Rumor: 58.com Lands USD 60 Mln in Third-Round Funding

TechWeb, 12/09/10

An industry source revealed today that Chinese online classified listings site 58.com had completed a USD 60 mln third round of financing, giving the company an estimated total value of USD 150 mln.

According to industry rumor, Warburg Pincus was 58.com's investor in this round, as was 58.com founder Yao Jinbo, who invested more than USD 5 mln of his own money in the company.

58.com's management team will remain the majority shareholders after this round of financing. Yao had previously said that he would consider the possibility of making further investments in 58.com as an individual investor.

58.com has not yet commented on the rumors.

Keywords: Yao Jinbo Internet funding 58.com third-round Warburg Pincus online classifieds

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