OLX Gets $5 million in Funding

olx gets $5 million in funding

Fri, May 8, 2009

OLX, a free online classifieds site with a strong user base internationally, has received $5 million in funding from Nexus Capital India.

According to TechCrunch, 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 funding raised to $28.5 million. They also raised $13.5 million in Series B funding in April 2008 from the same investors as above, and raised an undisclosed Series A round of $10 million in September 2006 with the same VCs and various angels participating.

The U.S.-based OLX site specializes in advertising for real estate, vehicles, personals, and jobs. Their jobs portion currently lists about 819,000 jobs.

Although OLX is struggling for traffic here in the U.S. against Craigslist, the site is popular in Spain, India, Portugal, Mexico, South America, China, and the Philippines.

Popularity: unranked [?]

OLX

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This post was written by:

Vanessa Dennis - who has written 621 posts on Cheezhead Recruiting News and Opinion.

Vanessa Dennis, originally from Austin, Texas, was a corporate recruiter for two years before becoming a writer for Cheezhead.com. Vanessa has an English Writing degree from Loyola University of New Orleans. She currently lives with her family in Cleveland. Connect with Vanessa on the Facebook Fan Site.

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