Overview

58.com (58同城) is a major Chinese online classifieds and local-services platform, founded in 2005 by Yao Jinbo and headquartered in Beijing. It operates as a marketplace where individuals and small businesses post and browse listings across categories such as jobs and recruitment, housing and real estate, second-hand goods, local services, and business opportunities. The platform became one of China's best-known internet classifieds brands, connecting urban consumers and small merchants in hundreds of cities. The company behind the brand, 58.com Inc. (often referred to as 58 Group), grew through a series of acquisitions and investments in adjacent verticals, including the housing platform Anjuke and the recruitment site Ganji, building a portfolio of classifieds and local-service properties. 58.com listed on the New York Stock Exchange under the ticker WUBA and later was taken private in a management-led buyout completed in 2020, after which it continued to operate as a private company. 58.com's brand positioning centers on being a comprehensive, mass-market classifieds destination — 'a city's life in one place' — serving price-sensitive consumers and small businesses rather than premium or enterprise segments. Its revenue historically came primarily from paid listings, advertising, and membership products sold to merchants and recruiters. The brand remains widely recognized in China's internet landscape, though it faces competition from vertical specialists in jobs, housing, and second-hand trading.

History

58.com was founded in 2005 by Yao Jinbo in Beijing as an online classifieds service, at a time when China's internet was rapidly expanding and local information was fragmented across newspapers, bulletin boards, and offline channels. The platform aggregated listings for jobs, housing, second-hand goods, and local services into a single searchable website, targeting the mass market of urban residents and small merchants. Through the late 2000s and 2010s the company expanded city by city across China, building local sales teams to recruit merchants and monetizing through paid listings, advertising, and membership packages. It became one of the country's largest classifieds brands and a household name for finding jobs, apartments, and second-hand items. 58.com Inc. listed on the New York Stock Exchange under the ticker WUBA, giving the brand access to international capital markets. The company pursued an aggressive consolidation strategy in China's classifieds and local-services sector, acquiring or investing in adjacent platforms — notably the housing portal Anjuke and the classifieds rival Ganji — to form what became known as 58 Group, a portfolio spanning housing, recruitment, and local services. In 2020 a management-led buyer group completed a take-private transaction, delisting 58.com from the NYSE and returning it to private ownership. Since then the brand has continued to operate its classifieds and vertical platforms, while facing intensifying competition from specialized apps in recruitment, real estate, and second-hand trading, and adapting to mobile-first and short-video-driven consumer behavior in China.

2020
Management-led buyout completes, taking 58.com private and delisting it from the NYSE.
2015
58.com acquires classifieds rival Ganji and integrates Anjuke into its housing vertical, forming 58 Group.
2013
58.com Inc. lists on the New York Stock Exchange under ticker WUBA.
2005
58.com founded by Yao Jinbo in Beijing.

Products and positioning

Mass-market, comprehensive online classifieds and local-services marketplace for Chinese consumers and small businesses.

58.com classifieds platform
Core website and app for local classified listings across jobs, housing, second-hand goods, and services.
Anjuke
Housing and real estate vertical platform within 58 Group.

Controversies

2021
Jiangsu consumer committee interviews second-hand trading platforms
The Jiangsu Consumer Council publicly interviewed 12 second-hand trading platforms over issues identified in a consumer survey, including suspected tolerance of counterfeit sales and problematic information. It required the platforms to self-inspect and rectify the identified issues and submit written adjustment plans by February 22, 2021. The report said 58.com had removed certain listings and closed accounts, while Xianyu had taken down items from users who violated rules.
Source
2020
58.com employees allege forced leave and pay cuts
Employees of 58.com reportedly alleged that the company had begun layoffs and was requiring employees to take two months of leave with reduced pay. 58.com said the report was untrue and described its staffing arrangements as normal business adjustments.
Source

Recent events

2021-07-13
58同城 and 人人车 form deep cooperation[5]58同城与人人车达成深度合作finance.sina.com.cn
Reported: 2021-07-13
58同城 announced a deep cooperation with 人人车 to connect used-car platform resources and improve transaction circulation efficiency.
2021-06-29
58.com and China Mobile launch co-branded cards[6]58同城与中国移动推出联名卡chinaz.com
58.com and China Mobile jointly launched three co-branded cards offering mobile services and 58.com VIP benefits.
2021-06-22
58.com and KPL open esports recruitment event[7]58同城与KPL开启电竞招聘专场finance.people.com.cn
Reported: 2021-06-22
58.com and the King Pro League jointly opened a dedicated esports recruitment event aimed at connecting people seeking esports jobs with employers.
2021-01-28
Jiangsu consumer committee interviews second-hand trading platforms[2]Jiangsu consumer committee interviews second-hand trading platformsnews.cyol.com
Reported: 2021-02-28
The Jiangsu Consumer Council publicly interviewed 12 second-hand trading platforms over issues identified in a consumer survey, including suspected tolerance of counterfeit sales and problematic information. It required the platforms to self-inspect and rectify the identified issues and submit written adjustment plans by February 22, 2021. The report said 58.com had removed certain listings and closed accounts, while Xianyu had taken down items from users who violated rules.
2020-09-18
58.com completes privatization merger with Quantum Bloom[8]58同城完成与Quantum Bloom的私有化合并chinaz.com
58.com announced that it completed its privatization merger with Quantum Bloom and requested suspension of trading in its American depositary shares on the New York Stock Exchange.
2020-09-17
58.com announces acquisition of Mofang Weile[9]58同城宣布并购魔方微猎hy.stock.cnfol.com
58.com announced its acquisition of Mofang Weile, which was subsequently renamed 58 Mofang. The article describes the acquisition as combining 58.com’s recruitment platform and traffic with 58 Mofang’s recruitment-delivery services.
Unconfirmed
58同城 wins annual CSR brand recognition[10]58同城获评年度CSR品牌news.pedaily.cn
58同城's education-support project received the annual CSR brand recognition at the fourth CSR China Education Awards.
2020-07-14
58.com and Anjuke partner with Chuangfugang[11]58同城、安居客与创富港展开合作house.cnfol.com
58.com and Anjuke entered a broad cooperation with Chuangfugang to improve online presentation and develop commercial real-estate opportunities in the joint-office sector.
2020-06-15
58.com announces privatization merger agreement[12]58同城宣布私有化合并协议finance.sina.com.cn
Reported: 2020-06-16
58.com announced that it had signed a merger agreement with Quantum Bloom Group Ltd. Under the agreement, a buyer consortium would purchase all of 58.com’s issued ordinary shares for cash, at a transaction valuation of approximately $8.7 billion.
2020-06-08
58.com and Anjuke upgrade rental VR tools[13]58同城、安居客升级租房临感VR工具house.cnfol.com
58.com and Anjuke upgraded their rental VR tool series, opened VR listing photography to agents for free, and offered additional traffic support in eight Chinese cities. The free upgrade activity was set to continue through September 30.

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Overview

History

Products and positioning

Controversies

Recent events

Sources46 sources