(Chinese Version)

“I think now Yao will be glad that he decided to merge with Ganji.” Yang Haoyong, founder of 58 told the Economic Weekly on April 23rd, one week after the merger. The very Mr. Yao he mentioned in the interview was Michael Yao, founder of 58 (NYSE:WUBA), and Yang’s greatest nemesis. 58 and Ganji had been competing against each other for over a decade in the classified site sector, and everything finally came to end after 58 and Ganji merged. 58 and Ganji together dominate this particular sector, and this is the second case where the dominating top two companies in a particular sector chose to merge.

On that particular day of the merger, MeiTuan, one of the biggest rivals of 58 and Ganji, officially launched its to-your-door services platform that provides services such as housekeeping, hairdressing, and car washing in Beijing, Shanghai, Guangzhou, Wuhan, Chengdu and Hangzhou. Dudu nail expert, E Jiajie, Cloud Housekeeping and Ganji Car Wash (Yes, MeiTuan did cooperate with Ganji in this field) have all joined this platform and are valuable partners of MeiTuan. Yang Haoyong concluded the merger of Ganji and 58 in two sentences “Now we have one less competitor to worry about and one more ally to count on. We used to fight only with 58, but now we fight along side together to beat other major platforms as well, since the market has changed and our rivals, such as JD, MeiTuan, and Dazhongdianping, have also changed accordingly, with Internet giants such as BAT are also deeply involved in the battlefield.”

In the afternoon of April 24th this year, Yang and Yao joined each other at a photo studio around the Lama Temple and had an interview with the Economic Weekly. During the interview, Yang once again brought up the to-your-door service project, and they had a thorough discussion on this very matter. “It’s hard to say that MeiTuan could pull this off,” Yao concluded in the end.

Meanwhile, Liu Qiangdong, founder and current CEO of JD Group, announced that the company would need to focus on developing JD To Home during an internal meeting, an O2O project that JD is now trying to roll out. In Liu’s plan, fresh goods and groceries will be delivered to the customers’ households within 2 hours if the designated location is within 3 kilometers in big cities. In fact, Liu sees it as his second start-up project and he’s working really hard on this. The battle for O2O market is already on fire right now.

On the day for photo shoot, Yao arrived early and the makeup artist had already finished doing makeup for him before Yang entered the dressing room. “You are here” “Yep.” Simple greetings and answer. They almost seemed like two new recruits that had just met their future colleague in a company.

When Yang was getting his makeup on, Yao was about to go to anther room, but he changed his mind. He sat down on a chair next to Yang and started “The market expects a lot from us. People are looking forward to seeing us doing great in actions. I think the budget for advertisement can be cut down by 20%.” As a matter of fact, saving the budget for advertisement has been a constant topic discussed in their meeting room. Several years ago, 58 and Ganji were still at war, and they put great investment into advertising, burning literally tons of cash. This year, the total cost of both companies in advertising hit over 2 billion RMB, ranking the fifth in the whole Internet industry in China.

Then, these two industry leaders started talking about their views on other competitors and their recent schedules.

“You want to meet the team in Tianjin alone, or should I accompany with you?”  Yao asked.    

“Let’s go together.”

“Great, I will have my driver pick you up.”

That’s how the story went. 58, a company listed in the US, merged with Ganji, its seemingly weaker rival that didn’t have the chance to realize its dream for the IPO. 10 years ago, Yao and Yang, dedicated to satisfying people’s everyday needs, both went into classified sites sector, launching an Internet democracy campaign in China and eventually creating thousands of job opportunities. They are the very examples of “the extraordinary little men” in the wave of history, which was defined by Hobsbawm’s definition. At present, they are certainly on the right track.

Cease fire: “In fact, it almost feels like it was 58 that’s been chasing Ganji all along…”

On April 17th, 2015, these two largest Chinese classified sites finally reached an agreement on their merger and made an official statement nationwide.

At 6 pm that day, reporters all rushed into a five-star hotel near the third ring road in eastern Beijing to attend the news conference that was scheduled only 2 hours beforehand. It was so sudden that the operation team didn’t even have the time to decorate the conference room. No welcoming flower, no background board, there were only two white sofas on the stage. The team didn’t even have the time to print out the announcement transcript and had to send the digital transcript to journalists through email and WeChat.

Pretty soon, the press conference started. Yang and Yao appeared together in the conference room and sat facing a crowd of reporters. On that particular day, two industry leaders, who had been on each other’s throat for a long time, finally became friends. However, their nature didn’t change much.

