Chinese online classifieds market 58.com Inc will buy 100 percent of Shanghai-based real estate Internet platform Anjuke Inc in stock and cash valued at US$267 million.<\/p>\n
The deal also includes the issuance of nearly 5.1 million new ordinary shares of 58.com and US$160 million in cash, the company said yesterday.<\/p>\n
Zhuang Jiandong, senior vice president of the company, will head the newly combined 58 Anjuke Real Estate Business Group, while Mike Liang, former CEO of Anjuke, is leaving to start a new business related to property.<\/p>\n
“There is still very robust demand for real estate in China and the opportunity for the best online real estate platform remains massive,” Yao Jinbo, CEO of 58.com, said yesterday.<\/p>\n
“After the deal, we hopefully will be the biggest information provider of real estate market by users and revenue.” Yao added.<\/p>\n
Before the deal, Anjuke had raised US$72 million in four rounds of funding.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese online classifieds market 58.com Inc will buy 100 percent of Shanghai-based real estate Internet platform Anjuke Inc in stock and cash valued at US$267 million. The deal also includes the issuance of nearly 5.1 million new ordinary shares of 58.com and\u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[6],"tags":[3],"class_list":["post-2801","post","type-post","status-publish","format-standard","hentry","category-newsofchina","tag-null"],"yoast_head":"\n