Overview
58.com inc (WUBA) started in China in 2005 with an online classifieds platform that is similar to Craigslist. Since then, WUBA has become one of the most valuable Chinese internet unicorns as it grew exponentially through expansion into other businesses across various verticals.
We believe that WUBA provides an interesting opportunity for investors looking to gain exposure to Chinese internet consumers and a two-sided online services market like the one Craigslist is doing. WUBA looks a lot like Craigslist on steroids. Compared to Craigslist, WUBA has been able to monetize its core marketplace platform