Carousell to acquire OLX Philippines business

Two of the leading buy and sell platforms in the Philippines, Carousell and OLX, will merge soon.

In a report by DealStreetAsia, the announcement came after Singapore-based Carousell received a $56PHP 3,286INR 4,746EUR 53CNY 408 million funding from Naspers’ OLX Group. And as part of the deal, Carousell will acquire the OLX Philippines business. Raffy Montemayor, General Manager of OLX Philippines, will manage Carousell’s operations in the market and lead the transition.

According to OLX Philippines, the integration with Carousell Philippines will happen in stages over the course of the first half of 2019. Consumers will still be able to use both platforms until then. OLX will also continue to update its users about the development through various channels.

You can check out OLX Philippines’ FAQ page here for more information on the Carousell-OLX integration.