Company Overview

Went Public on Oct 31, 2013
Software, Internet, Curated Web
58 city is a Chinese classified ads site allowing users to browse and put goods up for sale, rent, seek co-operation and make friends.

Detailed Description

Update 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. 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., 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, has set up branches in 32 cities with 6500 full-time staff. To date, 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, provides free, localized and credible information for voluntary users.

As of June 2011, 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, is ranked the first among local life service websites. faces stiff competition from and

Current Team (9)


Funding Rounds (6) - $876.8M


Investors (3)

  • 7c9d2e0ab2e1d753b382907e36d6019b

    Warburg Pincus

    Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm...
  • 6d1b5d29adb9a24cb481dccf1fba7876

    SAIF Partners

    PE/VC in China & India
  • Cenbj937r9kznarywjz7


    DCM is an early stage VC empowering the global ambitions of inspired entrepreneurs

Offices/Locations (1)

  • Headquarters

    Room 1105, Changxin Building 39

    Chaoyang, 100029


Images (1)

  • F261ba47fb7a71063f06acf1ca1e6293