Tag Archives: wuba

58.com, Chinese Classifieds Site Ganji Seen Merging

58.com (WUBA), the Chinese version of Craigslist, reportedly has agreed to merge with professional classifieds site Ganji.com. An announcement is expected Wednesday, after the two Chinese companies signed a memorandum of understanding on March 14, sources told the Financial Times. Ganji.com founder Hauyong Yang and 58.com founder Jinbo Yao are said to become co-chief executives of the combined company, which would be worth up to $10 billion. The

This Chinese Internet Stock Is Near A Buy Point

Shares of Chinese Internet mammoth Tencent (TCEHY) are nearing a buy point on the stock market today. Tencent is China’s messaging giant, running the WeChat and QQ services. It also has a hand in a multitude of other Chinese businesses, including JD.com (JD), BitAuto (BITA) and 58.com (WUBA). At the end of last year, Tencent signed a deal with Time Warner (TWX) to be the exclusive distributor of HBO content in China. It’s in fierce competition

‘Craigslist of China’ 58.com Tops, Stakes In To8to

58.com (WUBA) shares perked up following solid earnings and outlook, plus news that the “Craigslist of China” had bought a stake in online interior decoration service platform To8to. Shares of 58.com, an online Chinese marketplace, jumped 6.8% to 44.57 in the stock market today after rising as high as 45.58. The company earned 4 cents per American depositary receipt, down from 13 cents the year before but far above analyst views for a 12-cent