58 city and market network is a pair of old foes, with Craigslist to imitate the American model, both in the domestic hundreds of killing the competition would eventually, become the domestic pair classification information market.
recently, the pair in the capital market and launched a infighting. Hunting cloud network with readers through the information of the infighting.
in early August, according to bloomberg news, the 58 city (58. com) is scheduled to years in the United States listed on IPO (initial public offering), to raise at least $100 million.
according to the source, 58 city is working with credit suisse and Morgan Stanley, in the process of IPO. One of the sources said, 58 city may also in cooperation with other investment Banks.
if the news is true, the 58 city will become the second home this year completed ipos of Chinese companies in the United States. 58 city has yet to comment on the news, credit suisse and Morgan Stanley spokeswoman declined to comment
as we have learned, 58 city during the 2011 middle submit to nasdaq listing application documents. However, as Chinese stocks suffered a cold snap, matter of the 58 city listed below.
including Yao Jinbo 58 city official, has not to publish any view.
58 city if first, will greatly affect the market network of listing process. Because both belong to a competitor in the field of, also after several rounds of financing, also face enormous pressure, who should be listed first had the first mover advantage, certainly will cause huge difficulty financing to one side.
“surprise”, even in 58 city spread to the listed before long time, the market network “voices” finally. Network CEO Yang Haochong market, according to the market last year completed two rounds of financing in total $90 million. The two round, round from citic, another is from Ontario teachers’ pension funds and Macquarie. At the same time of disclosure finance news, Yang Haochong also announced to net profit.
Yang Haochong also said the market net has become profitable by the end of 2012, and will harvest the first full-year earnings this year. Finally Yang Haochong “adding that” the short-term market, there is no listing plan. “Market there are currently no money pressure, also do not have so necessary to market, from the company long-term development perspective, unlisted state can adopt more flexible expansion strategy, and constantly changing in the market have a faster response.” This city clearly aimed at 58.
a word about listing, financing of $100 million and the other is announced last year has been completed as much as $90 million of financing. Although market net position will not short listed, funding sources, plus have profitable throws a imprison son good or to the outside world.
a industry executives declined to be named told hunting cloud network, market network, obviously, the purpose of this announcement market network development better than 58 city tell the outside world. 58 city public pressure. Although market network, on the other hand, said don’t try so hard, but the market still have excuses, ready to listed.
in the end, hunting cloud network editor says an insider.
in fact, about 58 city and market competition, most of the people’s cognitive from market network spokesman yao, please do small donkey fair advertising and 58 city invite Yang mi magical website promotion. Both sides in the confrontation on marketing is very impressive. Hunting cloud network editor once and market network CEO Yang Haochong dinner together, he said on the table, please yao endorsement fee is 4 million yuan, 58 city Yang mi worth don’t know how many?