September 9, 2010
There has been news that the DST investor and South African media conglomerate Naspers has purchased a share at the OLX which the co-founder of the company Alec Oxenford and Fabrice Grinda has confirmed. Expert say that it is one of the best moves the Naspers has made this year. OLX is an online free classified company similar to craiglist. Though the company is having problem with competing with Craigslist in the United States it is making its name internationally. It is the current leading website in Asia and Latin America. It has about 125 million worldwide unique visitors per month. And it is available in 40 languages. Although the investment amount of Naspers wasn’t disclose to the public it was estimated to be in-between the range of $20 to $40 million. The Naspers also did buy out shares from the previous OLX’s investors, namely The Founders Fund, Bessemer Venture Partners, Nexus Venture Partners, General Catalyst Partners and DN Capital.