OLX Receives $5 Million in Funding
May 10, 2009 by Stephen Kersey
Filed under Business
OLX, the largest international classified website, has raised an additional $5 million in funding, bringing its total to date to $28.5 million.
OLX is a website similar to Craigslist and operates in 87 countries. The latest $5 million in funding comes from Nexus India Capital. OLX raised $13.5 million in Series B funding in April 2008 after raising $10 million in September 2006 in their Series A round.
Image: OLX.com
OLX offers free online classified and has over 50 million unique monthly visitors per month and 400 million page views per month.
“In the past three years, OLX has grown to 125 employees, launched in 87 countries in 39 languages, completed four acquisitions, including the purchase of Mundoanuncio, made an investment in Edeng and signed major partnership agreements to run classifieds for third parties such as Friendster,” said Fabrice Grinda, founder and CEO of OLX. “This new investment will enable us to continue to grow rapidly through a combination of site improvements, continued global deployments, new acquisitions and more aggressive marketing.”
Recently, I interviewed Grinda over at StartupSpark. Check out the interview with the OLX CEO to learn more about the company.
