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58.com Inc (WUBA US)

Year: 2020

Chinese local life service platform 58.Com listed on the NASDAQ in October 2013. It was attacked by short-seller Grizzly Research in February 2020 alleging that it was overstating revenue and that its best businesses were being spun off to management at below market prices. In April, the company announced that it was to be taken private. Grizzly then issued another report questioning the credibility of the privatisation offer. However, it went ahead in September 2020. As such, the allegations remain unproven.

Last updated June 2022.

The information on this page has been compiled from publicly available sources. GMT Research Limited has not verified the information and does not warrant its accuracy. Any claims made or views expressed are not necessarily those of GMT Research Limited.

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