OLX increases its annual investment in Brazil by 25%

OLX will invest R$ 250 million in 2019 in its operations in Brazil – an increase of 25% over the previous year. Even with such a high investment, the company is one of the few in the Brazilian technology market that has such a fast growth and profitability trajectory.

Platform revenue more than tripled over the past three years, making it a profitable business. With R$ 312 million in revenue, 2018 was another year of accelerated growth for the brand. The figure is 70% higher than the one accumulated in 2017, with a 10% EBITDA margin.

“We brought a lot of news to the market in the last year. We launched a vertical of autos specialized in professional advertisers – Autoshift, and we offer additional services such as protected purchase, financing and vehicle inspection reports. With this, we have become absolute leaders in the automotive segment. In addition, the platform has had the highest number of ads among real estate players – 50% more than in 2017, “explains Andries Oudshoorn, CEO of OLX Brazil.

“We are investing heavily in technology to modernize the platform, which is developed 100% in Brazil. In 2019, we’ll hire 120 product and tech professionals to advance even more in Machine Learning projects”, adds the CEO.