Ganji.com, one of the leading classified listing sites in China, has begun the IPO process, the company said so today. 58.com, Ganji’s direct competitor launched an IPO on the NYSE in 2013.
The company has raised more than US$400 million in disclosed funding since 2009. The latest US$200 million round was announced in August 2014.
Job posting is a major revenue source for Ganji. The company made RMB768 million (roughly US$158 million) from this area in 2014, and aims to double that this year. It charges paying customers a RMB88 (US$14) monthly fee, with 10% of its 5.5 million enterprises users are paying customers.
Ganji announced it would invest US$100 million into the Chinese second-hand car platform in December 2014.
Editing by Mike Cormack (@bucketoftongues)