(Yicai Global) March 4 -- Online car retailer Chehaoduo Used Automobile Agency Beijing has acquired Singapore-based car-sharing app company START, the Economic Observer reported online today, citing a company insider.

The source was unaware of the purchase price, per the report.

Chehaoduo Group, which made headlines in late February when it attracted USD1.5 million from Softbank's Vision Fund, is the operator of Guazi, an online peer-to-peer used-car trading marketplace and Maodou, a new car e-commerce emporium.

START, formerly known as iCarsclub, began operating in its home base of Singapore in May 2012 and in mainland China in August 2013.

Editor: Ben Armour