With Tujia now a unicorn and a half, 58.com set to pay off
10 Oct 2017
Chinese classifieds giant 58.com’s (58同城, NYSE: WUBA) growth has been fuelled by some prophetic strategic investments. In addition to high-profile acquisitions like Anjuke, ChinaHR.com and Ganji, the Beijing based company has secured minority stakes in Vanke Property Management (which we reported on here), Tubatu.com (土巴兔), Wowqu.cc (窝趣), and consumer finance provider Changying Wuba.
The Airbnb equivalent Tujia (途家网), continues to look like the best of these plays, with the company announcing that it has secured $300 million U.S. in investment, valuing it at a very strong $1.5 billion U.S.
Tom is a PhD candidate in Chinese History at Hong Kong Baptist University, and former PR consultant in Mainland China. He joined the AIM Group in 2016 as a writer/analyst.