The largest classified information website in China, providing a variety of life services such as housing rental and sales/recruitment/second-hand items/merchant yellow pages/pet ticketing/travel and dating/catering and entertainment, merged with Ganji.com in 2015 but maintained the independence of the two brands
58.com was founded in Beijing in December 2005.
On October 31, 2013, Beijing time, it was officially listed on the New York Stock Exchange. This marks that 58.com has successfully landed in the U.S. capital market and become a listed company in the field of life services!
In June 2014, the company officially reached a strategic investment cooperation with Tencent Holdings, and the two sides will carry out in-depth cooperation in the field of mobile Internet and other key product lines to jointly improve product functions and user experience.
Adhering to the vision of "a life service platform trusted by everyone" and the core values of "user first", 58.com has been tirelessly pursuing technological innovation and the expansion and deepening of service categories, relying on people's rapidly developing daily life needs, and continuing to provide users with "local, free, real and efficient" life services.
Up to now, the content of 58.com's website has covered about 380 cities across the country, and every day, 58.com responds to a large number of information service requests from all over the country. Every user can find the local life service they need in the shortest possible time through 58.com's huge and meticulous service system.
In terms of product research and development, 58.com has been committed to listening to the voices of users, digging deep into the potential needs of users, and providing a variety of life services such as housing rental and sales, recruitment and job search, second-hand items, second-hand cars, second-hand houses, merchant yellow pages, pet ticketing, travel and dating, catering and entertainment under the guidance of the corporate mission of "making people's lives easier through the Internet". Gather all kinds of life service needs of users on the efficient platform of 58.com, which is not only a platform for information interaction, but also a one-stop life service platform.
In addition to meeting the needs of users for convenient life, 58.com also provides a cost-effective and efficient integrated marketing promotion platform for all kinds of businesses. On the basis of the VIP service of Netlink, it provides a variety of promotion products such as precise promotion, intelligent promotion, and pinning.
In 2012, 58.com took the lead in launching the "Consumer Protection Plan" in the industry, which is a set of standardized system processes for information security, capital security and reliability in the whole process from consumers seeing information to completing transactions. In the future, 58.com will gradually realize the consumer protection mechanism in various product sections, so that the protection of consumers by 58.com, a life service platform, will reach an unprecedented height in the industry, and users will be more assured and worry-free when making transactions.
Since its establishment, 58.com has continued to innovate and optimize the value of the platform, launching a consumer protection plan, introducing secured transactions, implementing advance compensation, improving mobile functions, etc. 58.com has become a life service platform that is truly based on the fundamental interests of consumers, and will lead the entire life service industry from the "quantitative era" of information to the "qualitative era" of security and trust.
In the future, through unremitting efforts, continuous improvement of credit management mechanism, consumer protection system and more in-depth services, 58.com will surely make people's lives simpler and better.
On April 17, 2015, the CEOs of 58.com and Ganji.com issued an open letter to officially confirm the merger. After the merger of Ganji and 58.com, at the capital level, the two will form a new company - 58 Ganji Co., Ltd.
The two companies will maintain the independence of their respective brands, and the website and team will continue to grow and operate independently. The merger will be conducted in a 5:5 share swap, whereby 58.com will acquire a 43.2% stake in Ganji, including 34 million common shares (17 million ADSs) and $412.2 million in cash, on a cash-and-stock basis. In addition, Tencent will subscribe for $400 million worth of 58.com's newly issued shares at a price of US$52 per ADS. The combined company will have a market capitalization of more than $10 billion, ranking seventh among Chinese Internet companies.
