Free International Classified Site, OLX, Raises $13.5 Million in Funding to Compete with Craigslist

By April 15, 2008 3 comments rivals with free classified ads and a larger reach outside the U.S.; it hopes to secure cyberspace positioning with the latest acquirement of $13.5 million in capital.   General Catalyst, Bessemer Venture P

artners, Founders Fund and DN Capital are the investors in the latest round of funding which adds to the $10 million the company raised in September 2006.   Grinda revealed on his blog that the new capital will likely ensure company stability during a period of economic downturn, as well as eventually make certain the company is eventually profitable.   The company intends to use the funds to: Construct “the best site in the market.” Expand global operations beyond the 40 countries where they currently exist. Acquire more sites (To date, OLX has acquired,, and invested in Maintain aggressive marketing measures. Though similar to the popular U.S. classified website,, OLX boasts greater popularity outside the U.S. in addition to greater funding than any other classified Website.  OLX, headquartered in New York, started in 2006 by Fabrice Grinda and Alex Oxenford. It operates in 40 countries in 15 languages and is most popular in Spain, India, Portugal, Mexico, South America, China, and the Philippines   “OLX is probably the largest classified site no one has ever heard of,” said Grinda.   OLX’s goal has been to improve on the technology of typical classified Web sites. This includes providing Web 2.0 features, such as a Facebook application that allows users to display listings on their profile page and use OLX without leaving Facebook. In addition to Facebook, listings can also be promoted on MySpace, Xanga, and Blogspot. OLX users can also embed videos and access the site from their mobile phone.    Kathleen Clark   FEEDBACK For comments on this article, email us at

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