• About Us
  • Advertise
  • Archives
  • Disclaimer
  • Contact Us
  • Internet Speed Test
  • Smartphone Prices
Sunday, December 8, 2019
Tech Pilipinas
  • Home
  • Gadgets
  • Mobile
  • E-commerce
  • Social Media
  • Internet
  • Telecoms
  • Business
  • Government
  • Tutorials
  • Deals
  • More
    • Apps
    • Blogging
    • Emerging Tech
    • Fintech
    • Giveaways
    • News
    • Security
    • WordPress
No Result
View All Result
  • Home
  • Gadgets
  • Mobile
  • E-commerce
  • Social Media
  • Internet
  • Telecoms
  • Business
  • Government
  • Tutorials
  • Deals
  • More
    • Apps
    • Blogging
    • Emerging Tech
    • Fintech
    • Giveaways
    • News
    • Security
    • WordPress
No Result
View All Result
Tech Pilipinas
No Result
View All Result

Carousell to Take Over OLX Philippines

The acquisition is part of Naspers' investment into the Singaporean online marketplace

Luis Reginaldo Medilo by Luis Reginaldo Medilo
April 10, 2019
in E-commerce
0
Carousell
105
SHARES
726
VIEWS
Share on FacebookShare on Twitter

Online marketplace Carousell has reportedly acquired OLX Philippines. The deal is said to be part of an investment by multinational Internet company Naspers, which owns the OLX Group.

Naspers started talks with Carousell in June last year, with the former interested in acquiring a minority stake in the Singaporean firm. It was reported that Naspers has invested $42 million in Carousel in a deal that valued the company at $365 million. Carousell had earlier raised a total of $126 million prior to this deal.

The investment makes Naspers’ OLX Group the third largest shareholder in Carousell at 11.5%, after Rakuten with 29.6% and Sequoia India at 15.1%.

Earlier this month, OLX Group sold its operations in Kenya, Ghana, Uganda and Tanzania to African classifieds company Jiji. “We continually evaluate our portfolio of classifieds businesses to ensure a disciplined approach to how and where we allocate capital and management time. With our focus on accelerating the growth of other markets, now is an opportune time to sell our interests in these markets,” said Sjoerd Nikkelen, OLX Group’s general manager for Africa, Middle East and Asia.

Carousell
From left to right: Carousell co-founders Marcus Tan, Lucas Ngoo and Quek Siu Rui

OLX Group’s sale of its Philippines operations to Carousell gives the Singapore-based online marketplace the platform it needs to establish a wider and more visible presence in the country. Aside from the Philippines, Carousell also operates in Australia, Hong Kong, Indonesia, Malaysia, Singapore and Taiwan.

OLX became the largest classifieds website in the Philippines following its acquisition of erstwhile leader Sulit.com.ph in 2009 and eventual merger in 2013.

Tags: CarousellNaspersOLX
Don't Miss An Article!
Sign up for our free newsletter and get updated every time we publish a new article. We work very hard to bring you the latest in the Philippine and global tech scene.
We will not share your email address. We really hate spam!
Previous Post

Complete List of Smart Promos for Text, Call and Internet 2019

Next Post

Huawei Aims to Be the World's Leading Smartphone Brand By 2020

Luis Reginaldo Medilo

Luis Reginaldo Medilo

Luis is the founder and editor-in-chief of Tech Pilipinas. He is passionate about technology and how it can change the world for the better.

Related Posts

Shopee Offers University Scholarship Grants to Sellers
E-commerce

Shopee Offers University Scholarship Grants to Sellers

July 24, 2019
Buy All Kinds of Batteries Online at Baterya.ph
E-commerce

Buy All Kinds of Batteries Online at Baterya.ph

July 2, 2019
Honestbee
E-commerce

Honestbee Philippines Temporarily Halts Operations

April 23, 2019
Amazon Paycode
E-commerce

Amazon Shoppers in the Philippines Can Now Pay Using Western Union

February 16, 2019

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
NBI Clearance Online Application and Registration Step-by-Step Process

