Guazi Closes New US$204.5 million Round of Financing

2016-03-29 20:00 1264

BEIJING, March 29, 2016 /PRNewswire/ -- Inc. (NYSE: WUBA) (collectively with its subsidiaries and other consolidated entities, ""), China's largest online marketplace serving local merchants and consumers, today announced that Inc. ("Guazi"), the Company's minority-owned market-leading consumer-to-consumer (C2C) used car trading platform, has closed a new US$204.5 million round of equity financing with participation from a number of globally recognized institutional investors.

Founded in 2014, Guazi is a rapidly growing, leading C2C used car trading platform which directly links individual car sellers and buyers. Guazi has greatly improved its market penetration, strengthened its used car network and developed relationships with auto-industry partners.

Mr. Michael Jinbo Yao, chairman and CEO of commented, "I'm pleased to see Guazi receive such a strong vote of confidence in its future from global sector-focused investors. I believe this demonstrates the soundness of our strategy and validates the significant growth opportunities that we see in China's rapidly transforming used car market. By leveraging its highly experienced management team and's continuous traffic resources and support, Guazi is well positioned to offer a better and higher quality used car trading service."

About Inc. Inc. (NYSE: WUBA) operates China's largest online marketplace serving local merchants and consumers, as measured by monthly unique visitors on both its website and mobile applications. The Company's online marketplace enables local merchants and consumers to connect, share information and conduct business.'s broad, in-depth and high quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers.'s strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on, please visit

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For more information, please contact: Inc.


In China
Mr. Christian Arnell
Phone: +86-10-5900-1548

Ms. Linda Bergkamp
Phone: +1-480-614-3004

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