) invested when Car300 was valued at ¥100 million; by late 2018 the valuation had reached ¥1.3 billion . Partner Xingshi Wang, who led the investment, described it as "a business that makes friends with time" — the more users feed data into the system, the more accurate it becomes, with the underlying data sources and generation process forming a moat that competitors struggle to replicate . The firm has continued to feature Car300 in its portfolio across multiple fund-raising and recruitment announcements .