Venture-Backed 58.Com Acquires To8to For $34M

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New York Stock Exchange-listed Chinese Craigslist-like platform 58.com Inc. has acquired To8to, an online interior decoration service platform in China, for US$34 million in cash for a minority stake, according to a company announcement.

The deal follows the US$267 million acquisition of Chinese real estate listing platform Anjuke earlier this month by 58.com, which is backed by private equity firms Warburg Pincus and SAIF Partners.

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