58 Daojia

Founder / s: Mr. Michael Jinbo Yao
Key people : Mr. Michael Jinbo Yao, Chairman and CEO of 58.com

Subsidiary of 58.com

Founded in September 2014, 58 Home is a multi-category local services platform in China. It provides information on and access to high-quality offline services such as cleaning, moving, babysitting, and many other categories in roughly 30 cities in China with its location-based order processing system, 58 Home’s platform directly connected customers to the nearest independent service providers.

Following the completion of this Series A financing funding, 58.com will maintain majority ownership of 58 Home. With the proceeds from this equity funding, which values ​​58 Home at over US $ 1 billion on a fully-refined basis post- Intends to continue to enhance the platform with further investments in marketing, research and development, and other operating initiatives. It will also explore investment opportunities in new startups and business ventures in China’s rapidly expanding home services market.

Mr. Michael Jinbo Yao , Chairman and CEO of 58.com, commented, “We are excited to welcome Alibaba, KKR and Ping An as partners as we develop 58 Home into an ecosystem that collations our many users with local service providers. 300 million and growing population of digitally literate middle class consumers in China has created a huge but still extra untapped market for online-to-offline home services. There is a strong need for experienced, trustworthy and effective home service professionals in China , and 58 Home is in a unique position to lead this local services revolution.