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  "documentTitle": "58.com Inc. (WUBA)",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-02-01 00:00:00",
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      "text": "1. Introduction 4\n2. Reporting Apparently Inflated Financials 5\n3. Ganji Takeover Looks Like a Sham 6\n3.1 Background on Ganji Acquisition 6\n3.2 Ganji Fell Apart Shortly After the Acquisition 7\n3.3 Web Analysis Seems to Confirm that Ganji is in Bad Shape 10\n3.4 Ganji's Founder Cashes Out Quickly 13\n3.5 But Who is to Catch It? 14\n3.6 What If WUBA Decides to Impair Goodwill? 15\n4. Guazi Spin-Off Enriches Insiders 17\n5. Sale of Finance Businesses to CEO 18\n6. Accounting Shenanigans Left and Right 20\n6.1 WUBA Deconsolidated its Main Asset 20\n6.2 Deconsolidating Guazi 22\n6.3 Changing How to Count Members 22\n6.4 Mysterious Goodwill Amount Change 23\n6.5 Lots of Capital Raises, Little Cash Flow 24\n7. WUBA's Business Fundamentals are Deteriorating 25\n7.1 WUBA's Business May Have Reached Its Peak 25\n7.2 The Housing Industry in China is Grinding to a Halt 28\n7.3 The Jobs Industry in China is Also in Decline 29\n7.4 Negative Media Coverage, Poor User Experience 31\n7.5 The Coronavirus 32\n8. Conclusion 33",
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