Posted 10/31/2013 at 2:34 PM
Posted 3 years ago
It is referred to as the “Craigslist of China”, 58.com, who will be holding their first public offer of 11 million (ADS) American Depository Shares. The shares are selling at $17 dollars each today via the New York Stock Exchange. 58.com shares will have a ticker listing of “WUBA”.
The proceeds from the IPO of the 58.com company will be used for product development. Mobile apps will also be a focus for the “Craigslist of China”. 58.com already have had success with blue-collar worker jobs that are posted short-term. The company wants to start to make location-based mobile apps so as to make speedy connections with job seekers.