OLX Invests in Edeng, One of China's Leading Free Online Classifieds Site

December 6, 2007

In a recent post, I explained how one of the ways that OLX has grown was to partner with other sites to run their classifieds channel (http://www.fabricegrinda.com/?p=256). The other way has been through acquisitions.

We acquired Mundoanuncio (www.mundoanuncio.com) in October 2006 to establish ourselves in the Hispanic market. We just invested in Edeng (www.edeng.cn) establish ourselves in China.

It’s still too early to tell whether OLX will be a success, but both strategies are seemingly working well.

You can see the press release at:
http://biz.yahoo.com/prnews/071204/nytu026.html?.v=101

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