Why China’s Craigslist Made Big Losses In 2015

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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