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 Pakistan, Brazil, India, Bulgaria, Poland,[1]Portugal and Ukraine.[3] It was founded in 2006.
Fabrice Grinda and Alec Oxenford started the company as a Craigslist alternative for the world outside of the United States.[1] South African media group Naspers acquired a majority of OLX in 2010 and 95% of the company in 2014.[4]
History]
The OLX marketplace facilitates buying and selling services and goods such as electronics, furniture, household goods, cars and bikes. OLX had 11 billion page views, 200 million monthly active users, 25 million listings, and 8.5 million transactions per month in 2014.[1]
In 2006, OLX acquired Mundoanuncio.com, a classifieds site targeting the Hispanic market and in 2007, OLX made an investment Chinese classifieds site in Edeng.cn.[5] In 2008, OLX's growth in the Philippines was attributed to its partnership with Friendster.[6]
OLX 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, OLX 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]
Oxenford has said that OLX acted as a “wealth creator” in emerging markets, enabling people to easily monetize their services and possessions.[1]
About 54% of OLX's global traffic, then 240 million unique monthly visits, came from mobile in 2014.[9]
India
The company began to aggressively advertise in India in 2011.[10] OLX said it had 60% of the online classified market share in India in 2013, with 80% of usage on mobile.[9] OLX said 1.5 billion monthly page views were generated from India in 2014.[11] Morgan Stanley called OLX the "undisputed leader in India" in a 2013 report.[11]
OLX became the vernacular for 'selling' in India, in the form of 'OLX Pe Bech De', ' OLX Kar Do' and 'OLX it'.[11] About 90% of listings in India came from used mobile and electronics, used home and household goods, and used cars & bikes.[11] Used cars account for 45% of page views, as of 2015.[12] In used car segment, CarSangrah is the main competitor of OLX.
In addition to continuing its free listings, OLX said in 2015 it would start to sell priority space for premium listings.[12]
In 2016, OLX said about 72% of all used cars sold monthly in India were from transactions on the site.[13] The number of used car sales on the site in India grew 100 per cent in 2016 from 2015. About 200,000 vehicles with a value of $1 billion are sold monthly on the site compared to 95,000 cars worth $470 million in 2015.[14]
Brazil
OLX and bomnegocio.com, owned by Norway's Schibsted, combined in 2014 to create the largest classifieds site in Brazil.[15] The company began offering programmatic advertising in 2016, accessing 43 million unique visitors and three billion monthly page views in Brazil.[16]
Kenya
In Kenya, more than 10,000 farmers used OLX to sell their produce and livestock in 2016, especially chicken and cattle, and fresh produce.[17] Traditionally in Kenya, farmers and buyers paid brokers a fee to assist with sales. The transition to online selling enables farmers to earn more by cutting out brokers and reducing transportation costs. The company said it saw the need for the category after it saw farmers listing livestock for sales in its pets category.
Nigeria
OLX, which launched in Nigeria in 2012, said it had more than three million sellers and buyers in the country in 2015.[19] OLX purchased its Nigerian competitor, TradeStable.[
In February 2018, OLX announced the shut down of its Nigerian office and a complete pullout from Nigeria. [
Philippines
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.[23]
Tradus
In late 2016 Tradus was launched as a heavymachinery classifieds site by the OLX Group[24]. Tradus lists ads for used, heavy machinery and vehicles in the fields of construction, transport, and farming, and also spare parts for such machines. The site has quickly gained traction by using the distribution power of the group
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