Craigslist Competitor OLX Receives $5 Million in Funding

New York City, NY (Gawkwire.com) OLX -- the largest international classified site on the web -- raises an additional $5 million making the total raised to date $28.5 million.

Only Classified Site to Operate in 87 Countries and 39 Languages; Funding to Support Company's Aggressive Global Growth Strategy And Continued Technology Leadership

OLX, the Craigslist for the rest of the world, has raised $5 million in funding from Nexus India Capital. OLX raised $13.5 million in Series B funding in April 2008 from General Catalyst Partners, Bessemer Venture Partners, Founders Fund and DN Capital, bringing the total raised to date to $28.5 million. OLX raised an undisclosed Series A round of $10 million in September 2006 with the same VCs and various angels participating.

"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."

OLX is the next generation of free online classifieds and has over 50 million unique monthly visitors per month and 400 million page views per month. With OLX, it's simple to sell, buy, trade, discuss, organize and meet people near you, wherever you reside. On OLX you can:

  Easily design rich colorful listings with pictures and videos
  Control your selling, buying, and community activity in My OLX
  Display your listings on your social networking profile (Facebook, Myspace)
  Access the site from your mobile phone
  View OLX in your local language
 
Since OLX is the first classified site to merge Web 2.0 functionality with the ease of use and simplicity of traditional online classifieds sites, almost 2 million new ads are posted on OLX every month.