Business, Internet, Telecom & Wireless

Chinese Classified Listings Website Closes USD200 Million Round

Chinese lifestyle information website Ganji.com has gained new investments of USD200 million with investors such as Tiger Fund and Carlyle Group.

Yang Haoyong, chief executive officer of Ganji.com, revealed that the company plans to launch its initial public offering in June 2015.

Yang said Ganji.com will "not be listed with the second position" and the company aims at three firsts. It eyes the first position for operating revenue in the classified information industry in China; the first position for mobility in the classified information industry; and the first in the recruitment industry. Ganji.com's current monthly income claims to be about CNY100 million and it growth rate in 2014 is about 150%.

At present, Ganji.com's major businesses with the largest traffic include recruitment, real estate, lifestyle services, and used car listings. According to Yang, the commercialization of the first three businesses is smooth and the revenue of recruitment sector accounted for 40% to 50% of total revenue of the company. In addition, the company claimed that the number of resumes in its recruitment channel is twice as the sum of 51job.com and Zhaopin.com, two mainstays in the Chinese online job search market.

Recruitment and mobility have been listed as the two differentiators by Yang. The newly financed capital will be used to rapidly extend its market share and make further investment in the mobile sector.

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