December 15th, 2015 Exchanges its Ownership in Mayi for Shares in Tujia

BEIJING, June 23, 2016 /PRNewswire/ -- Inc. (NYSE: WUBA) (collectively with its subsidiaries and other consolidated entities, ""), China's largest online marketplace serving local merchants and consumers, today announced that it has completed a swap of its shares in Mighty Talent Limited ("Mayi"), a China-based short-term and vacation rental platform that was owned by Ganji, with International ("Tujia"), a high-quality vacation rental reservation platform that provides online search, inquiry and booking services of rental properties in China. As a result, has divested all its 65.7% stake in Mayi in exchange for a minority stake in Tujia.

In addition to the share swap, will acquire additional Tujia shares by investing online traffic resources, as well as US$10 million in cash and a US$2 million bridge loan for Mayi. Following the transactions,, together with Tujia's existing strategic shareholders, Ctrip (NASDAQ: CTRP) and Homeaway, a subsidiary of Expedia Inc. (NASDAQ: EXPE), will continue to support both Mayi and Tujia.'s traffic and other resources support will reinforce Tujia's and Mayi's leading position in the online accommodation sharing market.

Mr. Michael Jinbo Yao, chairman and CEO of commented, "The sharing economy in China has become one of the fastest growing market segments. Mayi's focus on consumer-to-consumer short-term rentals in tier 1 and 2 Chinese cities highly complements Tujia's strength in tourist-destination cities. Both Tujia and Mayi have been exploring and developing new opportunities in this segment for many years and we look forward to working on business integration to increase their size and scale and improve operating efficiency and financial performance. We will continue to actively look for new innovative business models in the sharing economy to deepen our strategic reach in this segment. We believe Tujia and Mayi, together, will begin a new era in the accommodation sharing market in China."

About Inc. Inc. (NYSE: WUBA) operates China's largest online marketplace serving local merchants and consumers, as measured by monthly unique visitors on both its website and mobile applications. The company's online marketplace enables local merchants and consumers to connect, share information and conduct business.'s broad, in-depth and high quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers.'s strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on, please visit

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For more information, please contact: Inc.  


Mr. Christian Arnell
Phone: +852 9040 0621


Ms. Linda Bergkamp
Phone: +1-480-614-3004

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