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 cultivated a powerful network effect, solidifying its leadership in the competitive online classifieds landscape. The company's business model is designed to facilitate local transactions and information exchange, making it an indispensable tool for businesses and individuals across China.
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 DCM Ventures and SAIF Partners
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 known for its expertise in growth investing. The firm leverages extensive experience to support investors and management teams in building sustainable success across diverse market cycles and industries.
Tencent
Tencent Holdings Limited provides internet and mobile services, and online advertising services internationally. The company is a major player in online and mobile games, applications, and instant messaging services.
DCM Ventures
Digital Cinema Media (DCM) is a market leader in cinema advertising, offering campaign planning, production, and audience insights to brands. They focus on enhancing advertising strategies through cinema engagement.
What's next for 58.com?
With a history of significant capital injections, including a notable share placement with Tencent in 2014, 58.com is well-positioned for its next phase of development. The recent strategic investment, alongside its overall funding trajectory, suggests a focus on consolidating its market dominance and potentially exploring new verticals or enhancing its existing service offerings. The company's ability to attract major backers like Warburg Pincus and Tencent highlights its robust business model and significant growth potential within the Chinese digital economy.
See full 58.com company page
