Naspers subsidiary OLX Group led a $120m round for the e-commerce app developers, which have agreed to merge, and will own 40% of the combined entity.

US-based mobile commerce platforms Letgo and OfferUp agreed yesterday to merge in a deal fuelled by a $120m funding round led by classified listings operator OLX Group. OLX Group, a subsidiary of for e-commerce and media group Naspers’ internet assets division, Prosus, is an existing investor in Letgo and will take a 40% stake in…

The rest of this content is only accessible to Global Corporate Venturing Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.