58 the city to seek domestic acquisition opportunities to promote local information services development

Beijing time January 15 Morning news, in its Chinese counterparts, the largest IPO of the 58 city companies will seek domestic acquisitions opportunities to promote the development of local information services.

58 Yiu Jingbo, chairman and CEO of the city company, said in an interview on January 10 that the company now has more than 300 million dollars in cash. is looking for China to provide small and medium-sized city information search company.

"It won't be long before most of our customers will be able to access our platform via mobile devices," Yiu Jingbo said. "We want to invest most of the money we raise from IPOs in the mobile industry." He also said the company's first priority this year was to develop the mobile industry. About 40% of the company's monthly active users are accessing the platform through mobile devices. Yiu Jingbo hopes that by 2015 this figure will exceed the number of people accessing the platform from personal computer terminals.

Alibaba, China's largest e-commerce company, has also dabbled in second-hand car and housing deals through its auction platform, Paimai.taobao.com.

To boost competitiveness, 58 companies will stick to their focus areas when developing mobile operations, including apartment rentals, job requirements and second-hand car deals, Yiu Jingbo said.

The company's third-quarter revenue rose 78% to $41.6 million, thanks to an increase in the number of merchant members and online work and real estate transactions. In the third quarter, the company's profits amounted to $8.49 million trillion, reversing a 6.3 million dollar loss over the same period last year.

In the third quarter of last year, the number of merchant members rose by 73% to about 353,000, according to the November results Conference. More than 4 million businesses use their services.

The company expects fourth-quarter revenue to be between 4.1 million and 4.3 million dollars.

Yiu Jingbo said he was looking for opportunities to expand overseas, but he did not disclose which market the company would expand specifically.