Financials / Deals

Naspers results: Classifieds about to break even

OLX Group, the classifieds business of Naspers, is close to breaking even. Take LetGo out of the numbers, and OLX Group may even turn its first trading profit in the current financial year (FY2017/18 to end-March 2018). Excluding LetGo, the trading loss of OLX Group dropped to “only” $78 million U.S. in FY2016/17 from $192 million U.S. in FY2015/16, and $286 million the year before that. If this trend stays intact, OLX Group should be breaking even any month now.

India’s Aasaanjobs acquires mHire

Blue-collar recruitment site acquired Noida-based rival mHire in a cash-and-stock deal, reported Hindustan Times’ business paper Mint. The acquisition will help expand’s presence in North India and enable them to pool their respective clients. Aasaanjobs is based in Mumbai.

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