Wen Leju Finance and Economics Yan Ming Association
In 2015, an advertisement starring Wang Han of "Tuba Rabbit on Decoration" quietly occupied all corners of buses, subways, elevator rooms, etc., and the catchy advertising slogan successfully occupied the minds of users, and the brand of Tuba Rabbit quickly entered the public eye.
Behind the crazy marketing is the blessing of capital and financial resources. This year, Tuba Rabbit received $200 million from 58.com, Sequoia Capital, and Jingwei investors, becoming the single largest financing in the field of pan-home improvement e-commerce. Tuba Rabbit has also become a recognized Internet home improvement head brand.
At the time, Wang Guobin, the founder of the unicorn company, was only 33 years old.
In August 2018, with the ambition of becoming the "No. 1 Internet Home Improvement Stock", Tuba Rabbit officially launched an offensive to the capital market and began to sprint for IPO. However, this has also become the starting point of the "twists and turns" of Tuba Rabbit's listing road. In the following 4 years, Tuba Rabbit has been defeated repeatedly, and the 5 IPOs it has experienced have all ended in failure.
Tuba Rabbit can be said to be Wang Guobin's third venture. Born in Fuzhou, Jiangxi Province in 1982, he has been fond of literature since childhood. After graduating from junior high school, he went to a local normal school, and dreamed of one day conquering the Chinese literary scene with his amateur writing and accumulation.
But the first work after going to school was defined as plagiarism by the president of the school's literature club, for the simple reason that "hillbilly ** can write articles with that kind of skills". For this reason, Wang Guobin cried bitterly for three days, and the literary dream of a rural youth was shattered.
Subsequently, Wang Guobin set his sights on the cutting-edge computer field at that time. When he was 18 years old, he started with 30,000 yuan in his hometown of Lichuan County, and soon made a computer training school with thousands of students, and earned the first pot of gold in his life.
Wang Guobin, who tasted the sweetness, also began to seek diversification, in addition to opening a computer training school, he also ran a restaurant, a decoration company, a computer sales company and an advertising company, and earned 10 million yuan at the age of 23.
In 2005, with the rise of the Internet wave, the mainstream of the whole China is discussing the future of the Internet, and "the story of the founder of the Internet company starting from scratch, achieving a 10 billion market in a few years, and going to the United States to go public" has become a happy story.
Under the strong information impact and contrast, 23-year-old Wang Guobin decided to leave his hometown in Jiangxi and go to Shenzhen, and founded an Internet search engine company, which opened the first batch of research and development of search engine technology in the field of vertical life in China.
However, due to the excessive pursuit of technical perfection, the front line was too long, and the commercial value was ignored, and in less than 6 months, Wang Guobin threw all the 40 million he had worked hard to earn into it, and the business died.
In July 2008, Wang Guobin made a comeback, returned to Nanchang and registered a company with his own network domain name Tubatu, Tuba Rabbit, this time he gave up the search engine that had proven to fail, and was determined to make a "renovated version of **".
As an early entrant in Internet home improvement, Tuba Rabbit was established to catch up with the Internet wave, so it was favored by capital. From 2011 to 2015, Tuba Rabbit has carried out three rounds of financing, and in 2015, which is known as the "first year of Internet home improvement", it completed the C round of financing.
In August 2018, Tuba Rabbit submitted its listing application to the Hong Kong Stock Exchange for the first time, but only four months later, Tuba Rabbit withdrew its listing application. By July 11, 2022, Tuba Rabbit, which has hit the market five times, once again voluntarily withdrew its listing application, officially announcing the end of the four-year-long listing road.
In the current shareholding structure, except for the founder Wang Guobin, he holds 4906% of the shares, is the largest shareholder, Pourla VieLimited holds 2059 shares are the second largest shareholder, and Sequoia China holds 149% of the shares are the third largest shareholder, and 58.com holds 10% of its shares and is the fourth largest shareholder. 
In fact, in the past few years of impacting the capital market, Tuba Rabbit's reputation has not been good.
Leju Finance checked and found that on December 16, a consumer just complained on the black cat complaint platform that he signed a decoration contract with Tahoe Decoration in December 2021 and paid on the Tuba Rabbit platform, and as of December 6, 2023, the decoration company has not completed the project and does not cooperate with the delivery under various excuses.
Tuba Rabbit did not give a solution, favored the decoration company, complained on the Tuba Rabbit platform and was forcibly closed by Tuba Rabbit staff, and did not give a treatment plan. Tuba Rabbit is now required to return the unpaid balance on the platform. ”
In this month, there are also a number of consumers who complained about problems such as "the acceptance of the recommended decoration company platform is not in place", "the decoration of the house on the Tuba Rabbit decoration platform is cracked, and the payment platform on the platform is delayed". As of December 18, the number of complaints on the Black Cat complaint platform is 310, 310 have been replied to, and 282 have been completed.
According to Tianyancha data, up to now, Tuba Rabbit has been involved in a total of 719 judicial cases, of which 151 cases are disputes over decoration contracts.
Related Company: Tuba Rabbit.