FangDuoDuo Wins 2016 Red Herring Global Top 100 Award

Red Herring, known for its focus on global innovation and technology companies, selects the most promising companies from around the world every year and issues awards to technology companies with great market potential in North America, Europe and Asia. Red Herring Global 100 has always been a highlight of Red Herring.

In the past decades, world-renowned companies such as Google, Facebook, and eBay and China's Alibaba and Baidu have received the awards. This time Shenzhen FangDuoDuo Internet Technology Co., Ltd., hereinafter to be referred as FDD, has won the award with the achievements it has made in business model innovation.

FDD breaks information barriers and solves users' problems

FDD is a mobile internet property transaction platform that was founded in 2011. Since its founding, FDD, as an O2O enterprise representative in the vertical field, has been sought after by many investment circles. FDD's impact in the traditional property transaction chain with its business model innovation, has sparked heated discussions in the industry.

The C-end users of the traditional second-hand housing market often complain about three things: first, they are unable to acquire true and efficient information; second, the broker's commission, which is 2% of the housing price, is way too high; and third, the services are of varying quality. To satisfy the users' needs, FDD initiated the "direct sale and direct purchase" model at the end of 2015. The model allows sellers and buyers to contact and trade without intermediary agents, which has broken the original information barrier. It adopts the lowest fee standard in the industry, helping C-end users save on trading costs. FDD has also provided a complete--process transaction service and a security guarantee to ensure user experience and transaction safety.

In spite of the traditional intermediary agencies that have deep roots in the industry, in just one year, FDD has positioned itself as one of the top five in this market with its "direct sale and direct purchase" model in Shanghai, Nanjing, Suzhou, Hangzhou and other places in China.

Improve transaction efficiency via mobile internet

With the "direct sale and direct purchase" model, FDD's per capita efficiency has improved significantly. The average trading volume for the service staff at FDD is 1-1.5 houses per month, which is nearly ten times that of the industry average.

To continue to improve user experience, FDD continues its online product iteration at the speed of one new version in every two weeks on the average. Besides user end products, FDD is also constantly improving its backstage support products and the collaboration efficiency of different service roles on the platform.

Moreover, FDD is improving its precision in matching houses and customers by analyzing the user behavior data accumulated on the platform, which has shortened user transaction time and further improved the efficiency of the platform.

In the future, FDD will pursue a "platform+data" business model. Duan Yi, founder of FDD, said, "Data is the future. After years of accumulating, big data will provide a solid and reliable base for optimizing user experience. The integration of real estate and the mobile internet is still in the beginning stage and the real big data era has just started." When the mobile internet is combined with the traditional industry with trillions of yuan and the power of "platform+data" is further released, FDD will face an even larger market in the future.

Photo - http://photos.prnewswire.com/prnh/20161118/441064

SOURCE Shenzhen FangDuoDuo Internet Technology Co., Ltd.