Lianjia
链家
Lianjia is a Chinese real-estate services group founded by Zuo Hui, who served as its chairman until his death in 2021 . Source Code Capital, which repeatedly listed Lianjia among its portfolio companies from 2015 onward, described the group as a "service e-commerce" player alongside Meituan and Mogujie .
In a 2017 talk at Source Code Capital's Code Conference, Zuo framed Lianjia's business around three pillars: a trading platform that supplies liquidity to the property market, the Ziroom (Ziru) self-managed rental operation, and real-estate finance . At that time the network already encompassed roughly 150,000 agents, whom Zuo characterized as "customers and products" rather than conventional employees, organized through what he termed a "broker cooperation network" .
By 2018, Lianjia had launched the open-platform Beike Zhaofang (贝壳找房), with Zuo shifting to the role of founder and chairman of the new platform . Beike's model, as described in Source Code Capital's 2020 coverage of its IPO, rested on "two networks"—a data-driven online operation and an offline store network—underpinned by the ACN (Agent Cooperation Network) system to coordinate brokers across brands .
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Coverage
AI in China: 10 Enterprise Deployment Cases and Their Business Implications | A Conversation with Ren Xin: AI Entrepreneur and Investor
Over the past six months, Ren Xin and I have been immersed in AI day in and day out, and we've observed ten real-world AI application stories.
AI in China ①: 10 Enterprise Deployment Cases and Their Business Implications | A Conversation with Ren Xin: AI Entrepreneur and Investor
Goodbye to a Decade of Venture Capital | Waves' Second Anniversary
Keep moving forward. Don't look back.
The 5 Most Thought-Provoking Articles I Read in 2023
A new year, and I've decided to reopen my WeChat Official Account and start writing again. First, to share what I've seen and what I've been thinking about. Second, to use writing as a way to push myself into more systematic reflection. Third, to meet new people through it.
In Deep Mourning
Surging 200% on Day One, Peak Market Cap of $9.2 Billion | Oasis Vitality
Oasis Capital Celebrates Its First IPO
Yi Cao, Source Code Capital: "Four-Have Youth" — What Good Companies Look Like in the Second Half
A good company needs principles, systems, tactics, and tools.
Peng Yongdong: What Is Strategy? | Code Meet 2019
"Knowing Capital, Acting Deep" — At Source Code Capital's 2019 Ma Hui annual meeting, KE Holdings CEO Stanley Peng was invited to share his thinking and practice on the essence of strategy.
Source Code Capital Closes $570 Million New Fund
Create lasting, real value
Yi Cao of Source Code Capital Named to 2019 Forbes Midas List
Create Lasting, Real Value
Source Code Capital Wins Five Awards Including Zero2IPO's 2018 Top 50 China VC Firms
Create Lasting, Real Value
4 Companies Close Funding Rounds, 8 Undergo Strategic Upgrades, Multiple Firms Named "2018 King of New Economy" | Source Code Capital Monthly · November
"Ma Hui Journal" is where we document our team's small steps forward, share the joy of growth, and look ahead to an even brighter future.
Six Companies Upgrade Strategies, Meituan's Xiaoxian Fresh Expands Into Offline Grocery Retail | Source Code Capital Monthly · May
【Source Code Capital Chronicle】A record of our team's small but meaningful steps forward, celebrating growth, and looking toward an even brighter future.
The Fourth Annual Ma Hui Conference Successfully Held, CEOs Gather to Share Entrepreneurship Insights, Four Companies Announce Completed Financing Rounds | Ma Hui Journal · April
**Source Code Capital Newsletter:** Here we record the small steps of progress made by our team members, share the joy of growth, and look forward to an even brighter future.
Lianjia's Zuo Hui: The Changing and Unchanging Real Estate Market
Decoding the Future of the Real Estate Market
5 Companies Raise Funding, Several Make China's Top 100 Unicorns List | Code Meet Journal · March
【Source Code Capital Chronicle】A place to record the small steps forward of our team members, share the joy of growth, and look toward an even brighter future.
Two Acquisitions Completed, Six Companies Strategically Upgraded: Lianjia Pushes Into Franchise New Track | Code Club Magazine · February
【Ma Hui Journal】A place to record the small steps forward, share the joy of growth, and look ahead to an even brighter future.