Yang, who’s in his 40s, wore a sport jacket, a khaki pant and a pair of caravan shoe, completely in his casual mode. As for Mr. Yao, who’s only two years younger than Yang, however, was in a neat business suit.

“The cameras love him,” Yang always makes these similar comments on Yao. “ People want different things, and their appearances will give you some clues of what they want.”

“All along, it was 58 that’s been chasing Ganji.” Yao was very straightforward.

On October 31th, 2013, 58 was officially listed on the NYSE Euronext, collecting an capital of US$187 million. And eventually, its market value hit US$2 billion.

After the IPO, Yao suddenly had the urge to stop the war between him and his nemesis for the first time. He texted Yang “Let us talk.” Unfortunately, Yang chose not to talk, not even a meeting.

“Before the whole IPO thing, I had never thought of stopping the war.” Yao later told the Economic Weekly “My goal was very simple back then, that was, to get my company listed and be successful. Getting listed meant we would have more money to do more things, and we would know how much we worth to the public.” Yao thought being listed would be a bargaining chip for the merger, however it didn’t go as planned.

“I thought I could get it done this time.” Yang didn’t give up even though Ganji failed to get the IPO. He had always believed that he knew everything about Yao and 58.

Yang’s from Anhui, a typical entrepreneur majored in science and technology in college. After graduating from China University of Science and Technology with a master degree of engineering, he went for a master degree of computer science in Yale University. After that, he started his professional career in some tech company in the Silicon Valley where he worked as a developer for 4 years. In 2005, Yang went back to China with the idea of building a Chinese version of Craigslist as his very first start-up project. In March that year, Ganji was launched. 4 months later, Yao also started to make his moves and on December, Ganji’s destined nemesis, 58, came online. That’s the starting point of this 10-year-long war.

Yao’s from Hunan province. Although he didn’t have the experience of working in the Silicon Valley, he possessed another special quality—— he’s a successful entrepreneur and had already succeeded in kickstarting quite a few projects. He started as a domain trader and his trading platform was acquired by the net.cn in 2000. The next year, he teamed up with others to found Xueda.com, which got listed in 2010. Of course, in 2005, he founded 58.com in hopes of making it the top entry for local services as a classified site.

After getting listed, it occurred to Yao that it might be a great time to merge with Ganji. However, Yang was well aware of Yao’s weakness.

“He was preparing for the listing and trying his best to make the earnings report look good. The company’s performance was exceptional in the first two quarters, but crumbled in the last two. It was unsatisfactory. So they went into defensive position, exactly the time for us to strike. ”

However, Yang was only half right about Yao. Several senior executives from 58 told the Economic Weekly that Yao had changed much since the IPO. During that period, Yao came up with lots of new ideas. In the meantime, getting listed would mean more exposures to its rivals for 58. Yao could have as many ideas as he wanted, but he had to make sure his company could continue to develop steadily. He could not lose the main battle after all.

Although Yao was turned down the first time he tried to make peace, he didn’t stop trying. In the summer of 2014, he decided he would change the game a bit by sending a representative as a go-between.

The final blow: arranged by China Renaissance, Yao and Yang agreed on a meeting for the very first time…

The opportunity for a meeting between Yao and Yang came unexpectedly. In 2014, Bao Fan, CEO of China Renaissance, together with the managing director who’s in charge of the merger, Wang Lixing, went to visit Yao. They were there to talk about something else, but Yao unexpectedly started discussing about Yang.

Yao knew that these two people before him were extremely smart and capable. For the past few years, they had been helping Ganji with financing, and they’re also shareholders of Ganji. Ganji had raised financing for five rounds in just a decade, and China Renaissance had been its financial advisor for the first four rounds in exchange of a part of the company’s shares, making it one of the nine shareholding organizations of the company.

More importantly, China Renaissance successfully helped achieve quite a few merger cases. In the spring of 2012, the top two video sites in China, Youku and Tudou, merged, in which case China Renaissance played an important role. Also, China Renaissance helped the merger of DiDi and KuaiDi, which was accomplished in February this year. Later in March, 58 aquired Anjuke for US$260 million, in which case China Renaissance also participated.

