After merging with its major competitor Ganji.com (“Ganji”) last year, 58.com Inc. (“58”) became the largest online classified listing company in China with an estimated market share of 70% to 80%. Their only direct competitor is Baixing.com, whose annual revenue in 2015 was a low single digit percentage of 58.com’s.

58.com also aqcuired Anjuke, a real estate listing site in March 2015, while the addition of the two companies did boost their top-line revenue, 58.com still posted a significant loss in 2015.

Apart from the expenses associated with the consolidation of Ganji’s and Anjuke’s financials, the company attributed the losses to “increased competition.”

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com