Since establishment, Olx has been termed ‘business elevator’ in the Kenyan trade sector and economy as well. A vast number of buyers and sellers have made the portal the go to site in case of goods and services sale or purchase. Just like any other renowned and successful companies, Olx has come a long way.
Back in March 2006, two entrepreneurs Fabrice Grinda and Alec Oxenford partnered in the launch of OLX in a common quest to establish efficient Consumer to Consumer trade. They launched in multiple countries at the same time with focus on emerging markets i.e Latin America, Africa and India. Fabrice was based in New York while Alec is still based in Argentina.
Fabrice left OLX in 2012 to pursue other businesses. In 2008, Naspers, the 5th largest media concern in the world, investing in 3 streams of businesses; Internet, PayTV (DSTV) and print media initially acquired a 67.8% holding in OLX.inc in August 2010, subsequently increasing it to 95%. Today, it is one of the world’s leading free classifieds online platforms, available in more than 100 countries and 50 languages.
With physical presence in only three African countries; South Africa, Nigeria and Kenya, Olx has also established in Uganda, Tanzania, Ghana, Senegal, Cameroon, Mozambique, Angola, Zimbabwe and Botswana. With major markets like eBay and Craiglist stuck in the western countries, OLX opened way for local market in the simplest form to accommodate the least informed.
Kenya is one of the countries that have recorded good reception of the portal since 2012 when it first launched. The simple form of transaction has attracted many smart phone owners to use the platform even without good infrastructure and at the same time accessing it at own convenience and space. In Kenya, OLX Kenya is the first type of e-commerce website to become big in the emerging market and has so far made an excellent impression in the state.
The classified portal has taken the Kenyan business industry by storm making a positive impact on how people go about selling and buying. This has also seen all businesses old and new get equal share of audience reach. Businesses via OLX today require little establishment of infrastructure making it an affordable way of conducting business.
In line with Kenyan pursuit of digitization, OLX Kenya has provided the means this time round in item purchases. Before, one would have to go round shops comparing prices and product quality in order to make a purchase but this is a different scenario thanks to OLX which has provided a digital market with individuals selling and buying goods or services at pocket friendly prices and provision for all regardless of societal class.
This has also changed people perspective on e-commerce which was associated with the west before therefore making Kenyans believe in the convenience and efficiency of carrying out business of any kind. It has opened ways to ICT use even in different means to promote and expose companies and expertise.
OLX Kenya has also powered SOMA awards a platform meant to recognize the growing influence of Social media since the role of social media influencers and enthusiasts has become a key component in business growth, government concerns and community development. The platform is also a success story of how social media has established efficiency among people in the country.
With genuine success stories from the common ‘mwananchi’, OLX Kenya continues to make tangible milestones in business entities as well as individual establishments encouraging self employment in the country as well.