Subscribe58.com Raise Funding From SAIF
58.com, an online classified advertising site, announced to have raised several million USD from SAIF. It is said to be the first online classifieds site to get VC funding.
With the success of craigslist, many online classifieds startups appear in China last year. As you may find in the the China’s web2.0 100 list by CCW, 9 out of 100 companies in the list are classifieds sites. 58.com, founded in July 2005, is one of those startups who want to copy the success of craigslist and eat a share of pie in this market. 58 plans to set up local communities and classifieds service for 360 cities in China.
Previous news report said the amount of funding is USD 5 million, but no details on the amount is disclosed in their press conference last week.
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