|Post IPO Valuation|
|Series B, 5/2008 |
|Venture Round, 4/2010 |
58.com is a classified advertisements website serving local merchants and consumers.
As the leading online classified advertising company in China, the company’s platform addresses individuals’ and small businesses’ needs to publish information and advertise their service offerings in local communities. 58.com also offers a package of services for business partners. The package includes target consumer group identification, services and products advertising, effective online marketing service and customer relations management. Its aim is to provide a forum for the low income and jobless group.
58.com, founded in December 12, 2005 and headquartered in Beijing, is basically China’s for-profit version of Craig’s List in the United States. As of November, 2010, 58.com has set up branches in 32 cities with 6500 full-time staff. To date, 58.com has received $25 million in funding as investments from Softbank Asia Infrastructure Fund (SAIF) Partners and DCM. It began trading on the New York Stock Exchange on October 31, 2013.
As the biggest online classified publisher, 58.com provides free, localised and credible information for voluntary users.
As of June 2011, 58.com claimed to have 50 million registered users. The site’s user base continues to grow with more than 50,000 new users added per day. The number of page views per unique visitor per day is 10 with 1 million posts per day. Due to its increasing website traffic volume and number of unique visitors and page views, 58.com is ranked the first among local life service websites.
58.com faces stiff competition from Ganji.com and Baixing.com.