Lamudi Buys OLX Indonesia’s Real Estate Business
The Indonesian arm of property portal Lamudi has acquired the real estate business of OLX Group in the country. The financial details of the deal, however, weren’t disclosed. Founded by Rocket Internet in 2013, Lamudi is a real estate marketplace that currently operates in Indonesia, the Philippines, and Mexico. The company launched its Indonesia website in February 2014, and it has over 700 employees in the country to date. In 2020, Lamudi was snapped up by EMPG, a property platform based in Dubai. The Emirati firm reached unicorn status after purchasing several of OLX Group’s assets in the Middle East and Pakistan. After the latest acquisition, Lamudi Indonesia will control classifieds platforms that receive 4.5 million unique visits and more than 600,000 new property listings every month. Johnny Widodo, chief executive of OLX Group Indonesia, said that the interface and operations of its real estate platform will remain unchanged.
Tags : INTERNATIONAL Acquisition Indonesia Philippines Property Portal Lamudi OLX Group