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58.com Announces Completion of "Going-Private" Merger
58.com, 9/18/20
Chinese online classifieds site 58.com (NYSE: WUBA) today announced the completion of the merger (the "Merger") with Quantum Bloom Company Ltd ("Merger Sub"), a wholly-owned subsidiary of Quantum Bloom Group Ltd ("Parent"), pursuant to the previously announced agreement and plan of merger, dated as of June 15, 2020 (the "Merger Agreement"), among the Company, Parent and Merger Sub. Read More
58.com's Zhuan Zhuan to Acquire Used Handset Trading App Zhaoliangji
58.com, 4/07/20
Chinese online classifieds site 58.com (NYSE: WUBA) today announced that Zhuan Zhuan, an online used goods trading platform and a consolidated subsidiary of 58.com, has entered into definitive agreements to acquire a 100% equity interest in the operator of second-hand mobile phone trading app Zhaoliangji. Read More
58.com Receives Preliminary Non-Binding 'Going-Private' Proposal
58.com, 4/02/20
Chinese online classifieds site 58.com (NYSE: WUBA) today announced that it has received a preliminary non-binding proposal letter today from Ocean Link Partners Limited to acquire all of the outstanding ordinary shares of 58.com, including Class A ordinary shares represented by American depositary shares ("ADSs," each representing two Class A ordinary shares), for USD 27.5 in cash per Class A or Class B ordinary share, or USD 55.0 in cash per ADS. Read More
58.com Purchases Uxin's B2B Used Car Auction Platform
58.com, 3/24/20
Chinese online classifieds site 58.com (NYSE: WUBA) today announced that it has entered into definitive agreements with Uxin Limited (Nasdaq: UXIN), a leading national online used car dealer in China, to purchase certain assets and liabilities related to Uxin's B2B online used car auction business for a total cash consideration of USD 105 mln. Read More
58.com's Logistics Platform Kuaigou Dache May Launch Ride-hailing Service
Sina Tech, 9/12/18
Mobile local logistics platform Kuaigou Dache, operated by Chinese online classifieds site 58.com (NYSE: WUBA), recently held a strategic press conference to outline its future development strategy. Read More
Galaxy eSolutions Invests in O2O Smartphone Maintenance Platform 'Accelerate'
Cyzone, 7/17/18
Guangzhou-based Xiuke Information Technology, operator of O2O smartphone maintenance platform Jiasudu ("Accelerate"), recently announced the completion of RMB 8-digit Series A funding from Hong Kong-based cross-border e-commerce company Galaxy eSolutions. Read More
Baidu Launches In-app Applet Function
IT Home, 7/04/18
Chen Dou, a vice president at Chinese internet conglomerate Baidu (Nasdaq: BIDU), recently announced a new Baidu smart in-app applet function at the company's Baidu Create 2018 AI developer conference in Beijing. Read More
58.com's Logistics App 58 Suyun Merges with Van Rental App GoGoVan
iYiou, 8/28/17
Mobile logistics app 58 Suyun, operated by Chinese online classifieds site 58.com's (NYSE: WUBA) O2O life services subsidiary 58 Home, has merged with intra-city logistics platform GoGoVan, operated by Hong Kong-based Gogo Tech Limited. Read More
Car Maintenance App 'Happy Vehicle Nation' Secures RMB 300 Mln Series B
36Kr.com, 5/25/17
Shanghai-based Xiangtu Network Technology, developer of mobile car maintenance booking app Lechebang (literally "Happy Vehicle Nation"), has announced completion of RMB 300 mln in Series B funding led by Yuanyi Investment. Read More
Baidu, Xiaomi, Qihoo 360 Invest in Anti-Fraud Solutions Provider Nextdata
Lieyunwang, 3/02/17
Beijing-based anti-fraud solutions provider Shumei Times Technology (Nextdata) recently announced completion of USD 10 mln in Series A funding from Shunwei Capital Partners, Crystal Stream, internet company Baidu's (Nasdaq: BIDU) VC arm Baidu Ventures, and internet services and security software provider Qihoo 360. Read More
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