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Anjuke Completes Financing Led By Baidu

Stocks in this article: BIDU

SHANGHAI and BEIJING, March 8, 2011 /PRNewswire-Asia/ -- Anjuke, China's leading real estate marketplace, today announced that it has completed a new round of financing of US$50 million led by Baidu, Inc. ("Baidu") (Nasdaq: BIDU), the leading Chinese language Internet search provider.

Anjuke was founded in Shanghai in 2007 to provide a more efficient and user-friendly experience for buyers, homeowners, and real estate agents to buy and sell secondhand properties online. Today, Anjuke has 10 million unique visitors per month and via is China's most popular online marketplace for secondhand residential properties. In 2010, Anjuke also launched and to focus on property rental and new property sales, respectively.

Mike Liang, founder, CEO and Chairman of Anjuke, said, "This financing bolsters Anjuke's position as the leading platform for property transactions in China and deepens our relationship with Baidu. We will continue to focus on providing the best user experience for buying, selling, and renting properties online."

"Anjuke has been an important partner of Baidu and we have a lot of respect for what Mike Liang and his team have accomplished in three short years," said Hesong Tang, General Manager of Corporate Development at Baidu. "We are pleased to invest in Anjuke and deepen our involvement in the real estate vertical."

Bo Y. Shao, co-founder of Matrix China and vice chairman of Anjuke, said, "We are honored to have been an early supporter of Anjuke and Mike. This new investment will enable Anjuke to increase its lead and continue its profitable growth."

Anjuke plans to use the proceeds to invest in geographic expansion and in research and development. China Renaissance acted as exclusive financial advisor to Anjuke in the transaction.  

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