Tag Archives: wuba

‘Craigslist of China’ 58.com Expects Q2 Revenue Leap

Share prices of online marketplace 58.com have more than tripled since its IPO last fall, as the “Craigslist of China” nears its second-quarter report. 58.com (WUBA) discloses before the open on Thursday, with earnings expectations of 8 cents per share and anticipated revenue of $62.65 million, according to analysts polled by Thomson Reuters. The latter prediction runs a little higher than the midpoint of 58.com’s own revenue forecast of $61

Waiting For Alibaba? China’s Top 5 E-Commerce Stocks

Alibaba Group, by far the No. 1 e-commerce firm in China, is expected as soon as the end of this month to make one of the biggest U.S. IPOs ever, but it will just add to an already sizable list of Chinese e-commerce companies trading in the U.S. By IBD Composite Rating (CR), the top China e-commerce firms are E-Commerce China Dangdang (DANG), JD.com (JD), Jumei International Holding (JMEI), Vipshop Holdings (VIPS) and 58.com (WUBA). Two of the

Tencent Goes Local With Stake In 58.com

Chinese Internet giant Tencent has agreed to take a 19.9% stake in e-commerce site 58.com (WUBA) for $736 million, an effort to boost local traffic against rival Alibaba. U.S.-traded shares of 58.com were up 7% in afternoon trading in the stock market today, near 56. 58.com made its U.S. IPO in October, pricing its shares at 17. 58.com rose nearly 14% on Thursday. Tencent and 58.com, which operates a Craigslist-like site in China, are going after