OLX Group announces $56 million investment in Carousell
Naspers’ Classifieds business, OLX Group, has announced a $56 million cash and equity deal with Carousell, one of Asia’s largest and fastest-growing classifieds marketplaces. As part of the investment, which gives OLX Group a 10% stake in Carousell, the companies will merge their operations in the Philippines.
Carousell and OLX will integrate their operations in stages over the course of the year. The merger and migration are expected to be fully completed in the second half of 2019.
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