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China: The ‘Craigslists of China’ may merge

By  |  April 14, 2015

58.com the Chinese classified ads website has agreed to merge with rival Ganji.com.

The companies signed a memorandum of understanding on March 14 and could announce a definitive merger agreement as soon as Wednesday, according to the Financial Times, citing people familiar with the matter.

The combined firms could be worth as much as $10 billion, one person involved in the transaction told the newspaper. Ganji.com founder Haoyong Yang would share co-CEO duties with 58.com founder Jinbo Yao after the deal closes.

 

Full Content: The Financial Times

 

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