The merger of 58 and Ganji had great potential but also great difficulty, which made Bao Fan and Wang Lixing very excited. For a whole year, they had been working their ways round the shareholders and founders of both companies, pulling all the strings that were needed to make the merger happen. The process was slow but it went smoothly. In the summer of 2014, that was the time Yao clearly wanted to stop the war while Yang was all up for a fight than any other time. After 10 years, Yang finally planned to mobilize all his forces to launch the final assault on 58 and show Yao everything he had got.

In June, 2014, Tencent invested US$736 million and subscribe 19.9% of 58’s shares. Two months after that, Ganji announced that it had received the fifth round of financing that’s about US$200 million from the Tiger Fund and the Carlyle Group. It appeared that both sides were preparing for a forthcoming war with investors continuously pumping fuel to them. However, little did people know that China Renaissance was turning the tide and made it possible for the two companies to merge.

“Speaking of the actual capability, Ganji can be ranked as the top three among all the Internet companies Sequoia Capital has ever invested.” Yang still remembered this statement from Ji Yue, who’s the fund director of Sequoia Capital China and one of Ganji’s shareholders. What Ji Yue said encouraged him greatly. Plus, the company’s performance had been great for two years and they were making great profits, even outperforming 58. Given the circumstances, he though his company would surpass its biggest rival and became on top real soon. As a result, China Renaissance couldn’t convince him to merge with 58. Yao was very upset for being turned down again and he openly stated that Ganji’s no match to 58, which triggered a new war again.

However, China Renaissance didn’t lose hope and remained patient. “When you are making a merger happen, you have to be patient and stay calm. You have to wait for the right moment to make your move.” Wang Lixing explained to the Economic Weekly. “Sometimes you might need to wait for another three or six months if the situation wasn’t good. Things change rapidly and you have to seize the opportunity to make it happen. What we do is to make sure we don’t miss the opportunity and that we can pull it off in the end.”

China Renaissance’s merger and acquisition division has been adopting one mechanism for years—— they keep updating potential mergers to a list and keep close tags on them. Every merger that seems to be feasible, Wang Lixing would put it on that list and keep on observing it before making any move.

The right moment came after the spring festival in 2015

“It’ the change of the market that turned our heads around.” Yang said. In the late 2014, through integration and self-building, Ganji rolled out its O2O innovative projects such as Ganji Good Cars and Blue Collar Advertise, which needed great attention and investment. In the first quarter of 2015, Ganji’s budget for its main businesses that would compete directly with 58 had hit the peak in ten years. But what made him change his heart was a different matter: the heated subsidy war among the ride-hailing apps.

“We have been fighting a war for many years, but what DiDi and KuaiDi were doing was even bold in our eyes. ” Yang once commented to the Economic Weekly on such matter back in September of 2014. At that time, he saw the cruel nature of the Internet sector, especially the fierce competition of the O2O market.

Then he finally realized that 58 and Ganji had spent too much time in attacking each other. He knew if the war between Ganji and 58 continued to escalate, they would both miss many opportunities to seize the market.

For the very first time, Yang started to consider the possibility of merging with Ganji. It’s a dilemma, apparently. If he chose to team up with Yao, that would mean the loss of independence. But if he stuck to the IPO, the company would be held back by the ongoing competition, which would drain the company. Either way would lead to a painful situation.

Wang Lixing gave a rather vivid metaphor about this “Apple and pear, which tastes better? This is not a question can be answered if one could not change his ways of thinking. It’s not a simple math like comparing one and two.” In the classified site sector, continuous war is no good to any company. Ganji and 58 couldn’t make any more of juice from their war. Both 58 and Ganji were trying to dig deeper into the O2O sector. 58 and Ganji chose different directions to go due to the fact that the market’s huge and it’s the phase for diversity. They didn’t want to step on each other’s toes this time too early.

After the spring festival in 2015 and inspired by the merger of DiDi and KuaiDi, Yao and Yang finally met up for a meeting arranged by the China Renaissance and discussed about the possible merger.

For years, these two industry leaders hadn’t had any personal connection and every time they met each other the air was filled with awkwardness and hostility. “Last year, I spent millions of dollars on competing with you! All because of this stupid war! ” Yao said to Yang.

During the most crucial two weeks: every shareholder wanted to have more shares instead of cash

“It’s the right thing to do, something that happened naturally!” When talking about how he felt about the decision two months later, Yao was still determined.

Even though Yang had expressed his willingness to talk, but it wasn’t until March that both parties had any actual negotiation. China Renaissance, as one of the shareholders and one of the nine financial advisors of Ganji, participated in the whole process.

