Classifieds site OLX gets USD13.5m funding

Classifieds site OLX is receiving USD13.5m in Series B funding, with the round seeing participation from Bessemer Venture Partners, Founders Fund, General Catalyst and DN Capital.

The site received an unannounced USD10m Series A round in September 2006 featuring the same investors, bringing the total raised to USD23.5m. OLX is an international classifieds site operating in 15 languages and spanning 40 nations, with a focus in countries such as China, Spain and South American states.

The site provides similar services to Craigslist, with the addition of Web 2.0 features such as interactive maps, mobile support, social networking widgets and Ajax functionality. No information was disclosed as to how the funding will be spent.

Published by Reinout te Brake

Reinout is a games investor and strategic business consultant specializing in the games industry. Reinout established his credentials through his own successful investments, start-ups, consulting and (advisory) board positions that led through time to strong bonds with key stakeholders in this fast paced industry. He is known for his outstanding results in the gaming industry. He has worked with many game studios around the globe and is therefore well known in the international gaming industry. Check out his games podcast; https://www.game-consultant.com

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