Who are OLX?
We deep dive into the marketplace
OLX is a marketplace that may have gone under the radar so far, but is set to do big things in 2020. Although they are headquartered in Amsterdam and now owned by a South African company called Naspers, they are actually really big in India, with 90% of its listings there being made up of household goods and electronics. However it looks set to start to dominate the used car market in India after buying a huge share in Frontier Car Group. It looks as though this will be a huge focus for OLX in India going into the next financial year.
Who are OLX?
OLX was started in 2006 by Fabrice Grinda and Alex Oxenford. They aimed to start an alternative to the website Craiglist, which is popular across America. They have made a number of investment moves, like acquiring Mundoanuncio.com to target the Hispanic market, and investing in the Chinese classifieds site Edeng. Perhaps the biggest business move came in 2010, when South African company Naspers took the majority share of the company. They operate in companies such as India, Brazil, Kenya, the Philippines, and Pakistan. They also have an offshoot called “dubizzle” that operates in the UAE, Egypt, Bahrain and Saudi Arabia, among other countries.
(OLX is popular in India, Source: olx.in)
What does the future hold for OLX?
(They look set to expand more into the used car market in 2020, Source: olx.in)