58.com announced today merger of Anjuke Inc., a Chinese property site launched in 2007. 58 Anjuke Property Group will be established to operate all real estate-related businesses of the two companies, according to an internal mail by Yao Jinbo (also known as Michael Yao), CEO of 58.com.
Starting off with second-hand residential real restate, Anjuke now also operates Aifang.com for new property, Haozu.com for apartment rentals and Jinpu for commercial real estate. Anjuke connects users and agents or brokers and charges the latter for performance-based advertising or search marketing.
58.com, one of the leading Craigslist-like listing platforms in China, has a sub-channel for second-hand real estate listings. 58.com’s overall business model is the same with Anjuke’s.
The financial services 58.com has been developing will also be available for Anjuke’s customers, according to Mr. Yao.