BUSINESS, NEWS

OLX is now Carousell

The two leading buy and sell online platforms in the Philippines have merged.

OLX Philippines and Carousell.ph are now just one and the same. This came after the global investor Naspers, through its classifieds business arm OLX Group, made an investment of over US$56 million in the Singaporean online marketplace, Carousell.

olx-carousell

OLX sent its users an email, on June 19, getting their permission to move their accounts to Carousell.

With this update, starting July 15, users who will log in to OLX will be re-directed to Carousell. They can, however, continue to use their OLX accounts until July 9.

Migrating accounts between the two platforms will be from July 10 to 14. On these dates, the OLX platform can still be accessed, but only for purchasing items.

Meanwhile, paying OLX users were assured that they can still continue to use the platform. (Click here for more information.)

Users will be able to connect to 6 million fellow users in the country once the OLX-Carousell integration is completed — meaning, buyers will have access to bigger selections and sellers can reach more customers.

The investment made by Naspers values Carousell at US$550 million. It also gives OLX Group a 10 percent stake in Carousell.

“With the acquisition, more value will be brought to sellers and buyers together in a vibrant marketplace that creates even more possibilities for the community,” Carousell Co-founder and Chief Executive Officer Quek Siu Rui said, as reported by the Philippine Star in an article published in April.

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