OLX INDIA

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.

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.

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.

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.

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.

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.

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.

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.

Finding a buyer for your car isn’t that difficult, but ensuring that you get a good price for it and the transfer happens smoothly can be challenging. Here are some simple tips that can help you get a better deal when you sell your vehicle.Planning ...

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.

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.

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 repur...

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.

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.

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, dur...

"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.

Customers will have access to a larger inventory of cars, avail warranty services, roadside assistance, and insurance on their pre-owned car purchases.

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.

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.