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OLX's operations in India, like other online retailers, has faced problems with fraud and faced problems with people selling stolen vehicles. In combating fraud, nearly 25% of the car listings get rejected by its systems to protect users from fraud. [36] [37] In August 2023, OLX's India business was acquired by CarTrade for ₹ 535.54 crore. [38]
OLX may refer to: OLX (OnLine eXchange; Olx), a Dutch-dominicled international online marketplace OLX Group, the operating company of the OLX On-Line eXchange; OLX (radio station), a station operated by the UZSI, the Czech foreign intelligence service Office for Foreign Relations and Information; OLX (song), a track on the 1997 album The Conet ...
In 2006, Oxenford and Fabrice Grinda co-founded OLX, an online classified ads company that operates in 45 countries, [16] with 330 million users and 60 million listings a month. [17] In 2010, a majority of the company was acquired by the South African group Naspers , with Oxenford remaining CEO through 2014. [ 18 ]
Fabrice Grinda (born 3 August 1974) is a French entrepreneur, blogger for Business Insider [1] and super angel, with more than 200 investments around the world, [2] including Alibaba Group, Airbnb, Beepi, FanDuel, Palantir, and Windeln.
The company raised US$100 million in 2015, [6] one of the five largest first rounds of venture capital financing since 2008. [15] Following a merger in May 2016 with Wallapop, a competitor with a reported valuation of about $570 million, the company raised an additional $100 million. [10]
In April 2019, Carousell acquired OLX Philippines after receiving an investment from Naspers. [15] The company raised $85 million Series C funding in May 2018. The round was co-led by existing investor Rakuten Ventures and EDBI. Other participants included 500 Global, Golden Gate Ventures and Sequoia India as well as new investor DBS. [16]
But the OLX Group does say it created OLX Group in 2016, I assume by changing the name of the holding company/division overlooking Naspers various ecommerce sites. Foundation Location: ? OLX Group was already an international entity when it was renamed in 2016, and so I'm unsure what to name as the founding location. Leave blank due to ambiguity?
In 2013, Avito merged with its Russians competitors Slando.ru and OLX.ru to become the Russian market leader for classified ads, and was later purchased by Naspers for $1.2 billion. [ 7 ] [ 8 ] In January 2019 Naspers has taken full control of Avito after it spent $1.16 billion to buy the 29.1 percent of company.