The market value is only 8.3 billion, privatization and delisting are announced, and the "magical website" has also been brilliant.

Listing is a besieged city. People outside the city want to get in, and people in the city want to get out.

The importance of listing for a company is self-evident. Some companies desperately want to be listed, and some companies are delisted after listing. There are also companies that voluntarily delisted, such as 360 and Alibaba, which voluntarily delisted. Reshuffle the cards for your own destiny.

Looking back on the glorious moment of listing in the past, I feel sad now. In 2020, two major Internet companies announced their privatization and delisting, one is Sina and the other is 58 Group. After reaching the stage of delisting, very few can return to the altar. Qihoo 360 was delisted from the U.S. stock market. After returning to A-shares, its market value increased from US$9.3 billion to US$60 billion. For 58.com, privatization may bring a new turn for the better.

“58.com, a magical website” is an advertising slogan spreading in the streets. Some people joke that 58.com is the first wave photographed on the beach by the Internet "Sina". This is true. As the "generation" of the Internet, 58.com seized the dividends of classified information and reached the top, but it was also reduced to the second tier due to lack of innovation.

Everyone knows that Cai Wensheng made his first pot of gold by speculating domain names, which led to the birth of Meitu Xiuxiu. The history of Yao Jinbo's fortune is also marked by domain names. He turned domain names into a business and established "Domain Name City". After Domain Name City was acquired by Wanwang, Yao Jinbo also became the vice president of Wanwang.

For Internet trendsetters, it is impossible not to have some ideas. In 2005, Yao Jinbo resigned from Wanwang and founded 58.com. At that time, the domestic information Internet was exploding, and the asymmetry of information led to the birth of a large number of platforms. In the era of portal websites, 58.com, which collects massive amounts of information on recruitment, real estate, vehicles, dating, etc., is naturally unparalleled.

The rise of 58.com lies in seizing the needs of users and conveying the information they need through the Internet accurately and quickly. 58.com started its own era by carving up the share of newspaper advertising. In the next 10 years, we kept moving forward. In 2013, 58.com was successfully listed on the New York Stock Exchange and became the first stock in the U.S. stock classification information.

2015 was the peak moment of 58.com, and it was also the year when 58.com entered its decline.

The indispensable characteristics of Internet companies are competition and burning money, and 58.com is no exception. After acquiring Ganji.com and Anjuke, 58.com has not made any big moves and has been indulging in its own glory. But without progress, it is the biggest setback. It is only a matter of time before we are overtaken by the "back wave".

What's more, 58.com is full of enemies. In the real estate field, there are Beike.com and Fangtianxia. In the recruitment field, there are Wuyou and BOSS Direct Recruitment. In the automotive field, there are Guazi used cars, Autohome, and Freight. Lalamove in the field, salted fish in the second-hand field. It appears to contain all service information, but is littered with competitors in every niche.

According to the first quarter financial report released by 58.com, revenue in the first quarter was 2.56 billion yuan, a year-on-year decrease of 15.5%. Net profit was 1.639 billion yuan, a year-on-year increase of 134.7%. Revenue and profits are good, but 58.com’s stock price is not as eye-catching as its business. Compared with the market value of 13 billion in 2018, the current market value is only 8.3 billion, down by one-third.

The shopping mall is inherently cruel, and the competition between Internet companies is even more ruthless. If you want traffic and scale, 58 can only sacrifice user experience. Maybe 58 is very valuable, but if it still stagnates, it is inevitable that this magical website will no longer be magical.