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China’s 58.com Goes Public as It Seeks to Stay Ahead of Rivals

58.com, China’s equivalent of Craigslist, raised $187 million from U.S. investors. 58.com Inc. listed on the New York Stock Exchange with plans to spend the funds to improve customer service, acquire rivals and increase marketing. The initiatives will help in its mission to outmaneuver competitors and drum up new users for the company’s online classified-advertising service. American depository shares of the Beijing-based ... Read More »