6 Companies Close Funding Rounds, 2 Make Latest Global Unicorn List | Source Code Capital Monthly · January
【Ma Hui Journal】A place to record the small steps forward, share the joy of growth, and look toward an even brighter future.
Ma Hui: Entrepreneurs' 2017 and 2018
The Founder's New Year's Intellectual Marathon
Source Code Capital 2017: The Year of Establishing Our Footing
Never Settle
ByteDance Named World's Strongest AI Startup by CB Insights, Six Companies Announce Business Upgrades | Source Code Capital Briefing · December
【Source Code Capital Journal】Here we record our teammates' step-by-step progress, share the joy of growth, and look forward to an even brighter future.
Four Global Unicorns Make the List, One Files for IPO, Two Raise New Funding | Ma Hui Monthly · September
**Source Code Capital Chronicle** — documenting the small steps of progress among our community, sharing the joy of growth, and looking forward to an even brighter future.
Source Code Capital Wins Three Awards Including Top Investment Institution and Investor in China's New Finance Sector
Leading new-finance companies include: Qudian, Yongqianbao, INK Group, Suishou, Nongfenqi, Cijinrong, and Ether Capital.
Lianjia's Zuo Hui: My Understanding of the Real Estate Industry | 2017 Code Conference
At Source Code Capital's 2017 Code Conference, Zuo Hui, chairman of Lianjia, shared the company's perspective and understanding of the real estate industry.
Source Code Capital Announces Successful Close of Fund III to Help Tech Companies Create Lasting, Real Value
Source Code Capital founder Yi Cao announced at today's "Ma Hui" opening ceremony that the firm has completed the final closing of its third USD fund at $260 million and the first closing of its third RMB fund at 1.5 billion yuan.
Hongjiang Zhang Joins Source Code Capital as Venture Partner
Source Code Capital announced today that Hongjiang Zhang, former CTO of Microsoft Asia-Pacific R&D Group, former president of Microsoft Asia Engineering Institute, and former CEO of Kingsoft, has joined the firm as a Venture Partner.
Source Code Capital was ranked among China's Top 50 Best Venture Capital Firms, Top 20 Best Foreign Venture Capital Firms, and Top 10 Best Investment Firms in Tech Finance for 2016.
Source Code Capital ranked 50th on ChinaVenture's 2016 "China's Top 100 Best Venture Capital Institutions" list and 20th on the "China's Top 50 Best Foreign Venture Capital Institutions" list, and was named one of the top ten best investment institutions in China's tech finance industry for 2016.
Cijinrong Announces Completion of 65 Million Yuan Series A Funding Round Led by Source Code Capital
Cijinrong has raised RMB 65 million in its Series A funding round, led by Source Code Capital, with Matrix Partners China and Yunqi Capital — both investors from its angel round — participating. The proceeds will be used primarily for team expansion, employee training, and product and technology refinement.
Yi Cao: Inclusive Finance Enters an Era Where "Internet Plus" and "AI Plus" Work in Tandem
"New finance" is an even bigger opportunity than social media, search, e-commerce, O2O, and what came before.
World Internet Conference Opens; Source Code Capital Named New Investor of the Year
Source Code Capital was named to the "Top 30 Emerging Investment Firms of 2016" list in Wuzhen.
Source Code Capital Launches 2017 Campus Recruitment
On November 3, we'll be waiting for you at Tsinghua University's PBC School of Finance.
Yi Cao: "Internet Plus" Has Run Its Course — The Next Waves Are "Intelligence Plus" and "Global Plus"
The "Internet Plus" initiative is entering its final handover phase.
Yi Cao Named to ChinaVenture-FT China Top 100 Investors of the Year 2016
On August 15, 2016, ChinaVenture held its "2016 China Investment Annual Conference" in Shenzhen, where it also released the "ChinaVenture 2016 Best Chinese Investors" list.
Yi Cao of Source Code Capital topped Cyzone's "40 Under 40 Investors" list.
On May 11, 2016, Cyzone released its "40 Under 40 Investors" list, with 32-year-old Yi Cao of Source Code Capital becoming the youngest person ever to top the ranking.
Source Code Capital Named to 2015 China Best Foreign Venture Capital Firms Top 50
From April 11 to 13, 2016, ChinaVenture hosted the "2016 China Investment Annual Conference" in Shanghai, where Source Code Capital was named to the "2015 Top 50 Best Foreign VC Firms in China."
