58.com Subsidiary 58 Home Raises US$300 million in Series A Funding

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Go back to 58.com Subsidiary 58 Home Raises US$300 million in Series A Funding

58.com (WUBA) Enters $300M Funding Agreement

October 12, 2015 6:52 AM EDT

58.com (NYSE: WUBA) announced the signing of a definitive shares subscription agreement ("SPA") for a US$300 million Series A equity funding round for 58 Daojia Inc., the 58 Home subsidiary of 58.com, with participation from Alibaba Group Holding Limited ("Alibaba"), global investment firm KKR and Ping An Group ("Ping An"). The transaction is subject to customary closing conditions.

Founded in September 2014, 58 Home is a multi-category local services platform in China. It provides information on and access to high-quality offline services such as cleaning, moving, babysitting, beauty care, and many other... More