OLX

OLX Group (OnLine Exchange)
Incorporated
Industry Marketplace classifieds forums
Founded 2006
Founder Fabrice Grinda, Alec Oxenford
Number of locations
 40+ countries
Area served
 Worldwide
Key people
 Martin Scheepbouwer - CEO
Number of employees
 4000
Parent Naspers
Website

www.joinolx.com www.letgo.com www.tradus.com www.avito.ru

www.stradia.in

OLX Group is a global online marketplace (headquartered in Amsterdam, and owned by South African media and technology group Naspers),[1] operating in 45 countries,[2] and is the largest online classified ads company in Brazil, India, Bulgaria, Poland,[1] Portugal and Ukraine.[3] It was founded in 2006.

South African media group Naspers acquired a majority of OLX in 2010 and 95% of the company in 2014.[4]

History

Fabrice Grinda and Alec Oxenford started the company as a Craigslist alternative for the world outside of the United States.[1]

The OLX marketplace is a platform for buying and selling services and goods such as electronics, furniture, household goods, cars and bikes. In 2014, the platform had 11 billion page views, 200 million monthly active users, 25 million listings, and 8.5 million transactions per month.[1]

In 2006, it acquired Mundoanuncio.com, a classifieds site targeting the Hispanic market and in 2007, it made an investment Chinese classifieds site in Edeng.cn.[5] In 2008, its growth in the Philippines was attributed to its partnership with Friendster.[6]

The company invested in "Web 2.0" features in 2008, such as social network widgets, improved search, Ajax-based editors, interactive maps, and mobile versions.[6]

In 2009, the company partnered with Hi5, a social network, which at the time had 60 million users. Hi5 implemented OLX features, such as displaying ads and sharing ads with friends, and OLX enabled video, image and mobile features, in 39 languages and 90 countries.[7]

In 2010, a majority of the company was acquired by the South African media group Naspers,[8] which bought out the existing investors.[5]

CEO Alec Oxenford said in a 2014 interview that OLX adopted a "Martian approach" to international expansion, launching in India, the largest available market, rather than in the United States.[1] Naspers consolidated its online classified operations in the Philippines, Thailand, Poland, Hungary, Bulgaria, Romania, Ukraine, Belarus, Kazakhstan and Indonesia and re-branded them as OLX.[4]

The company invested heavily in television advertising. Oxenford said that adoption of the internet by more than three billion people has made television more effective as a driver of traffic to websites or apps than it was during the early dot-com period, when television advertising didn't work well for websites.[1] He said that OLX acted as a “wealth creator” in emerging markets, enabling people to easily monetize their services and possessions.[1]

In 2014, OLX's global traffic was 240 million unique monthly visits, 54% of which came from mobile .[9]

In late 2016 it launched Tradus as a heavy machinery classifieds site [10]. It lists ads for used, heavy machinery and vehicles in the fields of construction, transport, and farming, and also spare parts for such machines. [11]

Individual countries

In India, OLX began to aggressively advertise in 2011.[12] In 2013, the company said it had 60% of the online classified market share in India, with 80% of usage on mobile.[9] In 2014, it claimed 1.5 billion monthly page views were generated from India .[13] Morgan Stanley called OLX the "undisputed leader in India" in a 2013 report.[13] OLX became the vernacular for 'selling' in India, in the form of 'OLX Pe Bech De', ' OLX Kar Do' and 'OLX it'.[13] About 90% of listings in India came from used mobile and electronics, used home and household goods, and used cars & bikes.[13] Used cars account for 45% of page views, as of 2015.[14] In used car segment, CarSangrah is the main competitor of OLX. In addition to continuing free listings, the company in 2015 added priority space for premium listings.[14] In 2016, it reported that 72% of all used cars sold monthly in India were from transactions on its site.[15] In 2016 about 200,000 vehicles with a value of $1 billion were sold monthly on the site compared to 95,000 cars worth $470 million in 2015.[16]

In Brazil, OLX and bomnegocio.com, owned by Norway's Schibsted, combined in 2014 to create the largest classifieds site in the country.[17] The company began offering programmatic advertising in 2016, accessing 43 million unique visitors and three billion monthly page views in Brazil.[18]

In Kenya, more than 10,000 farmers used OLX to sell their produce and livestock in 2016, especially chicken and cattle, and fresh produce.[19] .[20]

In Nigeria, OLX, launched in 2012, and reported more than three million sellers and buyers in the country in 2015.[21] The company purchased its Nigerian competitor, TradeStable.[22][23]. In February 2018, OLX announced the shut down of its Nigerian office and a complete pullout from Nigeria. [24]

