Naspers Invests In Classifieds Site OLX

OLX

Naspers, the South African media company which owns stakes in a number of digital properties, including Facbeook-backer Digital Sky Technologies, has made a “strategic investment” in classifieds site OLX. Founder Fabrice Grinda tells us Naspers made the investment “both by investing and by buying shares from existing shareholders.”

TechCrunch, which first reported the deal, says Naspers put between $20 million and $40 million into OLX and bought out all of its venture capital backers, who had put $28.5 million into the company to date. OLX, which has a big presence outside the U.S., particularly in Latin America, has billed itself — in the past — as the “largest free-classifieds site no one

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