Venture-Backed 58.Com To Acquire ChinaHR.Com

New York Stock Exchange-listed Chinese Craigslist-like platform Inc. has acquired online recruitment platform for an undisclosed amount to expand its human resource services, according to an announcement posted on the company’s Weibo account.

The transaction follows a US$1.6 billion deal last month, in which is to acquire a 43.2% stake in rival’s parent company, international recruitment firm Ltd., is to exit the Chinese market along with the sale., which already operates a large online recruitment section on its platforms, plans to continue running independently under the same brand.

" is a local Chinese Internet company…’s brand will help expand its online recruitment services and may change the sector’s market composition," says the statement.

The deal team at has been busy lately, striking transactions including buying online interior decoration service platform To8to, real estate listing platform Anjuke, online recruitment platform, and investing in designated driver reservation app maker eDaijia.

Private equity and venture firms Warburg Pincus, SAIF Partners, and DCM own interests in

China Expert Network
China Expert network