Rumor: Ganji Seeks USD 200 Mln Funding, Rejects 58.com Merger
Sootoo, 4/13/15
Beijing-based Yinxiu Weiye Science and Technology, operator of online classified website Ganji.com, is currently in talks with several venture capital firms to initiate a new round of USD 200 mln funding. However, Ganji has reportedly been unable to secure any funding because its market valuation is too high. The company has not officially commented.
Ganji previously rejected a proposed merger with Chinese online classifieds site 58.com (NYSE: WUBA), a move which some analysts attribute to Ganji founder and CEO Mark Yang's pride.
Editor's Note: For more information on this topic, please see "Ganji Completes USD 200 Mln Series E Funding," MD 8/13/14 issue.
Keywords: sixth-round Internet funding online classifieds 58.com Ganji Mark Yang WUBA Yinxiu Weiye VC