In the late March, just two weeks before the official announcement came out, Ganji was having active conversations and interactions with the board. According to Wang Lixing, it felt like they were having a meeting with the board once every two days. “The meetings focused on one single topic, that’s what would serve the best interest of the company. People were expressing their ideas on whether something would be beneficial to the company and if plan A would not work, would there be any other options.” Wang said.

Besides briefing on the development of the negotiation with 58, the board of Ganji also had in-depth discussions on whether to merge with 58 or not. To make this deal happen, the ultimate result must be beneficial on different aspects to both sides.

The same thing happened to Yao and his shareholders at 58. Debates and fights were inevitable. They needed to figure out every detail and evaluate any possible risk that’s brought to the table.

In order to bring about the merger, Yao was under great pressure just like Yang “Before jumping to any conclusion, we need to consider others’ opinions—— the shareholders, the staff, our senior executives, clients, even our friends. We need to know whether they would show their support. If not, what would you do?”

The negotiation continued to the early Apirl and 58 and Ganji finally reached an agreement on the basic framework of the merger and each others’ terms. On April 14th, both sides signed a memo on their strategic consolidation, which covered the terms that Yao and Yang cared the most, such as their roles in the company, the distribution of the voting rights and the businesses, future projects etc. Both companies would split off the shares at 5:5(the foreign investments of 58 were excluded) and the new company established after the merger would adopt the same brand strategies of both sides. Ganji and 58 would run independently and their management team and staff structures would remain the same as they were.

Ganji’s board chose the Westin Hotel at the East Third Ring in Beijing as the stage to show the world what’s going to happen. After signing the official documents at the hotel, the two founders and their shareholders opened some champagne and toasted to their success and future cooperation. But when asked about that night, they appeared to be quite calm, as if nothing really happened. “From what I saw, I think it was in a presidential suite. It’s really fancy,” Yang said. “We signed the paper and we drank the champagne, then we just left.”

In fact, things were not over yet even though the paper had been signed. Yao and Yang both had their own plans.

Yao didn’t want both companies’ senior executives and staff to hear the news from the press instead of him. Yang was also thinking about the same thing. Once the night was over he sat himself down in front of the computer and wrote a notice to the whole staff of Ganji.

After that night, people returned to the conference room and started to have another negotiation that was directly related to the interest, about the deal structure.

According to the exchange agreement, 58 would offer both cash and shares in exchange of splitting off 43.2% of Ganji’s shares. Beside the pricing of the shares, they also encountered two major disagreements: one’s that how much proportion of shares Yao would be willing to offer to make the exchange with Ganji, and second’s that how Ganji’s shareholders, including Yang, would changed the internal distribution solution according to the shift brought by the exchange.

Shareholders all wanted to have more shares instead of cash. They all agreed that the war of O2O market had just began and O2O had a promising future, meaning it would bring great profits in the long run. In this case, who cares about cash?

To make everything set, negotiators spent five or six days inside an office of a law firm located at the international trade zone, where they kept fighting for their interests.

During that time, Financial Times reported on April 15th about this possible merger. Right after that, 58’s stock price jumped 33.52% and hit US$67.87 per share. 58’s market value also jumped 30% to US$5.527 billion.

In the end, Yang made the exchange, which showed he’s not willing to abort the plan at the moment. Every investor and shareholder of Ganji except him must accept the mixed proportion formula, cash + shares. Some shareholders with preferred stocks gave up the chance of getting a higher proportion in the exchange and indirectly helped Yang.

“This was the first time I had been so close to the actual money.” Yang joked to the journalists after everything’s set and ready to go. IPO means a lot to an entrepreneur and Yang was no doubt disappointed. Yao saw that pain “Every entrepreneur has a thing for the IPO. Yang’s an engineering and science student, he’s rational and he thinks with logic. He knew this merger would bring great benefits to the shareholders and the users.” They all made their sacrifice. Yao had to give up his shares of 58 and let Yang have the same power as he does. The investors admired him for that.

“At the end of the day, 58 agreed to merge with Ganji with 5:5 split in many things, which indicated that Yang was successful at building and running Ganji and it obviously gave 58 great pressure. These two founders were not simple minded, and therefore they chose to cooperate with each other to build up their O2O businesses. ” Chen Weiguang, the early investor of Ganji and a partner of BlueRun Ventures, told the Economic Weekly.

