If you have missed out on the Badi Badi Baatein ad which has been running on the television for quite some time now, do check it out. I am embedding the ad below as well (I love the melody and the jingle … not to mention that sometimes I do identify with the procrastination tendencies as well!!)
OLX is the india classifieds of the internet. Where people go to the site for searching good deals, selling their stuff or even offering professional services.
The market for local online market places is heating up. The once free model of Craig’s List has suddenly seemed more viable and profitable by a lot of Indian players. However, do not worry, the local marketplace model is not only Badi Badi Baatein … there is huge money in this business.
How does this free model turn profitable?
Well, lead harvesting for one. Providing correct information to the people seeking it for another. Essentially creating a marketplace where otherwise there was only ignorance.
Where else would I go for finding a second hand slightly used Samsung Galaxy SIII for INR 20000?
As I said before there are multiple players in this game … but I feel of the lot, OLX is different.
OLX stands out
With a clean User Interface (UI), simpler forms and very easy user experience, I have found that OLX is the easiest to operate. Yes, I do use the site for promoting my companies offerings in the different targeted cities.
The good part about the OLX site is that when my ad goes beyond the listing due to inactivity, I get reminded via an email … clicking on the email automatically logs me in and lets me edit my listing. This way, I can fine tune my listing and hope to generate more business.
Success is not only defined on how well the website looks … if you have gone through any of the different and varied category/city listings on OLX, you will suddenly see a plethora of different listings … people wanting to purchase something or the other, people offering services … the perfect online souk.
In any market, there initially is a lot of people who are shouting and vending their wares … over a period of time as the market matures, the successful businesses buy out the lesser successful ones and the market quietens down. And from there a clear leader emerges. I won’t be too surprised if OLX is among those leaders of online local marketplaces in the future.
The fact that they have received their Series A funding simply goes to point out that people are willing to put their money where their mouth is and that this business is a profitable one.