Aiwujiwu
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Aiwujiwu provided online property listings and related real-estate services in China.
02 / Aiwujiwu FAILURE REASONS
Failure factors supported by the current evidence
Capital-funded expansion prioritized market growth before the business had established a sustainable path to profitability.
Capital-funded expansion prioritized market growth before the business had established a sustainable path to profitability.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
Aiwujiwu entered liquidation.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In February 2019, Aiwujiwu appeared to have gone into liquidation: its official website was replaced by information about a new apartment rental app, its mobile app displayed an error message when opened, and its officially registered office was found not to exist.
- 02
Blue-chip investors including Hillhouse Capital, Temasek Holdings, Shunwei Capital, Morningside Ventures, GGV Capital, and Banyan Capital faced losing hundreds of millions of dollars as the self-proclaimed unicorn collapsed.