The corporate has sold part of its stake in online car trading platform Chehaoduo for more than $713m to an unnamed third-party investor likely to be SoftBank Vision Fund.
Online classified listings operator 58.com has agreed to sell part of its stake in China-based automotive marketplace operator Chehaoduo to an unnamed third-party investor for more than $713m.
The corporate did not identify the purchasing investor, but it released the news on the same day as Chehaoduo secured $1.5bn in funding from SoftBank Vision Fund, which is managed by telecommunications conglomerate SoftBank.
The transaction is subject to unspecified closing conditions. 58.com will continue to own a minority shareholding in…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
