58.com – “Chinese Craigslist” – Has First Earnings Call After IPO

Chinese online classifieds company 58.com Inc (NYSE:WUBA) had its first earnings call as a listed company today, following a 92% rally since its IPO, and while the current valuation may be somewhat high the company is aiming for aggressive expansion. Revenues were up 77.6% year on year, almost entirely driven by the increase in companies paying subscription fees to list their products (a 73% increase), but the recent introduction of real-time bidding (RTB) gives the company a lot of potential upside, and its market share in China’s online retail space has been steadily growing. 58.com’s growing market “We think China’s local…