#52: OLX Africa - How the Classifieds platform initially grew and eventually shut down across Africa

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 [email protected]

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

Listeners: We’d love to hear from you. Email [email protected] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [email protected]

Investors: It would be great to link up with you. Contact us at [email protected]

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