wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Classifieds Biz OLX Raises Undisclosed Amount Of Funding From Naspers

Update: VCCircle reports, that VC firm Nexus India Capital has made an exit on its investment in OLX.

South African media conglomerate Naspers has invested an undisclosed amount of money in Buenos Aires based general classifieds company OLX. Though the amount of funding has not been disclosed, TechCrunch claims that it’s heard from sources that the amount is in the range of $20 to $40 million. OLX had previously raised $5 million from Nexus Venture Partners in May 2009. In all, it has raised $28.5 million, from firms like Bessemer Venture Partners, General Catalyst Partners, Founders Fund and DN Capital, among others.

OLX has a presence in 85 countries, and in India, it has a site in Hindi and English. It also powers AskHT, a general classifieds portal from HT Media. It competes with other online classifieds portals in the crowded Indian market, like Quikr (funded by Norwest Venture Partners (NVP), Omidyar Network, Matrix Partners India and eBay Inc), Rediff LocalAdsSulekha, Netcore / Greynium owned Click.inClickIndia, Mid Day owned SnatchKing, among others. In March this year Quikr had raised $6 million in a Series C, third round of funding. Last August, OLX and social network hi5 inked an agreement for hi5 to implement OLX features and vice-versa.

In India, Naspers owns social networking site iBibo. Naspers also has 36% stake in mobile advertising and payments company Buzzcity.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