#52: OLX Africa - How the Classifieds platform initially grew and eventually shut down across Africa
Afrobility: Africa Tech and BusinessPlay episode
Show notes
Overview: Today, we’re going to talk about OLX - the classifieds & marketplace platform. We’ll explore the OLX Africa story across 4 areas:
OLX's early history OLX's growth in other emerging markets OLX Africa's early history & Naspers acquisition Naspers OLX exit from Africa This episode was recorded on June 5, 2022.
Companies discussed: OLX, Jiji, Craigslist, Konga, Naspers, Kalahariads, Dealfish, Pricecheck, Mocality & Tradestable
Business concepts discussed: Classifieds platforms, classifieds monetization, M&A strategy, e-commerce, social commerce, lift and shift business models & international expansion
Conversation highlights:
(01:30) - OLX context (06:30) - How classifieds work (12:00) - OLX founding and early history (26:03) - OLX entry into other emerging markets (31:10) - OLX entry into Africa (45:32) - Product and monetization strategy (58:17) - Discussing OLX’s Africa exit (1:22:54) - Olumide’s overall thoughts and outlook (1:10:58) - Bankole’s overall thoughts and outlook (1:38:39) - Recommendations and small wins
Olumide’s recommendations & small wins:
Recommendation: Microsoft 365. I’ve used it for 17 years and it just gets better and better Small win: Using my old Lenovo ThinkPad from 2016. My computer crapped out on Friday and so I had to dust the cobwebs and it still works Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.
Bankole’s recommendations & small wins:
Recommendation: Cryptocurrency 161, Reversion to the mean: the real long COVID - by John Luttig & Heartwarming story - Installing a payphone in my house Small win: 4 mile run after a long break Other content: Why I am leaving OLX - Fabrice Grinda, Margin Call - IMDB & Larry Tesler - Inventor of Copy and Paste
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