CEBU, Philippines - Anticipating the phenomenal growth of mobile and online-based transactions, OLX Philippines is intensifying its presence in Southern Philippines, using Cebu as its gateway.
Although this online classified service provider has been present in Cebu market for almost a year now, there is a need to make its presence felt as online classifieds is still in its infancy stage, said OLX Philippines chairman RJ David during the formal opening of the company's office yesterday at Unit 3 of Mercedes Benz Tower at the Cebu Business Park.
David said there is a need for the company to intensify its advocacy in promoting market awareness on the online classified service, specifically to the mainstream segment.
The buy and sell website is now gaining popularity among second-hand sellers and buyers, with over three million registered sellers.
In Cebu, popular searched items include cars, motorcycle and iPhones. Top products successfully sold via the platform are cellphones/smartphones, notebooks/laptops, computers and cars.
David said the company is now moving up in drawing interest from the larger mainstream market including the housewives to use the OLX platform to earn from selling their second-hand products online.
Previously known as Sulit.com.ph, OLX.ph currently has three million registered users selling and buying online through the website.
The Cebu office will be the company's headquarters for Southern Philippine operations, as well as the meet-up-hub for its sellers and buyers.
OLX.ph was officially launched in the first quarter of this year after their majority share holder company Naspers, based in South Africa, acquired the online classifieds company last year.
Sulit.com.ph then became part of OLX network and became the local arm. It also recently acquired the local online classifieds Ayosdito.com.
Sulit.com.ph was founded in September 2006 by couple RJ and Arianne David with an investment of only P2,400 for hosting fee (P600) and for the domain name (P1,800).
To grow the company further, the couple talked to several venture capitalists and ended up clinching a deal with Naspers, a South African multinational ads media company in August of 2009.
David said that their thrust is to grow the company further and tap more Filipinos to use their platform to buy and sell online.
David added that they are also slowly positioning their company as a mobile company to coincide with the trend now wherein people are moving towards mobile devices.
"That's why we have shifted to mobile and has developed applications available for download at Google Play Store for Android devices and App Store for iOS devices," said David. — Ehda M. Dagooc (FREEMAN)