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Campaigns / Grizzly Research → 58.com Inc.
Grizzly Research vs. 58.com Inc.

58.com Inc. · WUBA

2 decks published between 2020-02-01 and 2020-04-29 — 41 pages, 38 analysed slides total.

initial thesis follow up

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2020-02-01 initial thesis

    2020 02 WUBA Report Final

    35pp · research_note

    58.com is an accounting house of cards: inflated SEC revenues, a $2.6bn Ganji goodwill that collapsed 95% post-acquisition, and serial insider spin-offs enriching the CEO and former co-chairman.

    N 4 V 2 C 2
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  2. 2020-04-29 follow up

    2020 04 Update Report WUBA Grizzly Research 29 April 2020

    6pp · research_note

    WUBA's sudden $55 go-private offer from underfunded Ocean Link — announced the day after Luckin's fraud burst — is a sham price-support PR maneuver masking accounting fraud and COVID collapse.