Dubizzle Group has announced the sale of its Lamudi property portals in the Philippines and Indonesia to Australia-based Digital Classifieds Group in alignment with its strategic objective to focus on the growth of its core business activities in GCC and Greater MENA markets, while further consolidating its position as the #1 classifieds platform in the Middle East.
Imran Ali Khan, the visionary Co-Founder and CEO of Dubizzle Group, shed light on this strategic move, stating, “Our journey in South-East Asia, crowned by the creation of a robust platform, was a testament to our global ambitions. However, the vast potential of the GCC and MENA regions beckons us. Our focus now is to dive deep into these markets, leverage our technological prowess, and deliver innovative solutions that our partners and consumers have come to expect from us.”
The Dubizzle Group isn’t new to leadership positions. Its flagship platforms, such as Dubizzle, Bayut, Zameen, and OLX, are testimony to its dominance, reigning supreme in their respective regions, from the UAE and Egypt to Pakistan. With staggering numbers like 123 million monthly visits and a solid user base of 27 million every month, Dubizzle’s platforms have emerged as the nexus of online classifieds in the MENA region.
The Dubizzle Group’s trajectory is dotted with notable milestones. 2020 was a landmark year, witnessing the company’s acquisition of the OLX Group’s businesses in the Greater MENA region. This was the inflection point, catapulting Dubizzle to the coveted unicorn club with a valuation of $1 billion. Fast forward to 2022, the company managed to secure a whopping $200 million in a Series E funding round, with Affinity Partners from the US at the helm.
It’s noteworthy to mention Lamudi’s legacy. Since its inception in 2013, Lamudi rapidly scaled the ranks, focusing on frontier markets and establishing itself as the top platform in nations like Indonesia and the Philippines.
