Naspers pays for free advertiser’s stake

Aug 30, 2010 • James Mawson

Naspers acquired its stake in global online classified advertising company OLX from venture capital firms.

South Africa-based media group Naspers has acquired an undisclosed stake in OLX, a US and Argentina-based online classified advertising company operating in more than 96 countries.

Naspers acquired its stake from venture capital firms and the company, media reports said with news provider Techcrunch saying the cost was between $20m and $40m. Nexus Venture Partners added $5m to OLX’s series B round in May last year. OLX had raised $28.5m in total since its launch in 2006 from VCs Nexus,…

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