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Carlyle commits to Chinese classified ads with minority Ganji.com investment

13 Aug 2014

online shopping retailUS buyout giant The Carlyle Group has made a minority investment in Chinese online and mobile classified ad business Ganji.com.

The company, which was launched in 2005, provides listing across categories including recruitment, housing and local services to more than 350 Chinese cities.

Carlyle managing director Eric Zhang said, “Ganji.com is led by a seasoned management team and has established a strong market position in China’s online marketplace with a proven business model.

“We believe in Ganji.com’s growth prospects, and look forward to working with Mark and his team to support the company’s continued growth and expansion through Carlyle’s global resources and industry expertise.

“Ganji.com is well-positioned to benefit from the evolution of industry digitalization, high demand for online classifieds and local services, an enormous internet and mobile internet user base as well as an increasingly sophisticated e-commerce culture in China.”

Last month private equity major KKR agreed to buy 49 per cent stakes in Swiss media enterprise group Ringier’s subsidiaries Scout24 Schweiz and Omnimedia.

Scout24 Schweiz owns online marketplaces for motor vehicles autoscout24.ch and motoscout24.ch and real estate immoscout24.ch in addition to general classifieds marketplace anibis.ch.

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