CarTrade Acquired OLX, Know How Much The Deal Was Done And How Much Business Was Bought

sarkarijobfind.com Credit - twitter By, Muhd. Faizan Date - 15/08/2023 J

CarTrade Tech, a used car marketplace in India, acquired OLX India's auto business for ₹537 crore (US$70 million) in July 2023.

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The deal includes the acquisition of Sobek Auto India Pvt. Ltd., which operates the OLX classifieds platform and OLX Autos C2B transaction businesses in India.

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The acquisition will give CarTrade a dominant position in the Indian used car market, with a combined monthly unique visitor base of 68 million and 32 million listings.

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It will also allow CarTrade to expand its offerings to include new categories such as motorcycles, tractors, and commercial vehicles.

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The deal is part of a larger trend of consolidation in the Indian online classifieds market.

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In recent years, there have been a number of other acquisitions in the space, including Quikr's acquisition of CommonFloor and Magicbricks' acquisition of Makaan.com.

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The consolidation is being driven by the increasing competition in the market and the need for scale to achieve profitability.

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It is expected that the trend of consolidation will continue in the coming years.

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150 देशों को दवा निर्यात करती है यह फार्मा दिग्गज, Q1 में शानदार प्रदर्शन; जानें पूरी डीटेल

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