What is 5miles? 5miles Review

introduce

5miles was founded in 2014 by Lu Liang, the former CTO of LightInTheBox. It is headquartered in Dallas, USA and Beijing, China. It officially entered the US market in January 2015. After one year of development, it has more than 5 million US users and has long been ranked among the top ten e-commerce categories in the US Android and IOS markets.

Founder Introduction

Lu Liang, former CTO of LightInTheBox, founder of 5miles, and current CEO of 5miles.

In 1996, he graduated from the Department of Modern Physics of the University of Science and Technology of China, and in 2005 he received a Ph.D. in physics from Southern Methodist University in the United States.

He served as CTO of LightInTheBox, restructured the technical architecture, and helped LightInTheBox go public on the New York Stock Exchange in 2013, becoming the first Chinese foreign trade e-commerce company listed in the United States.

Lu Liang once worked for Taobao. He was the first general manager of Taobao Mobile and the general manager of Wasu Taobao (joint venture) (later repurchased by Alibaba).

Meaning of the name

5miles, as the name suggests, does not conduct second-hand transactions based on a certain user group or relationship, but simply pushes second-hand goods within 5 miles to users based on their geographic location.

Mode Introduction

5miles is positioned as the overseas "58.com + Taobao". As an information and transaction platform, it connects individual sellers and buyers, mainly for second-hand goods transactions. 5miles' products do not make second-hand transactions based on a certain user group or relationship, but simply based on geographic location, push second-hand goods within 5 miles to users, and transactions can only be made in person.

develop

The monthly transaction volume in December 2015 exceeded 81 million US dollars.

In 2016, 5miles was successfully shortlisted as one of the top ten mobile e-commerce platforms in the United States, becoming the only Chinese company among the US mobile e-commerce platforms.

In 2016, the total transaction volume exceeded US$3 billion.

In 2017, 5xlab, a subsidiary of the well-known American company 5miles, officially launched the smart business contract blockchain CyberMiles (CM for short).

In January 2017, 5miles ranked among the top ten e-commerce platforms in the United States released by the authoritative monitoring platform Similar Web.

In February 2017, 5miles had 11 million users and 2 million monthly active users.

In 2017, 5miles generated more than $3 billion in transactions and is one of the most popular shopping apps on Android and iOS.

Financing

In 2014, 5miles completed a multi-million dollar Series A financing round led by SIG Asia.

In 2016, 5miles received a US$30 million Series B+ financing led by Sanren Capital, Blue Lake Capital and other funds.