According to one of our polls many of you didn’t know that OLX is actually a part of the UAE based multinational Emerging Markets Property Group (EMPG) that operates OLX Egypt (also OLX in Lebanon, Pakistan, and UAE among others) after merging with the Dutch based OLX Group that started all of this back in 2006.
This merger deal made EMPG’s valuation soar to over a billion US Dollars in 2020 and since then the valuation has doubled, ushering in a new era in the online classifieds business in the most promising regions in the southern hemisphere.
As part of the deal, OLX Group will become EMPG’s largest single shareholder, owning 39% of the company with a US $150 million investment round that will be used 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.
Read more details about the deal here https://www.olxgroup.com/press/empg-and-olx-group-announce-merger-mena-and-south-asia-businesses and we will be sharing more information about the Heads of EMPG and more about our partners in over 16 countries around the globe.
