Guazi Announces Series B Financing

BEIJING, June 16, 2017 /PRNewswire/ -- 58.com Inc. (NYSE: WUBA) ("58.com"), China's largest online marketplace serving local merchants and consumers, today announced that Guazi.com Inc. ("Guazi"), the Company's minority-owned entity that operates a consumer-to-consumer (C2C) used car trading platform, announced over US$400 million in Series B financing.

Participants in the Series B financing included existing shareholders Sequoia Capital China, Matrix Partners China, BRV Aster Fund, and Hike Capital as well as new investors such as H Capital, New Trend Equity Investment Fund Partnership, Beijing Jingxi Guigu Innovation Investment, and Dragoneer Investment Group among others.

Guazi is a C2C used car trading platform which directly links individual car sellers and buyers in China's rapidly growing used car market.

About 58.com Inc.

58.com Inc. (NYSE: WUBA) operates China's largest online marketplace serving local merchants and consumers, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company's online marketplace enables local merchants and consumers to connect, share information and conduct business. 58.com's broad, in-depth and high quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers. 58.com's strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on 58.com, please visit http://www.58.com.   

For more information, please contact:

58.com Inc.
[e-mail]

Christensen
In China
Mr. Christian Arnell
Phone: [phone]
E-mail: [e-mail]

In US
Ms. Linda Bergkamp
Phone: [phone]
Email: [e-mail]

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/guazi-announces-series-b-financing-300475138.html

SOURCE 58.com

Copyright 2017 PR Newswire