Thursday, April 18

Tag: OLX

OLX Cash My Car launched its 50th store
News

OLX Cash My Car launched its 50th store

New Delhi: Naspers-owned OLX Cash My Car, today announced the opening of its 50thstore in Bandra, Mumbai a milestone for the brand’s strategic expansion plans in India. OLX Cash My Car has continued to expand its footprint aggressively with presence across 10 key cities in India, since its launch in August 2018. During the last month itself, OLX Cash My Car clocked around a couple of thousand transactions from its existing network of stores, underlying the strength of its reach and customer base. In keeping with the company’s ethos of building scale, OLX Cash My Car plans to expand its operations to have 150 pre-owned car stores by end of 2021 spread across 40 Indian cities. Today, the 50 OLX Cash My Car stores are operational in 10 cities - New Delhi, Gurgaon, Faridabad, Noida, Ghazia...
OLX Generates 3 Times Revenue With Pre-Owned Cars Category
BUSINESS

OLX Generates 3 Times Revenue With Pre-Owned Cars Category

India's Online marketplace Olx has triple its revenue in the second-hand cars selling category by doubling its business seller base in 2017. The automobile category, which comprises of cars and bikes, is the most active section on the mobile platform and accounts for 45% of total user visits. 15,000 cars are up for sale on the app daily and each car obtains an average of above 1000 views. Additionally, in 65% of cases, a week is all it takes to sell a vehicle on the app. The market size for pre-owned cars in India presently stands at 3.8 Million units and OLX claimed to hold 77% of the market despite competing with CarDekho, CarTrade, Droom, Quikr, etc…. Moreover, OLX currently possesses 85% market share in consumer-to-consumer online trade and presently registers 6 billion page view...
Indian Homes Have Rs 78,300 Cr Worth of Used Goods: OLX Report
ANALYSIS

Indian Homes Have Rs 78,300 Cr Worth of Used Goods: OLX Report

Indian homes are estimated to have over Rs 78,300 crore worth of used goods like clothing, utensils and books, a study by used goods marketplace OLX said today. According to the third edition of Consumer Research on Used Goods and Selling Trends (CRUST) Survey 2015-16, the estimated market for used goods was about Rs 56,200 crore. In its first survey in 2013-14, OLX had coined the term Brown Money to represent the value locked in unused goods gathering dust in homes. The report prepared by OLX and market research firm IMRB found that on an average, every Indian household is stocking 12 clothing items, 14 kitchen utensils, 11 books, 7 kitchen appliances, 2 mobile phones and 3 watches. South India leads other regions on stocking, while among cities, Chandigarh and Kochi at 98 per cent le...
Quikr lost Rs 9 for every Re 1 earned last fiscal
ANALYSIS

Quikr lost Rs 9 for every Re 1 earned last fiscal

One of the top two online classifieds sites in the country, Quikr saw its losses more that double last fiscal as it sought to stretch its lead over Naspers' controlled OLX with turbo charged marketing. Quikr, that counts Warburg Pincus, eBay, Kinnevik, Tiger Global, Falcon Edge, Steadview, Matrix Partners, Omidyar and Norwest Venture Partners among its investors, saw its revenue from operations grow 23.7 per cent to touch Rs 24.78 crore. The firm, however, saw total income rise to Rs 52.5 crore, thanks to 'other income'. At the same time its EBITDA (or operating) loss and net loss more than doubled from around Rs 200 crore to Rs 440 crore. This means for every Re 1 worth of income it generated it lost some Rs 9. Indeed, if one factors out its non-operating revenues, it lost Rs 18 for...