Local news broke yesterday that 58.com, the China’s Craiglist closed its US$ 55 million Series D round of financing in H2 of last year led by Warburg Pincus with participation from Yao Jinbo, founder and CEO of 58.com. People familiar with the matter said that Warburg Pincus invested US$ 42 million into the company while Yao invested US$ 13 million into it. This sounds familiar, in the Beijing-based company’s US$ 60 million third round of financing in December 2010 led by Warburg Pincus, Yao also participated by investing US$ 5 million into his own company.

In response to the rumor, Yao said on Sina Weibo, the popular Chinese micro-blogging service that “Successfully raising money from existing investors as well as from its founder speaks to investors’ confidence in the startup, and disappoints those who’re looking to our failure. We’re confident in exploring and innovating the life service-related Internet on our own.” He also noted that the funding numbers weren’t right as to the latest round.

Also in last week, a self-claimed anonymous former 58 staff claimed that “58.com was about to fall apart with a yearly loss of US$ 70 million”. Yao rebuffed the saying claiming his company was on track to make profit.

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Ben Jiang

Listener of startups, writer on tech. Maker of things, dreamer by choice.