In Pakistan and the UAE, both groups’ platforms will be operated by EMPG and will continue to operate through their well-known local brands. Registered in England and Wales. OLX Group is a global product and tech company that takes pride in its user-centricity. The aggregated value of properties sold in these markets is estimated at US $90 billion, providing a commission pool for real estate agencies of over US $2 billion per annum. We’re a global product and tech group. OfferUp raises $120M, will acquire rival Letgo; OLX Group to own 40% of combined entity It’s a big day for OfferUp. OLX Group, a Prosus ’s global classifieds business, alongside existing EMPG shareholders, will also invest $150 million into the group, which values EMPG at US $1 billion after the transaction. See the full list at Craft. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. As part of the deal, OLX Group will contribute its operations in the four countries into EMPG and will become EMPG's largest single shareholder, owning 39% of the company. The OLX Arabia app is the region’s leading shopping app, and ranks among the top 10 in Egypt. Copyright © 2020. As part of the transaction, OLX contributed its operations in each of Pakistan, Egypt, Lebanon and the UAE (including the businesses operating as Dubizzle, Masterkey and We Cash Any Car) into EMPG and led a USD150 million funding round with participation from existing EMPG shareholders. Click 'Accept' to consent to cookies other than strictly necessary cookies or 'Reject' if you do not. Informa Markets, a trading division of Informa PLC. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. OLX Egypt | 2,561 followers on LinkedIn | A global brand with local expertise, empowering people to upgrade their lives! OLX GROUP - Istanbul Nov 28 letgo is the largest and fastest-growing app to buy and sell locally. letgo is affiliated with OLX Group which is the one of ... a global product and tech group with: +20 brands 15 time ... upgrade their lives. Amsterdam and Dubai: Emerging Markets Property Group (EMPG), a leading property portal group in emerging markets, and OLX Group, Prosus’s global classifieds business, have announced their merger in Pakistan, Egypt, Lebanon and the UAE. The agreement includes a US $150 million investment round, led by OLX Group along with existing EMPG shareholders, which values EMPG at US $1 billion after the transaction. OLX is the easiest and fastest way to post a free Ad. The deal includes merger of OLX Group’s classifieds business with Emerging Markets Property Group (EMPG) in Pakistan, Egypt, Lebanon, and the United Arab Emirates. At the same time, they wanted to find a way to test the relative performance of … Join the millions who buy and sell from each other everyday in local communities around the world. Since its launch in 2005 by J.C. Butler and Sim Whatley, dubizzle.com has become the number one platform for users to buy, sell, or find anything in … The combination of a number of home-grown businesses to create a "UAE Unicorn" is a further validation of the UAE's status as a regional tech hub.". Price from Price to Clear parameters. Find out about our well-loved brands including Avito, OLX, and Otomoto, read our latest news, and explore the open roles available across all our offices. Cityscape Intelligence is part of the Informa Markets Division of Informa PLC. EMPG will use the new capital to develop a range of new services, creating a more seamless user experience, enhancing data transparency, and deepening market intelligence for both consumers and business users. OLX is the online global classifieds business of Prosus, a global consumer internet group and one of the largest technology investors in the world, serving more than 300 million people every month and operating more than 20 consumer brands. https://www.cityscape-intelligence.com/sites/all/themes/penton_subtheme_cityscape_intelligence/images/logos/footer.png, Deal includes OLX Group's businesses in Pakistan, Egypt, the UAE and Lebanon, Trending: A new tool for heightened employee and workplace wellness, Luxury retailers pivot global expansion strategies towards Asia Pacific, Suburban offices attract investor interest, 6 digital trends that will change the future of workplaces in the Middle East. The next phase is an exciting one, with EMPG ’ s real estate services in these.... To scale using our proprietary tech has aided and enabled this expansion we. Of the Informa markets Division of Informa PLC and all copyright resides them! 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