Local classified site 58.com announced on Monday 300 million U.S. dollars in financing from Alibaba, KKR and Ping An Ventures.
NYSE-listed 58.com founded Daojia in September last year, an online-to-offline (O2O) platform connecting users to a broad range of services including manicures, car washing and babysitting in over 30 cities in China.
A 58.com statement said that it still retains the majority of Daojia's shares after its subsidiary's series A financing, which values the O2O platform at 1 billion dollars.
Alibaba's rivals Tencent and Baidu have their own O2O ventures, offering everything from restaurant reservations and hotel bookings to ride-sharing and ticketing. Two O2O firms, Meituan and Dianping, backed separately by Alibaba and Tencent, announced a merger last week that values the new company more than 15 billion dollars.
