Baixing Reveals Third-Round Funding Details
21st Century Business Herald, 6/14/13
Wang Jianshuo, founder and CEO of Chinese online classifieds site Baixing.com, announced on June 13 that Baixing has received third-round funding. Tenaya Capital took a share of the company in June 2011, Wang said.
Baixing.com (formerly known as Kijiji.cn) was originally a wholly owned subsidiary of eBay. In June 2008, the site's Chinese founding team and GSR Ventures acquired most of eBay's interest in the company, becoming majority shareholders, with eBay staying on as a minority shareholder. The site was rechristened Baixing.com following the acquisition. In August 2009, Benchmark Capital made its first investment in China by participating in Baixing's second round of funding.
According to the Tenaya Capital website, the company also has an investment in Chinese Internet firm Baidu's (Nasdaq: BIDU) online travel services subsidiary Qunar.
Editor's Note: For more information on this topic, please see "Baixing Obtains Second-Round Funding," MD 11/12/10 and "Rumor: eBay Sells Off Baixing Stake," MD 11/29/10 issues.
Keywords: VC Wang Jianshuo Internet funding online classifieds Baixing third-round Tenaya Capital
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