SOURCE: OLX

OLX

February 04, 2010 10:00 ET

Global Classifieds Giant OLX Expands in Brazil

Huge Growth Expected in Leading Latin American Online Market

SAO PAULO, BRAZIL--(Marketwire - February 4, 2010) - OLX, already present online in 90 countries, has announced the opening of a new office in Brazil. OLX.com.br has grown by 450% in the last two years and already counts 14 million visits per month in Brazil, with more than 1 million published items. The online classifieds company expects continued strong growth, aiming for 20 millions visits per month in 2010.

"The new office complements OLX's presence in Latin America and allows us to be closer to our local clients, create marketing action plans and provide better technical support and stronger client relationships," says Rodrigo Ribeirão, head of operations of the new Brazilian unit. Through those efforts, OLX anticipates attracting an even bigger Brazilian customer base, advertising and buying and selling online.

OLX offers seven categories of ads: real estate; autos, motorcycles and boats; community; classes; jobs; meeting people and services. The market for autos, real estate and jobs has the highest demand, representing more than 1 million ads published in Brazil and around 40 million around the world.

OLX sees Brazil as a very promising market since the country already has 67 million internet users and 14 million of them visit the OLX.com.br site every month. "We see Brazil as one of the most attractive online markets in the world. With the largest and most mature online market in Latin America, our goal in having a local presence is to better understand the Brazilian internet user and adapt our products to the needs and preferences of the local buyer and seller. Furthermore, with the opening of the Brazilian office, we expect our local activities to grow by 175% in the next two years, reaching 3.5 million active ads on the site," explains Alec Oxenford, founder and CEO of OLX.

About OLX

OLX is the next generation of free online classifieds. OLX is used in over 90 countries in 40 languages. The company was co-founded in March 2006 by Internet entrepreneurs Fabrice Grinda and Alec Oxenford. OLX is privately held. The company is based in New York, NY and Buenos Aires, Argentina and operates two leading online classifieds networks hosted at www.olx.com and www.mundoanuncio.com. For more information, visit: www.olx.com.br

Contact Information

  • CONTACT:
    Fabrice Grinda
    Co-CEO
    OLX, Inc.
    #(917) 371.5441
    Email Contact