Oct 31, 2013, 2:22 pm EST
While most people are familiar with the classifieds website Craiglist, most people on Wall Street shrug at the name. That’s because the chances of a Craigslist IPO are pretty slim.
Now, though, you can invest in a company that provides a similar service — except in China.
58.com (WUBA) is the largest online marketplace for local merchants and consumers in terms of monthly unique visitors, according to iResearch. As of the second quarter, that metric sat at 129.7 million. The site covers roughly 380 cities in China and has diverse categories like housing, jobs, used goods, automotive, pets, tickets and yellow pages. To help with the quality, the service also provides reviews of merchants. Read
Oct 30, 2013, 2:41 pm EST
New real estate investment trust (REIT) Brixmor Property Group (BRX), priced 41.25 million shares at $20. And so far in today’s trading, the shares are up about 1.5%. The offering comes on the heels of a spate of other real estate offerings, like the Empire State Realty Trust (ESRT). For the most part, Wall Street’s enthusiasm remains fairly robust.
Brixmor is the result of Blackstone’s (BX) $9 billion asset purchase from Centro Properties Group in 2011. Since then, the company has undergone a restructuring, which has involved shedding various noncore assets.
“Blackstone has been a great partner for our business,” said Bixmor CEO Michael Carroll (I interviewed him this morning). “Before the acquisition, the company was capital-constrained and overlevered. It couldn’t grow. But with Blackstone, we had the runway to reinvest our cash flows back into the business.” Read
Oct 29, 2013, 11:50 am EST
Nextdoor, which is a service similar to Facebook (FB) but focused on neighborhoods, has snagged $60 million in venture capital at a valuation of over $500 million. Investors include Kleiner Perkins Caufield & Byers (KPCB) and Tiger Global Management.
The hope is that Nextdoor can crack the massive local e-commerce space.
Back in 2010, Nirav Tolia, Sarah Leary and Prakash Janakiraman launched the company. They all came with strong backgrounds at big-time Internet companies like Yahoo (YHOO), Microsoft (MSFT) and Google (GOOG) … and the experience certainly paid off. Read