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Classifieds Site OLX Raises $5 Million From Nexus India Capital

Online classifieds site OLX has raised $5 million from Indian venture capital fund Nexus India Capital, reports TechCrunch; the company has classifieds sites for 85 countries. OLX does have an India site which allows publishing of free classifieds in both Hindi and English, and has partnered with HT Media to power its classifieds portal AskHT. A look at OLX.in reveals a staggering number of classified listings. In India, OLX competes with Quikr (formerly Kijiji India), Sulekha, HTClassifieds.com, Rediff LocalAds, Click.in among others. Are any of the free classifieds businesses making money in India? In all, OLX has raied $28.5 million, from firms like Bessemer Venture Partners, General Catalyst Partners, Founders Fund and DN Capital, among others. It's interesting to note that in December last year, OLX had appointed Amarjit Batra as Country Manager for the Indian business. Batra was with Bazee and eBay India for around five…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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