OLX
Property24

OLX Group – the world’s leading classifieds platform focused on emerging markets, both mobile and online – has attracted 22 million new customers in full-year 2021.

The Prosus-backed classified group announced today that average monthly users reached 322 million by year-end, compared to 300m the previous year.

The classified group also recorded 58 million new listings and 116 million active app users, with 19 million unique listers each month and 4,1 million paying listers.

Prosus said in a statement that OLX Group became profitable overall in 2020 and remained so this year, despite the initial challenges of the pandemic and continued investment in products and services to drive long-term growth.

The company operates brands such as Property24, OLX Autos, letgo, Avito, Otomoto, and Otodom.

OLX revenues grew 18% to $1.6 billion (R22.9 billion), with a 36% growth in the second half.

In Russia, Avito invested in improving its market position and delivered a standout performance. Its revenues grew by 20% to $415 million (R5,9 billion), and its trading margins remained strong at 40%.

“At OLX Group our passionate entrepreneurial teams are innovating on behalf of hundreds of millions of buyers and sellers we serve every month,” said Romain Voog, CEO at Classifieds.

“Leveraging our leading brands and innovative trading platforms, we are expanding deeper into transactions to create a unique and seamless customer experience, and fulfill our purpose to shape the future of trade to unlock the hidden value in everything.”

Romain Voog
Romain Voog

OLX Group operates one of the fastest-growing networks of trading platforms globally. Serving 300 million users every month in 30+ countries worldwide, OLX Group helps people buy and sell cars, find housing, get jobs, buy and sell household goods, and much more. Innovation is at the heart of our growth strategy, and we continue to build products and services that solve our customer needs.

Over the last 12 years, it accelerated its move into the transaction space and developed differentiated propositions for our consumers, supporting them along their transaction journey.

OLX Group operates more than 20 locally loved brands that hold leading market positions in 24 countries, including OLX, Avito, and many others.

“We made considerable progress during the year and strengthened our strategic and financial position. The COVID-19 pandemic affected our business at the start of the year,” the company said.

“However, we innovated to continue enabling trade and ended the year with strong momentum, with both revenue and trading profit exceeding initial expectations.”

Prosus is a Dutch arm of South African internet titan Naspers.

Prosus is 73.8% owned by Naspers, with a free float of 26.2%.

Prosus assets comprise its international internet interests outside of South Africa, including operations and investments in online classifieds, food delivery, payments and FinTech, etail, education, and social and internet platforms.

It also has a secondary, inward listing on the Johannesburg Stock Exchange.

Also read: Meet OLX, the Biggest Classified Company that is growing Fast

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