In 2010, Warburg Pincus invested in 58.com, which became the leading online classifieds site in China. At the time of the firm’s investment, revenues were less than $10 million and rose to $1.9 billion in 2018, making 58.com one of the largest online classified businesses globally. In partnership with Warburg Pincus, the company was able to complete an IPO on the New York Stock Exchange in 2013. Warburg Pincus supported 58.com in making several key senior hires and assisted in restructuring the company’s information technology systems. Warburg Pincus also worked with the founder to successfully engineer the merger with Ganji, the No. 2 player in the space, to create the dominant online classified platform in China. Warburg Pincus exited 58.com in 2015.
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