What is 58.com?
Founded in 2005 and headquartered in Beijing, 58.com operates Chinas largest online classifieds marketplace. The platform serves as a crucial digital hub connecting local businesses and consumers for information sharing and commerce. Its extensive user base, merchant network, and vast database of local information have fostered a powerful network effect, solidifying its leadership position in the industry. The company has a history of significant investment rounds, indicating a consistent drive for expansion and market dominance.
How much funding has 58.com raised?
58.com has raised a total of $1.1B across 7 funding rounds:
Series A
$5M
Series B
$5.8M
Other Financing Round
$15M
Series C
$60M
Series D
$55M
Stock Offering
$187M
Share Placement
$736M
Series A (2006): $5M with participation from SAIF Partners
Series B (2008): $5.8M led by SAIF Partners
Other Financing Round (2010): $15M supported by SAIF Partners and DCM Ventures
Series C (2010): $60M featuring Warburg Pincus
Series D (2011): $55M backed by Warburg Pincus
Stock Issuance/Offering (2013): $187M, investors not publicly disclosed
Share Placement (2014): $736M led by Tencent
Key Investors in 58.com
Warburg Pincus
Warburg Pincus is a leading global private equity firm renowned for its expertise in growth investing. They focus on identifying and nurturing opportunities across diverse industries and regions, combining strategic insight with operational support to create enduring value.
Tencent
Tencent Holdings Limited provides internet and mobile services, and online advertising services internationally, offering a wide range of digital services including games, applications, and instant messaging.
SAIF Partners
SAIF Partners is a prominent private equity firm specializing in providing growth capital to companies in China or with significant operations in the region, focusing on sectors like internet+, TMT, and healthcare.
What's next for 58.com?
The substantial enterprise-level funding and major strategic investment received by 58.com signal a strong commitment to further scaling its operations and enhancing its market leadership. This capital infusion is likely to be directed towards technological advancements, expanding service offerings, and potentially exploring new geographic markets or vertical segments within the classifieds sector. The company's strategic focus will likely involve leveraging its established network effect to introduce innovative features and services, thereby reinforcing its competitive advantage and driving future revenue growth.
See full 58.com company page
