Region’s leading online classifieds website, dubizzle has been fully acquired by the OLX Group, a subsidiary of South Africa-based investor Naspers, placing it at a value of $400 million, based on external calculations. The group had bought the remaining 49% stake in dubizzle for $190m in April 2018. It had already owned a 51% controlling stake in the website after buying it in 2013 for $120m.
“This step is a testament to the amazing decade dubbizle had in this region. The co-founders also felt that dubizzle is in good hands to move forward to continue its development under OLX Group,” said Barry Judge, general manager at dubizzle UAE.
Dubizzle was launched in Dubai in 2005 to allow users to advertise goods or services, currently operates in eight countries across the MENA region including Egypt, Lebanon and Saudi Arabia. It was founded by J.C. Butler and Sim Whatley, who stepped down from the day to day running of the company in 2013 after selling the majority stake to Naspers
