58.com Q1 2009 Ad Revenues Reach RMB 10 Mln
China Securities, 5/25/09
Chinese online classified listings site 58.com has announced that the company's Q1 2009 advertising revenue reached nearly RMB 10 mln, contributing to net profit of RMB 4.2 mln. The company saw advertising revenue in April of over RMB 3 mln, with net profit of RMB 1.1 mln, up 50% year-on-year and 37% month-on-month. According to 58.com, the company expects to record revenue of over RMB 50 mln this year.
Yao Jingbo, president of 58.com, stated that precision marketing is the company's primary profit model, and includes services such as helping small and medium sized enterprises (SMEs) to develop websites and implement marketing campaigns. Such services have seen user numbers increase by nearly 800 every month, with the number of members on the company's "recommended sellers" list growing by 35% year-on-year during the first quarter.
Keywords: online advertising Yao Jingbo 58.com Internet profit Q1 2009 revenue online classifieds SME
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