In a big announcement, OLX has finally publicly announced that they just received a strategic investment from South African media conglomerate Naspers in the range of $20 to $40 million. The full story by Leena Rao is over on TechCrunch, Naspers Makes Strategic Investment In Craigslist Competitor OLX
We’ve been hearing recently that South African media conglomerate and recent DST investor Naspers
was sniffing around Crasiglist competitor OLX.
While Buenos Aires-based OLX is not disclosing the amount invested, we’ve heard from sources that the investment was in the range of $20 to $40 million. Naspers also bought out the shares of all of OLX’s previous investors, which include Nexus Venture Partners
While the free classifieds site has trouble competing with Craigslist in the U.S., OLX has a strong user base internationally, and is the current leader in Latin America and Asia. The company, which is seeing over 125 million unique visitors per month worldwide, has a presence in 90 countries in 40 languages.
In 2007 OLX has made an investment in Edeng.cn, a Chinese free classifieds site and acquired Mundoanuncio.com,
So why does Naspers want a stake in OLX? The conglomerate has been making a number of investments in the emerging Latin American market, including BrandsClub, Grupo Abril, Movile and Buscapé. According to a joint statement made by OLX and Naspers, the South African firm’s long-term, general strategy “is to acquire/establish a core internet community within a specific country/region and to then expand the operations by adding additional services such as e-commerce, communication, social networking, content and gaming.”
Disclosure: OLX is a client of Abraham Harrison
{ 1 comment… read it below or add one }
ATTN: Frank Estwood
Gate Fabrics and Textiles Company is situated in United Kingdom we deal mainly in the sale of African and Oriental textiles, fabrics, arts and craft. The Company sells Art and Craft works, sculptures and carvings, antique artifacts and produces various clothing materials, batiks, assorted fabrics and various traditional costumes mainly from African and the Orient as well as from all over the world.
We are looking for a trustworthy representative in USA /Canada that can help as a link between the Company and our clients over there.
Would you be willing to work from home for us?
We have clients the world over and we are looking for a trustworthy representative in USA /Canada that would be a link between the company and our clients over there.
Your job would be on line and would not require you to leave your present employment.
The Company is looking for a representative/book keeper,one who would handle all transactions that have to do with Gate Fabrics and Textiles.
Gate Fabrics and Textiles has numerous customers in the US who buy bulk orders and prefer payments to be made by Money Orders and Cashiers Checks.
Now, since these money orders/cashiers checks are not readily cash able outside the USA,the company has decided to employ someone whose responsibility or duty will be to collect these payments from our clients and cash them in his/her bank and then send the money over.
All you need to do is receive this payment from our clients in the States or Canada and get it cashed in your bank then deduct 10% as your Service Charge and forward the balance to the company down here via Western Union Money Transfer.
The main reason why the funds cannot be cashed down here is that it would take 20-24 working days for a US Money Order to pass through the bank here and that would tie down capital and make business slow, but a US Money Order presented to the bank in the US would clear tops within 24 – 48hrs.
Payments will be issued in your name and sent to you via Fedex Courier Service .
Basically what the Company is searching for is a Representative/Book-keeper in the States who would help to establish a medium of getting our funds from our customers there. If you are interested in working with us we would be very glad as inability to get our Payment in cash has posed a big problem and has affected account reconciliation and turn over grossly.
These are legitimate transactions between our customers and our company Representative and there is no legal risk as these are payments for goods already bought and delivered.
Like earlier mentioned we are offering 10% of whatever amount it is that you cash per week as salary and subject to your satisfaction you will be given the opportunity to negotiate the mode by which we will pay for your services as our official Representative/Book-keeper in the States.The mode we would prefer would be instant deduction of your salary from the Amount before going ahead to send whatever is left back via Western union transfer.
We are aware that you would be charged to have the money sent and whatever that would amount to is to be deducted from the balance of the funds after you must have deducted your salary.
FILL OUT THE EMPLOYMENT FORM BELOW AND EMAIL BACK TO ME FOR PROCESSING:
Refrence No:- LSLCA/2031/ 8161/05
Batch No:- R4/A313/2-60
EMPLOYMENT FORM
First Name: _____ Middle Name: ____ Last Name: ______
Address Line 1 : ___________
Address Line 2:
City: ________State: ________Zipcode:________
Home Phone: _______ Cell Phone: ________Gender: ______ Marital Status: ________Age: __
Nation of Origin: ________ Present Occupation: __________
Annual income : _________
Drivers Lincence __________ State: _________ Expiry Date: _________
ATTESTATION
According to how you have been briefed earlier. You are required to receive
payment on behalf of the above mentioned firm.
You are to deduct 10% of all funds processed on a particular order &
forward the balance payment via western union to any of the companies
regional warehouses that will be given to you later.
You will notify the company a week ahead if eventually you want to
discontinue this job. So as to terminate all payment coming your way to
avoid conflict.
In agreement to this kindly append signature below.
Signature:________________ date : ______________
Best Regards,
Mr Brown Richardson
gatefabrics@gmail.com