Chinese classified site, 58.com, has filed for IPO in Nasdaq, according to local news.

The company was founded in late 2005, by Yao Jinbo, who previously founded the largest domain name exchange company in China and sold it. 58.com is modeled after Craigslist in the U.S.. It provides classified ads for flat rental, recruitment, second hand goods, selling car, restaurant, etc. Its services cover over 300 cities in China. Most of the ad are free. But it charges if the advertisers want their posts to appear in front of the listings.

Imitators Poping Up In China
Craigslist imitators started to mushroom in China in 2005, when the original classified site got famous in the U.S. Within a year, there were about 500 such websites in the country. “Many of them are portals for a particular region, such as Beijing, Shanghai, etc. They cover local news and events in their own cities or provinces,” said an industry insider, “As Craigslist proved popular, they started their own classified sections too.”

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Sherman So

Author of Red Wired: China's Internet Revolution, the first book to completely survey the nature of China's internet. (http://redwiredrevolution.com/) She previously was the lead China technology reporter...