NEW DELHI, August 28, 2013 /PRNewswire/ --
55 Times Hyper-Growth for OLX.in in Less Than 2 Years
OLX, a global leader in online classifieds with operations in multiple countries, has achieved major success with OLX.in establishing itself as the top online classifieds site in India, now pulling away from local market competitors.
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Since Naspers' investment into OLX in 2010, OLX has built up formidable positions in multiple markets including Brazil, India, Portugal and Pakistan. Within the OLX portfolio of sites, OLX India has been a standout showing phenomenal growth while reaching a tipping point of critical mass of buyers and sellers.
- OLX.in's traffic has grown 55 times in the last 22 months
- OLX.in crossed half a billion page views in July 2013 (Trending at 600 Mn PVs in August 2013)
- OLX.in's 2 year CAGR of 653% is significantly ahead of the 32% CAGR for India Internet over the same period
- OLX.in's brand awareness is 4 times its closest competitor
- OLX.in's mobile traffic surpassed it's web traffic
- 100% of listing content on OLX.in site is user generated.
OLX pioneered in creating the consumer-to-consumer (C2C) selling market segment in India that didn't exist prior to OLX's entry. Personal used goods comprising mobiles, computers, electronics, furniture, general household goods, cars and bikes are the top categories on OLX.in, comprising 70% of the new ads being listed and 92% of sellers in these categories being individuals.
Amarjit Batra, CEO of OLX.in commented, "Our market development efforts over the last two years have paid off handsomely, with our brand awareness and recall being almost four times of our closest competitor. We have penetrated not only the big towns but all the small towns too. All over India, OLX is being used as a verb ('Bech De' - means 'Sell It') for selling unused household stuff among the masses in India across all social classes. It's gratifying to have been able to have built such a loyal base of users and strong brand equity across all India in a short span of two years."
Alec Oxenford, Global CEO of OLX, says, "Among the many countries that OLX is present in, OLX India has been among our best performing sites. The brand awareness and active user base that we have been able to build in such a big market like India is incredible, and our leadership position has been built on a well-executed strategy."
Mobile is the key driver for OLX.in growth
OLX was the first company in India to focus on mobile classifieds by offering a mobile site and native apps for all mobile operating systems. Mobile traffic for OLX.in has grown from just 5% of overall traffic in January 2012 to now 52% of overall traffic in July 2013, and continues to accelerate and grow at a blistering pace. OLX mobile apps have exceeded 3.2 Mn app downloads in India, and is amongst the top ranked and rated apps across all mobile app stores. The OLX Android app, for example, while being among top 25 free apps on Google Play store, is India's most popular ecommerce app with 4 times higher ranking and 10 times more reviews than Quikr.com, No. 2 player in the Indian online classifieds space.
Naspers will continue to invest heavily in India
Martin Scheepbouwer, CEO Classifieds at Naspers, stated, "Classifieds is a winner-take-all business, and OLX India has moved into the driver's seat in India by garnering a 60% market share with accelerating growth. We are enthusiastically backing this platform and this team to extend our lead further, and will invest heavily as long as it takes to achieve our goals."
About OLX.in:
OLX.in [http://www.olx.in] is India's largest online classified site. OLX.in offers a free, fast and hyper-local way for Indians to buy, sell or exchange used goods and services, by simply posting a free ad on the website. Every month, millions of people in India buy and sell a wide range of products including household items, furniture, consumer durables, musical instruments, cars & motorcycles, electronics & mobiles, property and local services on OLX.in. OLX.in is present in more than 1000 cities in India, which includes the Tier I, Tier II and Tier III cities.
Primary Media Contact: Nupur, [email protected], 91-7838437915
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