58.com Inc., currently the largest online marketplace in China that serves local merchants and consumers, reported their unaudited financial results for the quarter ended on the 30th of September 2014. The total revenue of the said company amounted to US$72 million. This revenue represents a 72.9 percent increase from last year’s third quarter’s revenue of $41.6 million.
The total membership revenue is $37 million, which is a 52.7 percent increase from the membership revenue of the same quarter last year. This increase is said to be due to the rapid increase of the paying merchant members.
On the other hand, the total marketing services revenue amounted to $34.9 million. It represents a whopping 103.7 percent increase from last year’s third quarter marketing services revenue of $17.1 million. The increase was due to the continuous increase of user traffic and the growth in their bidding services.
Michael Yao, both the Chief Executive and Chairman of 58.com Inc., expressed how pleased he is to report a much stronger than expected performance. He stated that the 58.com Inc. continues to attain its momentum, which is proven by its growth in overall traffic. He also added that the mobile traffic contributed a lot to their success.
