It seems OLX has bought over TradeStable (its closest competitor) and is redirecting all traffic from the Tradstable site back to it.
Reports has it that this development comes as a shock as financiers (Schibsted and Naspers) of the two companies never mentioned a merger in the works between the two companies in Nigeria despite having done same in four different countries.
One of the reports even quotes Rolv Erik Ryssdal, CEO of Schibsted Media Group, last year during the merger of their companies in Brazil, Indonesia, Bangladesh and Thailand as saying that: “Schibsted, our existing partners and Naspers have all been at the forefront in developing high quality, online marketplaces for consumers wanting to buy and sell in a number of emerging markets. By joining forces, we will be able to further develop these market places even more efficiently.”
A visit to TradeStable.com makes news of the merger more convincing as you’re greeted with a notice of the takeover and a redirection to OLX’s website.
This probably means that we can expect to see more such partnerships in countries where both OLX and Schibsted are present.
Featured Image: OLX