NBI Clearance Online Application and Registration Step-by-Step Process

October 27, 2019
mobile number prefixes

The Complete List of Mobile Number Prefixes in the Philippines 2019

October 27, 2019
how to get a TIN number

How to Get a TIN Number Online Using the BIR eReg Website

July 20, 2019
enye

How to Type the Enye Letter (ñ) on Your Computer or Laptop

November 4, 2019
PRC online registration

PRC Online Registration and Application Step-by-Step Guide

May 25, 2019
Uber

Uber to Exit the Southeast Asian and Philippines Markets

5
how to get a TIN number

How to Get a TIN Number Online Using the BIR eReg Website

4
Nakaw Load

How to Protect Yourself From Globe Prepaid Load Theft or “Nakaw Load”

3
PLDT Home Fibr review

PLDT Home Fibr Review and Personal Experience

2
Amazon Philippines

Amazon Philippines Shopping Guide: How to Buy Amazon Products in the Philippines

1
Black Friday 2018

The Best Black Friday 2019 Deals for Bloggers, Webmasters and Internet Marketers

November 28, 2019
Gojek Attempts to Enter the Philippine Market Anew

Gojek Attempts to Enter the Philippine Market Anew

November 22, 2019
How to Know How Old Your Computer Is

How to Know How Old Your Computer Is

December 7, 2019
Realme Drops Prices on the Realme 3 Pro and the C2 2020

Realme Drops Prices on the Realme 3 Pro and the C2 2020

November 21, 2019
How to Know Your SIM Card Number in Globe, Smart, TNT, Sun and TM

How to Know Your SIM Card Number in Globe, Smart, TNT, Sun and TM

November 20, 2019

Recommended

Shopee Super Sale is Here

Shopee Super Sale is Here

May 5, 2018
fake call

Netizens Complain About Creepy Prank Calls Purportedly Coming From the BSP

September 8, 2018
Cryptocurrency

Cryptocurrency Scammers Run Away with Millions, Leave Funny Website Message

February 2, 2018
MARINA online appointment

MARINA Launches Seaman’s Book Online Appointment System

October 27, 2018
photo editing

How Beginners Can Start Editing Photos Easily

August 14, 2019

Latest Smartphones

  • Samsung Galaxy A10s Samsung Galaxy A10s ₱6,990.00
  • Xiaomi Mi 9T Pro Xiaomi Mi 9T Pro ₱18,990.00
  • Samsung Galaxy M30 Samsung Galaxy M30 ₱12,490.00
  • Vivo S1 Vivo S1 ₱14,999.00
  • Huawei Nova 5T Huawei Nova 5T ₱18,990.00
  • Xiaomi Mi A3 Xiaomi Mi A3 ₱11,990.00
Facebook Twitter Instagram Youtube Pinterest RSS
Tech Pilipinas

Tech Pilipinas is the Philippines' digital lifestyle blog that focuses on the latest news and updates from the world of technology, computers, electronic gadgets, startups, mobile apps, social media, and many more. E-mail us: [email protected].

Browse by Category

  • Apps
  • Blogging
  • Business
  • Computers
  • Deals
  • E-commerce
  • Emerging Tech
  • Entertainment
  • Events
  • Fintech
  • Gadgets
  • Gaming
  • Giveaways
  • Government
  • Internet
  • Interviews
  • Mobile
  • News
  • Reviews
  • Security
  • Social Media
  • Software
  • Startups
  • Telecoms
  • Tutorials
  • WordPress

Popular Tags

Android Facebook Globe Google Grab Huawei Lazada mobile app online banking online payments online shopping OPPO PLDT Realme Rodrigo Duterte Samsung Shopee Smart smartphone Xiaomi

Copyright © 2017-2019 Tech Pilipinas. All Rights Reserved. Disclosure Policy | Privacy Policy

  • Home
  • Categories
    • Apps
    • Blogging
    • Business
    • Computers
    • Deals
    • E-commerce
    • Emerging Tech
    • Gadgets
    • Gaming
    • Giveaways
    • Government
    • Internet
    • Interviews
    • News
    • Reviews
    • Security
    • Social Media
    • Software
    • Startups
    • Telecoms
    • Tutorials
    • WordPress
  • About Us
  • Archives
  • Advertise
  • Disclaimer
  • Contact Us
  • Internet Speed Test
  • Smartphone Prices