Leading Asian marketplace Carousell has officially merged its operations with OLX in the Philippines. The merger was agreed upon in April when Naspers-owned OLX Group bought a 10 percent stake in Carousell for $56 million U.S.
In a statement announcing the deal, OLX said: “Carousell’s passion and advancement in product and innovative technology, coupled with OLX Philippines’ wealth of local experience in managing online classifieds for 13 years in the country, will deliver a seamless personalized user experience.”
The merger took place over several phases. OLX Philippines GM Raffy Montemayor will manage Carousell’s Filipino business.
The two marketplaces will combine their very different audiences to dominate the market. Carousell reports a predominantly female audience with high performing women’s fashion, health, beauty, home, and furniture categories. OLX on the other hand, reports a majority male audience with consumer electronics and property categories leading the way.
As part of the merger, No.1 Filipino property vertical Property24 will also become part of Carousell Philippines. Carousell launched its property vertical in 2017 and will likely benefit from Property24’s experience. Real estate sellers will benefit from the massive audience and the opportunity to cross-sell.
The transition is already underway with accounts and listings migrated to a single platform under Carousell.ph from yesterday. The companies haven’t announced sales targets. Instead, they’ll be focused on creating a “great migration experience”. Sellers will enjoy unlimited free ads in selected categories for now.