From foe to friend: China's rivals merging
- By Guo Yiming
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E-mail China.org.cn, October 14, 2015
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CEOs of 58.com and Ganji.com, both Craigslist-style classified services, cheer for their tie-up on April 17, 2015. [File photo] |
New York-listed 58.com, a Craigslist-style classified service, agreed to merge with arch-rival Ganji.com this April to create what will be one of the largest specialized online classified companies in China's booming mobile internet space, as it faces mounting pressure from western investors to place more focus on shareholder value.
The two companies continue to operate independently, while the two CEOs will run the joint company as co-CEOs.
The tie-up still faces problems on integrating overlapped services and handling the collision of enterprise cultures.
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