58 city (www.58.com) formally announced mergers and acquisitions to guest group (Anjuke Inc.), trade, in the form of cash and stock transaction amount is $267.01 million. Huaxing capital as financial advisers for the deal.
how to reside the guest group, founded in 2007, is a leading domestic real estate information service platform, the Internet site on independent access users reached 60 million. 58 city in October 2013 on the nyse, unique users close to 300 million. 58 city CEO Yao Jinbo mentioned many times in public, will invest $1 billion in investment in mergers and acquisitions. This is 58 city has announced the second wholly-owned m&a, after the end of February just announced $one hundred million level for driving school first whiff.
it is understood that after the acquisition, 58 city will set up the real estate enterprise group, integrating 58 city and settled on both sides of the real estate business, will build a new house and second-hand housing, rental housing, and other areas of the whole business. The new architecture will not affect to guest group team, to the guest will retain its website, the APP, such as brand equity, the maximum keep independence brand. 58 city will take out $10 million for housing at the same time, guest equivalence of the original team of restricted stock incentive.
58 city group will be appointed senior vice President Mr ZhuangJianDong as 58 housing room production enterprise group President, b&q, CEO of guest founder Mr Liang Weiping will stay on as chief consultant, help the two sides in the business level to realize a smooth transition. It is understood that Mr Liang Weiping will also be a second business.
58 city CEO Yao Jinbo said: “to the guest is China’s leading Internet real estate information service platform, in a second line especially coastal cities have market advantage. In the field of real estate rental especially bridal chamber, second-hand housing sales have mature experience and good market share, after the cooperation, will provide customers with a broader, more types of housing choice; Will also be for the majority of real estate agents and developers to provide more efficient and matching of online promotion service.”
how to reside the guest, chairman and CEO Liang Weiping, said: “the 58 city is China’s largest life services platform, platform of traffic advantage and the capital advantage of listed companies. At the same time, they have good driving forces, strong marketing capability nationwide. Business after the merger, in view of the synergistic effect of each other, the two sides will be benefit to the greatest extent.”
58 city CEO Yao Jinbo merger to the cause of the guest in the form of E-mail explained, the following is a Yao Jinbo internal email full text:
Ann away and 58 city real estate class:
you should see the news, I confirm that: we become a family!
how to reside the guest is the pioneer of second-hand housing network marketing, whether in the PC era are now mobile era, in the spirit of dedicated, outstanding product in leading the trend. Me a lot of people are using to guest, 58, have been put to the guest as study object, the house I live now is found in how to reside on the guest. Through many years of accumulation and precipitation, how to reside in the eyes of the guest in the overwhelming majority of buyers, agents and developers, is synonymous with online looking for a room, especially in the field of high-end second-hand housing and new homes, and a line in the major cities have huge influence.
and 58 city through ten years of efforts, has become the largest local life services platform, cross property, recruitment, second-hand, cars, pets, yellow pages and other fields, become the user’s life good helper. Among them, the real estate is one of our biggest users of channel and 58 in areas such as rent, just need to second-hand housing is to be the leader of the absolute, and we have been ground to more than 100 cities in China.
how to reside in “help people realize the dream of home” for the enterprise vision, and 58 city to become “everyone trusted life services platform” as the vision, both on the surface to be different, but both companies is to “the user first” as the starting point, all hope that through their own efforts to make everyone’s life easier and better. Freemasonry, appreciate each other, I think, this is we can walk to arrive together the most important reason.
everyone should understand the industry data, our two after the merger, regardless of from traffic, release information, or out of the effect, turnover, etc, it is absolutely the first will confirm our searching platform. We both good at points and advantages of combined will better, the combined company in the real estate network marketing market will have a stronger brand strength, will also have greater synergies. I simply list:
1, 58 city will lend to the guest brand into a new market, we will import the 58 city home buyers to new channels and let developers and users can feel better to buy a house, sell experience and effect;
2, in the field of second-hand housing, 58 city will continue to strengthen just need housing location; And how to reside the guest will continue to positioning high-end professional searching platform, continuous innovation, leading the industry; Two platforms will get through data, mutual benefit and complementarity;
3, 58 city will also be added to the guest in the rent, let both sides platform users, can have a more complete, information rich experience that rent a house;
4, 58 city financial services has been actively layout, rich in real estate financial product will be made to the guest and 58 of users, can feel more in depth and differentiated services.
combined all the concern, I explain:
a, living site, App wireless customers brand, and so keep the complete, we are very cherish to the guest’s brand and user preferences, continue to live and positioning for the high-end platform, and of all aspects of product, market and technology investment, accelerate will carry forward to the guest;
2, the combined company will continue to adhere to platform positioning. Our long-term real estate network marketing, and focus only do what you are good at, and agents, brokers, real estate developers as long-term strategic cooperation partner, not both build platform, and make your own athletes; We also welcome agents, mortgage guarantee companies, furniture, building materials, decoration companies, designers, Banks GeDai institutions such as comprehensive real estate platform and our cooperation.
3, in the past to part company send options expire, we all recognize, and in accordance with the shareholders and other institutions to withdraw from the same price as well as cash, cash stock proportion, 58 city shares will be converted to the restricted shares of listed companies RSU. In addition, 58 will grant tens of millions of dollars to the merged team employees incentives for new stock. We hope all the students in the past, the future efforts to have good returns.
4, 58 city real estate business and settled into new housing room group, 58, 58 startup east yuan zhuang zi built, will become head, 58 marketing center is responsible for the work before he management is close to ten thousand people, with 58 several years of close to double the revenue growth. I am confident he will be and how to reside the guest team together to accomplish the project of integration, let everybody can give full play to the director.
five, we will be in a more radical way into the market and research and development, and expand the scale of the teams, appropriate to better grasp the market opportunities in the future. We believe that now is just the beginning of the outbreak, we will have enough capital reserves, let us take a long-term perspective, to focus on customer satisfaction, customer satisfaction, market share, and the layout of the future, rather than short-term profits.
and we have great respect for Mike Liang will depart entrepreneurship, would advise, and believe that he will continue to new 58 as concerned about their children’s development. Thank you Mike left us such a good team, I wish everything goes well with Mike new project.
how to reside and 58 city is 8 years old company, gathered here the best of a group of people inside the industry, we have a dream, love our products, we believe that the real estate and the Internet will be more depth to greatly improve the efficiency of the whole industry, also make the process of searching more easily. 58 people, or we have a family, no longer to guests, whoever has the ability to stand out from the crowd, everyone should aim at the user’s pain points customer demand in a consistent effort.
starting today, every one of us has stood in the larger, higher and faster platform, students need to take a more positive attitude, more open to the rhythm of preparing for the future. The classmate of everyone, the real estate is a tuyere, the Internet is a tuyere, real estate + Internet is typhoon, do something together!