OLX INDIA
CarTrade Tech shares jump 14% on highest ever revenue in Q4, PAT grows 43% YoY
For the full financial year the revenue stood at Rs 555.23 crore recording a 30% YoY jump while the net profit was at Rs 82.13 crore which was a 103% growth.
Prosus elevates Ashutosh Sharma to lead India, Southeast Asia market
Ashutosh Sharma appointed by Prosus to lead investments in India and Southeast Asia. He will report to interim CEO Ervin Tu and focus on new investments and collaborations with portfolio firms like Swiggy.
Average unicorn time for startups down to 5.5 years: Report
India ranks third on the list of most unicorns birthed by a country, but only two companies hit the $1-billion-plus valuation last year. The new economy of startups had contributed 15 public listings so far, the report added.
CarTrade's Sobek shuts customer-to-business operations, shifts focus to classifieds business
Sobek Auto’s C2B transaction business struggled with its unit economics. The company aims to reduce both human resource and other administrative costs and to explore partnership opportunities with other players.
CarTrade Tech says it owns classifieds platform OLX’s entire India business
The company had earlier said that it was acquiring 100% of Sobek Auto India Pvt Ltd, the entity that houses OLX India's auto business, but added in a new statement that Sobek also consists of the OLX classifieds platform.
CarTrade Tech shares jump 17% on acquisition of OLX India’s auto business
The cost of acquisition of Sobek will be for a consideration of Rs 537.43 crore which is to be paid on the completion date of the acquisition, the company said in a filing to the exchanges. The nature of consideration is cash, the filing added.
- Go To Page 1
CarTrade to acquire OLX India’s auto business for Rs 537 crore
In a stock exchange filing on Monday, CarTrade said that it will acquire 100% stake in Sobek Auto India Pvt Ltd, the entity which houses OLX India’s automotive business for a cash consideration.
Online marketplace OLX Group lays off 800 employees globally
According to publication TechCrunch, the move comes as the company begins to phase out activities of its automotive business arm Olx Autos in several areas after a lengthy search for potential buyers and investors.
OLX to slash workforce by 15%, fire at least 1,500 employees
The company, owned by Prosus, started its business in India in 2009 and operates OLX and OLX Autos. Prosus is controlled by South Africa-based internet giant Naspers.
More recruiters, higher salaries at NITs this placement season
A strong line-up of recruiters, higher average salaries and a greater number of offers so far in comparison to last year at the NITs in Hamirpur, Jalandhar, Calicut, Durgapur and Jamshedpur are early signs pointing to a strong placement season.
Ola shuts down used cars and quick commerce businesses to focus on EVs, ride hailing
In an official response, the company spokesperson confirmed the development and said, Ola has reassessed its priorities and decided to shut down the quick commerce business. The Ola Cars infrastructure, technology and capabilities will now “be repurposed towards growing our Ola Electric sales and service network,” the spokesperson said.
OLX Autos appoints Siddharth Agrawal as country head of marketing
An alumnus of NMIMS, he comes with a wealth of experience spread across marketing, sales and operations in multiple leadership roles in the FMCG and mobility sector, with organizations such as Unilever and OLA.
Cars24 may hit $3 billion valuation in new funding round
Cars24 is considering a secondary share sale as part of the round, but it hasn’t been finalised yet.
King cons of small towns: Inside India's cottage industry of cyber thieves
Whereas previously Jamtara in Jharkhand was the hub of cyber fraudsters, new hubs have emerged, just like fresh faces being introduced in a talent contest.
Indian used car market to grow 12-14% in next few years
The Indian used car market is expected to reach a size of over 70 lakh vehicles by 2025-26, up from 38 lakh in 2020-21, a study by OLX Autos-CRISIL has shown. The study found that with many people preferring socially-distanced personal mobility, during and because of the pandemic, the pre-owned car market is expected to continue to be a sunrise sector.
OLX Autos crosses $1 billion-sales milestone
"Introducing home and self car inspections during COVID-19 has helped our customers cope with the lockdown period that hit many of our markets when car inspection centres had to close their doors for a time.
Demand for used goods continued unabated during pandemic: OLX India
Demand for pre-owned goods far outpaced the demand for new goods, driven primarily by consumers in non-metro markets. There is also an increase in listings by sellers from non-metros in the second half of 2020 especially for goods such as laptops, fridges and ACs.
Safer Internet Day: Users should be conscious of their digital actions, says OLX India exec
OLX India's 2021 theme for Safer Internet Day — ‘Together for a better Internet’— tries to highlight risks and underscores the need for digital safety for all.
OLX launches franchisee model for used cars
Customers will have access to a larger inventory of cars, avail warranty services, roadside assistance, and insurance on their pre-owned car purchases.
Unfortunate that investing has turned political, globally: Naspers' Bob van Dijk
India banned 59 Chinese origin apps last month, including TikTok, and there have been reports suggesting that the United States could follow suit, amid a larger US-China trade war that has been raging between the two countries for some time.
Spurt in demand for pre-owned personal vehicles: Report
OLX and OLX CashMyCar had conducted a study with over 3,800 respondents between April-June 2020, and also analysed indicators from over 4.5 lakh monthly average 'buyers+sellers' on the OLX platform over the same period.
91springboard raises Rs 45 crore in fresh funding
As soon as the lockdown was announced in March, 91springboard had paused it’s billing cycle on membership plans offering some respite.
HC restrains OLX, Quikr from posting fake Reliance job ads on web portals
The web portals are engaged in publishing classified advertisements and they enable consumers to publish advertisements for selling and offering goods and services for a consideration.
Most sold brands on our platform are Maruti Suzuki, Hyundai & Honda: OLX CMC's Bhaskar Bagchi
Auto is the largest category for OLX in India and generates 45% of the revenue for OLX India, says Bhaskar Bagchi, General Manager, OLX CashMyCar (CMC).
Pre-owned car sales expected to grow 10 pc in 2019, millennials emerge biggest buyers: OLX
At 440 million, millennials comprise over a third of India's population, and nearly half of the total working population.
India is among top growth markets for OLX: Sushil Kumar, GM, OLX India
"People browse the app for market understanding to begin with, and then eventually convert to buyers and sellers on the platform," he said
OLX refreshes brand identity, upgrades app & web experience
The OLX platform been helping users buy, sell or exchange almost anything.
OLX elevates Sushil Kumar as General Manager for India
He will be responsible for digital innovation, portfolio expansion, partnerships and most importantly- customer centricity and culture.
Load More
