Summary:

58.com, a Chinese classified ad site, has raised $15 million in a round of funding. 58.com — which is currently in 320 cities in China and…

Classifieds
photo: Corbis / Jamie Grill

58.com, a Chinese classified ad site, has raised $15 million in a round of funding. 58.com — which is currently in 320 cities in China and has more than 20 million registered users — says it will use the new cash to expand in “second- and third-tier cities” according to a brief by China-focused market research firm Marbridge Consulting. 58.com declared earlier this year that it was now profitable. With the new cash, 58.com will have raised just over $20 million in VC funding. The latest money comes from Doll Capital Management and Softbank Asia Infrastructure Fund Partners (via Seeking Alpha).

You’re subscribed! If you like, you can update your settings

Comments have been disabled for this post