Two China-based companies, online marketplace 58.com and travel website Qunar, have listed on the New York Stock Exchange (NYSE) and NASDAQ , respectively. 58.com, which is backed by global private equity firm Warburg Pincus, Asia-focused private equity firm SAIF Partners and early stage venture capital firm DCM, raised US$187 million in its initial public offering (IPO), and its shares closed up 42 percent after the first day of trading on the NYSE. Post-IPO, Warburg Pincus, SAIF Partners and DCM held stakes of 25.3 percent, 20.1 percent and 16.4 percent, respectively. In a separate listing, Qunar, which is majority owned by internet search company Baidu and backed by venture capital firms GSR Ventures, GGV Capital, Mayfield Fund and Tenaya Capital, raised US$167 million through its IPO and posted an 89 percent first-day gain. GSR and GGV hold a six percent and a 4.4 percent stake, respectively, in Qunar.