“This merger is great, makes everyone happy. If they didn’t merge, they’re still charities. They had finally become business organizations after the merger. They are now enterprises with great ambitions that are very possible to achieve great things in this Internet era. BAT has nothing to do with this, nor the Wall Street, but the broader picture, the fierce competition in China.” an early investor from the Tiger Fund said.

Tencent, a major shareholder of 58, subscribed the new shares of 58 worth US$400 million at the price of ADS US$52. The wealthy Tencent got to maintain its share proportion by this action, providing a crucial capital for 58 to finish the share swap in the mean time.

“I couldn’t call it a merger by this moment. The deal is not completed yet.” Wang Lixing emphasized, calling it a win-win cooperation instead of a merger. After 58 finished the 43.2% share swap with Ganji, it remains unknown how they would put the other half of the shares of Ganji into the new company born from the merger. Nobody reveals anything.

Milestone: the biggest game-changer is humanity

At the conference on April 17th, Yao said that several hours before he and Yang walked into the conference room, there were still many uncertainties in the merger plan. “Everything that had happened for the last two weeks seemed like a dream. And the biggest game-changer was humanity. ” Yao commented.

Yang, who was sitting next to him, then added “It’s crazy. We can even write a script for a soap opera based on this.” During the interview, Yao showed his eloquence, which was quite predictable for the fact that he learned from the best, from the major professional talent reality show, Only You. Jokes from Yao were well-received by the journalists. Yang, for the most of the time, was listening with a light smile. As the CEOs of the new company born from the merger, they were quite in sync and appeared to be in control. They’re not competitors anymore. Now, they are colleagues.

Few people might know that one day before the news conference, Yao and Yang, who had different paths of career life, were bonded together for the same goal they had been fighting for. As the negotiation came to an end, they finally had the chance to sit before each other, and talked like friends.

What were they talking about? According to them, they didn’t try to rush any conclusion out, but tended to discuss about opinions on the merger from their staff and the media. They knew by heart that even though everyone said this’s a great opportunity, it’s not easy to achieve success, possibly only with one percent of chance of succeeding.

After the news conference on Friday, people finally stopped calling Yang, giving his five hours to have a good sleep.

Yang’s profile photo on WeChat’s a big bottle of Fulingmen sesame oil. He likes to play with things. Once, he was trying to fix something and in the end he made it by putting on some sesame oil. That’s why he changed his photo to the sesame oil. “Small things can make a big difference,” He said. “Sesame oil helped me fix a lot of things, and sesame oil is just one of the ordinary things.”

“The IPO feels flat compared to this moment. I think the investment banks would prepare some gifts for us.” Yao turned around and picked up a palm-sized house-shaped commemorative plaque from his table. On the plaque wrote the deal date and transaction amount of 58’s acquisition of Anjuke. It’s a gift given by his financial advisor, China Renaissance.

Yao put down his plaque, and added “ I don’t have any unforgettable moment to share. We all made sacrifices and we spent a lot of time and energy on this. It was a great test to us, a huge test.”

The post classified site era: groups of major and comprehensive e-commerce platforms, including BAT, are eyeing the O2O market

At present, these two founders’ main goal is to get the merger well-perceived by every staff in the company. Right at the end of the negotiation, Yang gathered every VP senior executive to his house and held a private dinner, which was prepared by his wife. He chose this light and relaxing environment to talk about a serious topic: the outcome of the negotiation on the merger. He wanted to see how his staff would react.

“The sales and marketing department was a bit upset, since we were on the rise and everything seemed to be promising.” Yang had to admit that some people were disappointed. Yao received similar reactions from 58, but still, most people were happy. Yao knew it long before that the marketing department would feel upset about the merger, and therefore he set up new tasks and goals for the staff very quickly, helping them to find new business explosion points in a much broader and more complicated market. Yao and Yang all stated that the merger would not result in any form of unemployment and there were actually a lot of positions that were needed to fill in.

“We had been chasing each other for ten years,” Yao said, joking on the past “Everyday, whenever or wherever, I had been thinking something about Yang Haoyong. I should have been thinking about my wife, shouldn’t I?” When the competition evolved to the O2O sector, 58 and Ganji both needed to have the ability to transform themselves according to the changes quickly, whether it’s the business coverage or strategies against different rivals. Everything had changed in a short time.

