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Carlyle invests in Chinese mobile-based classifieds venture Ganji.com

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ganji-logoPrivate equity firm Carlyle has picked a minority stake in Ganji.com, an operator of online and mobile-based classifieds in China, for an undisclosed amount. The funding is routed through its regional fund Carlyle Asia Partners IV.

Founded in 2005, Ganji.com provides a range of listings across job recruitment, housing and local services, across over 350 cities in China. It is mostly used by small and medium enterprises, real estate agents and merchants to connect with customers.

"Ganji.com is well-positioned to benefit from the evolution of industry digitalization, high demand for online classifieds and local services, an enormous internet and mobile internet user base as well as an increasingly sophisticated e-commerce culture in China," said Eric Zhang, managing director of The Carlyle Group.

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Mark Yang, founder and CEO of Ganji.com, said, "We are excited to partner with Carlyle, and are confident that this partnership will bring us advanced internet management know-how and global best practices to further develop our businesses, expand merchant base and customer reach, strengthen marketing and channel management, and enhance our company's profile."

Carlyle had last year also bought a minority stake in Beats Electronics and almost doubled its investment in less than a year as Apple struck a deal to acquire the audio product technology firm recently.

Carlyle has invested $5.2 billion in about 80 transactions in China, as of March 31, 2014, having started its operations in the country in 1998.

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