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Stock impact report

TuanChe Limited Announces Strategic Partnership with Tmall Auto

TuanChe Limited - American Depositary Shares (TC) 
Company Research Source: GlobeNewswire
BEIJING, Oct. 21, 2019 (GLOBE NEWSWIRE) -- TuanChe Limited ("TuanChe" or the “Company”) (NASDAQ: TC), a leading omni-channel automotive marketplace in China, today announced that it has signed a strategic partnership with Tmall Auto, the automotive arm of Alibaba Group’s (NYSE: BABA) Tmall, China's largest e-commerce platform for brands and retailers. This partnership will further enable both TuanChe and Tmall Auto to collaborate and explore additional growth opportunities along China’s automotive transaction value chain. As part of the agreement, Tmall Auto will work with TuanChe to integrate its online resources, e-commerce infrastructure, and big data analysis capabilities with TuanChe’s pervasive national coverage and proven track record managing offline automotive operations and sales events. Both companies also plan to jointly integrate a new data-driven, smart, online-to-offline automotive transaction service while further expanding each other’s customer bases and enhancing Show less Read more
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