OLX - An Online Classified Marketplace That Transformed Buying & Selling

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The internet is a virtual platform where every industry has got a business concept of its own! Earlier concepts were not as easy as it is today. Anyway, now the normal trade and commerce evolved and came to be known as e-commerce. Webshops are the usual locations to buy and sell commodities online.

OLX is a classified marketplace. Over here connecting with people such as both buyers and sellers are very easy. Finding clients is completely free on this platform and one can use OLX from a phone and laptop respectively. When individuals are buying anything from OLX they exactly do not buy from OLX but do buy from a seller of OLX. Read the OLX Success Story below!

OLX - Company Highlights

OLX - About
OLX - Founders and Team
OLX - Startup Story
OLX - Mission and Vision
OLX - Tagline, Slogan and Logo
OLX - Business Model
OLX - Revenue Model
OLX - Growth
OLX - Online and Social Media Presence
OLX - Competitors
OLX - Future Plans

OLX - About

OLX is a marketplace where both buying and selling of products such as furniture, electronic gadgets, cars, accessories, bikes and household items goes on! It is a space that is currently serving more than 300 million people each passing month.

OLX - Founders and Team

Alec Oxenford and Fabrice Grinda are the Co-founders of OLX.

Alec Oxenford

Alec Oxenford is an entrepreneur! He was the co-founder and the CEO of the company OLX and there he served for a time of around nine long years. Presently he is the co-founder of Alpha Capital Acquisition Company. He completed his MBA from Harvard Business School.

Fabrice Grinda

Fabrice Grinda was the co-founder and the CEO of the company OLX! Presently he is the founding partner of FJ Labs where he has been serving for the past nine years. He fulfilled his education at Princeton University.

OLX - Startup Story

OLX was founded in 2006 by Fabrice Grinda and Alec Oxenford. The founders thought about bringing an online platform into existence with the help of which consumers will be able to sell unwanted commodities at no cost to themselves!

Fabrice took into notice in person that the larger online marketplaces such as eBay and many more had substantial operations all across the advanced marketplaces but did show a bit of attention in establishing a presence in the rising markets mainly across Latin America, Eastern Europe, and South-East Asia.

Fabric and Alec thereafter developed the OLX platform to cater specifically to the consumers in all the rising marketplaces.

OLX - Mission and Vision

The mission and the vision of OLX is to operate an online marketplace, especially for consumer-to-consumer sales, targeting users in the rising marketplaces, providing a safe, credible and efficient procedure for consumers to buy and sell commodities.

OLX - Tagline and Logo

The new tagline of the brand is, 'Set Hai.'

OLX - Business Model

The business model of OLX is based to provide a space for the consumers to buy and sell products. According to the reports, there are more than 300 million active users of the renowned space.

Around 65% of the users of OLX are mostly younger male members. The rest are the middle-aged ones who generate traffic to the site. OLX serves more than 45 countries in the world and its largest markets are present in India and Poland.

OLX - Revenue Model

OLX generates its revenue with the help of the growth and system of an online and mobile classified ads space!

OLX major revenue streams are:

• Google Adsense, with the Company regulating the traditional display and banner advertisements based on the searches made by each user.
• Sponsored and premium listings, where users can stimulate their product listings by paying a little amount fee, or maybe later all the businesses can pay to have their listings occur at the top of the results for particular searches.

OLX does not publish its financial results on its website!

OLX - Growth

OLX has seen incredible growth in the country of India. The website is really simple to drive through and also it focuses especially on mobile and proper advertising. Their different transmission strategy surely ensures total brand appeal across the board.

Olx can be used by anyone and everyone regardless of their social, cultural and geographical significance!

OLX - Online and Social Media Presence

OLX has got its social profiles on Facebook, Instagram, Twitter, and its professional profile on LinkedIn. Apart from traditional marketing, OLX has switched to market its services in the digital space as well. The company is quite a renowned brand and also it has got its name on various web portals.

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OLX - Competitors

The top competitors of the company OLX are Quikr, Clickindia, and Sulekha.

Quikr

Quikr is one of the top competitors of OLX. The company was founded in 2008 and is headquartered in Mumbai, Maharashtra, India. Quikr competes in the Online Marketplace Sector.

Clickindia

Clickindia is also one of the top competitors of Quikr. The company was founded in 2007 and is headquartered in Noida, Uttar Pradesh, India. Clickindia competes in the Real Estate Agencies Sector.

Sulekha

Sulekha is perceived as one of the top competitors of OLX. The company was founded in 2006 and is headquartered in Chennai, Tamil Nadu. Sulekha competes in the Business Information Research Sector.

OLX - Future Plans

The plan is to grow the user base, enhance the prevailing categories, grow the new business lines and strengthen the core theme of customer-centricity across the entire OLX goods portfolio! The current brand modification aims to appeal to the global millennials.

FAQs

Who is the founder of OLX?

Alec Oxenford and Fabrice Grinda are the co-founders of OLX.

When was OLX founded?

OLX was founded in 2006 in Amsterdam, The Netherlands.

What is the revenue of OLX?

OLX India's operating revenue in FY21 was recorded to be INR 228.63 crore.

Who are the top competitors of OLX?

The top competitors of the company OLX are:

• Quikr
• Clickindia
• Sulekha