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Archive for September, 2010

The Naspers big investment on Craigslist competitor OLX

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.

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Jim Buckmaster a craigslist CEO attacked CNN’s Amber Lyon on blog post

Seems like Jim Buckmaster wasn’t happy with the way Amber Lyon interviewed their founder Craig Newmark. According to Jim Buckmaster Amber ambushed Craig with surprised questions about topics which Craig wasn’t prepared to answer. He was supposed to be interviewed for his talk on veteran’s affairs which happened last May 20.

Jim’s feisty post was created after Amber Lyon requested to set up an interview with the company’s spokesperson or Jim himself. Jim claimed that Craig though he is the founder his is no longer in management and he is not the company’s spokesperson. And that it was not fair to ambush their semi-retired founder Craig Newmark with questions he doesn’t have a clear idea or he hasn’t prepared for. What makes Jim so mad is that the network was able to air the “misleading” piece a number of times. The CEO has no problems with the network but he was only attacking Amber Lyon.

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