Deals
China’s 58 Home Said to Delay U.S. IPO as Virus Hurts Demand
- On-demand cleaning startup also delays pre-IPO fundraising
- 58 Home was said to be seeking a $2 billion valuation in IPO
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58 Home, the maid and home-maintenance service owned by China’s Craigslist equivalent 58.com Inc., has delayed its planned U.S. initial public offering, according to people familiar with the matter, as the coronavirus outbreak cripples customer demand.
The company’s pre-IPO financing round -- a private fundraising effort that started late last year -- also hasn’t been completed, said the people, who asked not to be named because the information is private. The IPO had been expected to take place in the first half of the year.