Philippine classified ads site Sulit rebranded as OLX in 2014. The merger in the Philippines between OLX and Ayos Dito redirected Ayos Dito users to OLX as of 2015.[25]

OLX ceased its operations in Venezuela on September 11, 2018, due to complex political issues and lack of free dealing.[26][27][28]

References

  1. 1 2 3 4 5 6 7 "Meet OLX, the biggest Web company you've never heard of". Fortune. 2014-10-29. Retrieved 2016-09-23.
  2. ↑ Mander, Benedict (2016-09-19). "Argentina: home to the majority of Latin America's tech unicorns". Financial Times. ISSN 0307-1766. Retrieved 2016-09-27.
  3. ↑ "Top Sites in Ukraine - Alexa". www.alexa.com. Retrieved 2017-09-01.
  4. 1 2 "Naspers-owned OLX enters 11 new markets". Retrieved 2016-09-23.
  5. 1 2 Rao, Leena. "Naspers Makes Strategic Investment In Craigslist Competitor OLX". TechCrunch. Retrieved 2016-09-23.
  6. 1 2 Hendrickson, Mark. "Craigslist Competitor OLX Raises $13.5M". TechCrunch. Retrieved 2016-09-23.
  7. ↑ Wauters, Robin. "OLX And hi5 Join Forces For International Expansion Plans". TechCrunch. Retrieved 2016-09-23.
  8. ↑ Perez, Sarah (2015-09-03). "Mobile App Letgo Raises $100 Million From Naspers To Take Over Classifieds In The U.S." TechCrunch. Retrieved 2016-06-14.
  9. 1 2 KJ, Shashidhar (2015-09-11). "Naspers annual report: 80% of monthly active users of OLX on mobile in India". MediaNama. Retrieved 2016-09-23.
  10. ↑ "About us | Tradus". www.tradus.com. Retrieved 2018-01-04.
  11. ↑ Gnezditskaia, Anastasia. "Tradus comes back as a heavy-machines site - AIM Group". aimgroup.com. Retrieved 2018-01-04.
  12. ↑ "Online retail in India: learning to evolve". Retrieved 2016-09-23.
  13. 1 2 3 4 indiainfoline.com. "Naspers-Backed OLX takes No.1 position in emerging markets". Retrieved 2016-09-23.
  14. 1 2 Mishra, Sounak Mitra & Digbijay (2015-02-19). "OLX to start monetising in India". Business Standard India. Retrieved 2016-09-23.
  15. ↑ Bureau, Our (2016-09-23). "72% of used cars sold in a month in India is on OLX". Retrieved 2016-09-23.
  16. ↑ "OLX sees 100% rise in online sale of pre-owned vehicles - The Economic Times". Retrieved 2016-09-23.
  17. ↑ "South African, Norwegian e-commerce rivals bury hatchet in Brazil battle". Reuters. 2014-11-14. Retrieved 2016-09-23.
  18. ↑ "OLX Offers Inventory Programmatically; New Data About Media Habits in Brazil | ExchangeWire.com". www.exchangewire.com. Retrieved 2016-09-23.
  19. ↑ "More than 10,000 farmers use ads site OLX to sell produce". Retrieved 2016-09-23.
  20. ↑ Ollinga, Michael. "OLX sets up agriculture category to rid sector of middlemen". Retrieved 2016-09-23.
  21. ↑ "OLX claims three million sellers, buyers at third anniversary". Retrieved 2016-09-23.
  22. ↑ "Naspers pulls India into its online web". Business Day Live. Retrieved 2016-09-23.
  23. ↑ Abiodun, Eromosele (2015-04-01). "Nigeria: OLX Expands Platform, Acquires Tradestable". This Day (Lagos). Retrieved 2016-09-23.
  24. ↑ "CONFIRMED: OLX shuts down office in Nigeria". Retrieved 2018-02-14.
  25. ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2016-09-23.
  26. ↑ Acukat. "OLX es la nueva víctima de Maduro, cierra operaciones y se despide de Venezuela - Venezuela al dia". www.venezuelaaldia.com (in Spanish). Retrieved 2018-09-13.
  27. ↑ "Otro que se va... OLX Venezuela anuncia el cierre de todas sus plataformas (Foto)". LaPatilla.com (in Spanish). 2018-09-11. Retrieved 2018-09-13.
  28. ↑ Web, El Nacional (2018-09-11). "OLX Venezuela anunció el cese de sus operaciones en el país". El Nacional (in Spanish). Retrieved 2018-09-13.
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