Baixing.com, China’s second-largest independent horizontal following the 58.comGanji.com merger in 2015, is continuing its aggressive expansion strategy in 2019. Revenues reached 411 million RMB ($58 million U.S.) in H1 — representing an increase of more than 150% year-over-year — but losses also reached a new high, at 7.5 million RMB.

Baixing’s revenues were 440 million RMB in FY2018 — a 9% year-over-year increase, but a 31 million RMB profit in FY2017 was replaced with a 35 million RMB loss, as attempts to diversify beyond classifieds caused costs to soar. New avenues in SaaS have been a focus for expansion, although the company did not disclose results for this sector alone. 

Baixing launched a new site for listing haulage vehicles and other machinery in April. FangXinChe promises independently verified listings and Baixing-backed customer service.

The horizontal is listed on China’s OTC equity market, the National Equities Exchange and Quotations (NEEQ) board. Chinese tech giant Baidu invested 220 million RMB in Baixing in late 2015 — in return for a 4.76% stake in the company. Baixing has invested in everything from video content producerswedding reception companies, and temping platforms over the past two years.

First launched in 2005 as an independent Chinese-owned entity under EBay’s Kijiji brand, Baixing-Kijiji formally split with the Kijiji name in 2015, becoming Baixing.com. The site receives between 5 and 6 million visitors per month, according to SimilarWeb.

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