Home News OLX Brazil completes the acquisition of 100% of Grupo ZAP

OLX Brazil completes the acquisition of 100% of Grupo ZAP

The transaction supports OLX’s mission to reinvent the Brazilian consumer model and positions OLX Brazil as a key player in the real estate market.


Amsterdam, Oslo and Sao Paulo, 30 October 2020

OLX Brazil, the 50/50 joint venture between Adevinta ASA (OSE: ADE) and Prosus NV (AMS: PRX), announces today that it has completed the acquisition of Grupo ZAP, announced in March, for a total cash consideration of approximately R$2.9 billion. The investment has been equally financed by OLX Brazil’s two shareholders. The transaction received regulatory approval on 1 October by Cade, the Brazilian antitrust authority. As of today, OLX Brazil starts operating in the real estate market under the OLX, ZAP and Viva Real brands, with complementary positions to meet the different demands of end users, private advertisers and professionals within the sector.

CEO Andries Oudshoorn will continue to lead OLX Brazil while overseeing the two business units, OLX and ZAP, with operations running through the offices in Rio de Janeiro, São Paulo and regional branches. The combined entity will employ a total workforce of approximately 1,600 employees focused on reinventing Brazilians’ consumption model, of which 400 are tech specialists.

Andries Oudshoorn, CEO of OLX Brazil, comments: “With this acquisition, OLX Brazil strengthens its position in the Brazilian real estate market. Combining with Grupo ZAP will enhance the end-to-end experience for our users, professional customers and strategic partners. Our customers will benefit from integrating DataZAP’s data intelligence together with the existing high volume of data from OLX real estate, which positions ZAP as an important source of information with respect to the Brazilian real estate segment. The acquisition will also drive value creation on other strategic verticals within OLX Brazil.”

New structure of the Real Estate vertical

With the acquisition of Grupo ZAP, OLX Brazil takes a leading role in the Brazilian online real estate market. Together, OLX, ZAP and Viva Real platforms list 14 million real estate ads, with an average of 70 million visits per month and more than 40,000 professional clients (real estate agents, brokers and developers). In 2019, Grupo ZAP had net revenues of R$232.4 million and EBITDA of R$-15.8 million, with an average of 28 million visits per month. Despite the negative impact of Covid-19, Grupo ZAP year-to-date revenues as of September 2020 are above those of 2019 for the same period, and the company is now already EBITDA break-even.

The transaction reinforces the strategic importance and relevance of the real estate segment for OLX Brazil and occurs at a time of accelerated digitalisation and overall growth in this sector, driven by historically low interest rates and attractive financing.

Andries Oudshoorn adds: “The offline marketing spend still represents about 70% of the investments made by players in the Brazilian real estate market. Therefore, we see huge potential for digitisation in this sector, with numerous opportunities to create integrated solutions that make the experience of buying, selling or renting properties simpler and safer.”

Brian Requarth, founder of Viva Real and former chairman of Grupo ZAP, says: “The real estate market is the largest asset class in the world, and is at the beginning of its transformation. The combination of our strengths will bring the Brazilian real estate market into the future. I am sure that OLX Brazil will be able to leverage its strong technology culture and traffic position to accelerate innovation and take ZAP to new heights.”

About OLX Group and Prosus

OLX Group operates one of the fastest-growing networks of trading platforms globally. Serving 300 million people every month in 30+ countries around the world, OLX Group helps them buy and sell cars, find housing, get jobs, buy and sell household goods, and much more. With more than 20 well-loved local brands including Avito, OLX, Otomoto, and Property24, its solutions are built to be safe, smart, and convenient for its customers.

OLX Group is powered by a team of 7,500+ people around the world, who are unified in their ambition to shape the future of trade to unlock the hidden value in everything. For more information, visit

OLX Group is a division of Prosus, a global consumer internet group and one of the largest technology investors in the world. Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and a secondary listing on the JSE Limited (XJSE:PRX), and is majority-owned by Naspers. For more information on Prosus and its companies and investments, please visit

About Adevinta ASA

Adevinta is a global online classifieds company with generalist, real estate, cars, jobs and other internet marketplaces in 16 countries, connecting buyers seeking goods or services with a large base of sellers. Its portfolio spans 36 digital products and websites, attracting 1.5 billion average monthly visits. Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios in Spain, and 50% of fast-growing OLX in Brazil. Adevinta was spun off from Schibsted ASA and publicly listed as an independent company in Oslo, Norway in 2019. Adevinta is majority owned by Schibsted ASA.

About OLX Brazil

In Brazil since 2010, OLX Brazil’s shareholders are two of the main technology investors in the world: Adevinta ASA (50%) – listed in Norway and majority owned by Schibsted ASA – and Prosus N.V. (50%) – listed in the Netherlands and majority owned by Naspers Ltd. OLX Brazil’s mission is to empower people to achieve their dreams reinventing the way they buy and sell online. The company does this through technology designed locally, helping its users to buy and sell almost anything in a safe, transparent, smart and convenient way. By encouraging the trade of used goods, OLX Brazil directly contributes with the reduction of waste, CO2 emissions and the usage of natural resources. OLX Brazil plays a pivotal role in building a better world through a socially & environmentally responsible business model. OLX Brazil had approximately R$ 350 million in net revenues in 2019 and is continuously increasing profitability.

About Grupo ZAP

Grupo ZAP is the result of the merger of ZAPImóveis and Viva Real in 2017. ZAPImóveis was created in 2000 and is indirectly owned by some of Grupo Globo’s shareholders since 2013, while Viva Real, on its turn, was launched in 2009. Grupo ZAP has the mission to transform the way the real estate market operates through technology. With 26 offices across the country, it has a relevant database in the market, developing products, intelligence, services and information to generate gains and rightful decisions to parties involved.