In every specific area, 58 and Ganji are facing countless competitors. For sure, 58 and Ganji are now facing more competitors from the subdivision of the O2O sector than ever before in this great time. In 2014, the number of entrepreneurs that were kickstarting their O2O start-ups in China was even larger than that of the gold seekers who went to San Francisco in 1840. A venture capital firm once did a research and learned that almost US$600 million had been invested in different O2O start-ups. MatrixPartners alone has invested in twenty 020 start-ups. Besides these newly emerged competitors, giants such as Meituan, JD, Ctrip, and even Baidu, Tencent and Alibaba are pressing to dominate the O2O market.

After a year of hard work, 58 and Ganji are making progress respectively in different areas such as housekeeping, cars, real estate, and social recruitment. That’s why both companies’ shareholders and founders were very confident at the first place and all thought that the merger would be a case where one plus one equals more than two. Under the merger framework which the CEOs of both companies teamed up while the operation teams run independently and both brand names continue to co-exist, Ganji focuses on building its blue collar recruitment project and car business while 58 will focus on its to-your-door services and real estate business. These four things are called the Four Markets Of Billions.

“Just look at the value assessment, it’s a win-win cooperation.” Wang Lixing said.

The direction that local service classified sites are marching in is definitely going to lead to a deeper and vertical aspect. To get to the nature of local service business, they have to build a close-looped O2O business ecosystem.

When we reach this stage, then we can call it an actual O2O centric platform. On this foundation, Ganji and 58 can continue to build an O2O ecosystem, cracking open different other businesses along the way.

On December, 2014, Ganji’s first O2O project, Ganji Good Car, came online, and Yang Haoyong announced that the US$100 million they got from the E round of financing would be put into this project. Ganji Good Car adopts the C2C model, in hopes of taking back the profits taken by the 4S stores and second-hand car stores to the traders themselves.

Another major O2O project was Yi Zhao Ping, a LBS based recruitment app designed for the low rungs of the workforce, the blue collars. According to Yang, Ganji’s revenue target is to hit 1.5 billion RMB by the end of 2015.

Besides acquiring Anjuke for US$267 million, and Tubatu for US$33.72 million, which aimed to dominate the online real estate agency and home decoration markets, 58 is also working on to make 58 To Home successful. Yao revealed that 58 would put another US$300 million into this project and redefine the service industry as a result.

On April 21st, three days after the merger was announced, 58 To Home’s second news conference also came. At the news conference, 58 publicly stated that this project would be the Tmall in O2O sector. According to Chen Xiaohua, senor strategist of 58 and CEO of 58 To Home, teaming up with Ganji signified that we have entered the post classified site era. Chen’s goal is to build another company that would worth billions of dollars. In the next 5 years, 58 To Home will be able to provide ten million job opportunities for the unemployed workfoce. Currently, there are three sections on 58 To Home, which are housekeeping, manicure, and delivery. 58 To Home plans to include services such as massage, makeup, babysitting, and car wash in the near future as well.

One week after the merger, Ganji announced that it would invest another US$100 million in the Good Car business. On February 24th, which was the day for photo shoot, Yao told Yang a very good news —— the trading section of 58’s C2B car business already had a daily purchase amount of 200 to 300 on average.

Yang was very happy to hear that news. After the photo shoot, he rushed back to his office at Ganji and attended a victory meeting. The big celebration was for Ganji Good Car division, whose volume of trade hit 100 million RMB before May came, achieving the goal successfully. As Ganji and 58 now have the advantages of business and traffic cooperation, and cost cuts, Yang even joked that one week after the merger, the KPI of Ganji’s new business had doubled for the traffic cooperation between the two companies. He also said that Ganji would also promote its businesses through 58’s platform. “As the traffic doubles, so will the KPI!” Yang was very excited.

Yao’s really positive about the future prospect. In his opinion, 58 and Ganji will become a big platform where they can achieve almost everything and no competitor will be able to fight against them. He also said that 58 and Ganji had another advantage, which’s a very powerful and experienced team. This team of 58 and Ganji would spare no effort to become on top. And no matter how small or how big the tasks are, this team will accomplish them without any preference and make sure their efforts count.

“Anyhow, to achieve this goal, we will have to destroy anything that stands in our way.” Yao was calmed, knowing that bloodshed and battles are inevitable in the O2O market.

“It’s just like the war in Europe had just ended, the pacific was then just started” Guo Yi, the general manager of 58 To Home joked.

(The article is published and edited with authorization from the author @Judy·Business&Life  from TMTpost, please note reference and hyperlink when reproduce.)

Translated by Garrett Lee (Senior translator at Echo，working for TMTpost)