OLX Raises $13.5 Million

OLX, a distribution partner of Rent Marketer, has recently announced they have raised $13.5 million in series B funding from General Catalyst, Bessemer Venture Partners, Founders Fund, and DN Capital.

TechCrunch says according to co-founder Fabrice Grinda, that “OLX is probably the largest classified site no one has ever heard of.”

Think of OLX as a craigslist with more functionality, less spam. less scammers and better results.

“We were launched in June 2006. We now generate over 1 million new ads per month (after removing over 500,000 spam ads) and over 200 million page views per month. We would not have gotten there had we not had the cash to advertise and buy a few companies.” says Fabrice.

How does OLX limit the amount of spammers and scammers on the free site?

“We do our best to limit it through a combination of community feedback, manual review, blacklisting, etc. and are still working on our silver bullet. We have a few cards up our sleeve”

Great work Fabrice.