Chinese classifieds giant 58.com (NYSE: WUBA) will hire Li Zijian to take over the role of vice president overseeing the company’s Local Services Business Group (LBG) division. Li will report to 58.com co-president He Mingke.
The Local Services Business Group division oversees the operations of subsidiary 58DaoJia Inc. — a mobile-based closed-loop transactional platform for home services. The site connects consumers and individual service providers for local services like home cleaning, moving, and manicures. 58.com uses AI and machine learning to match users with appropriate professionals.
“We welcome Li Zijian to 58.com. He will inject new development potential into the Local Services Business Group (LBG), which will help deepen its innovation ability,” CEO Michael Yao Jinbo said.
Li Zijian previously worked at Boston Consulting Group, focusing on its strategic planning, marketing, and organizational transformation. Prior to joining 58.com, he worked for ride-hailing giant Didi Chuxing where he served as senior strategy director, passenger operations manager and regional general manager.
Last week, 58.com announced the formation of a new business division focused on integration with Tencent‘s billion-user mobile social hub WeChat. The “Social Listing Business Group” joins the company’s existing Human Resources Business Group, Property Services Business Group, Auto Services Business Group, and Local Services Business Group.
Total revenues for FY 2018 were 13.1 billion RMB ($1.9 billion U.S.) — a 30.5 percent increase from just more than 10 billion RMB in FY 2017. Gross margin was 89.1 percent, compared with 90.8 percent in 2017.