When Lukas Draginas, general manager of Otomoto.pl, raised prices on the Polish automotive classified platform, the site’s customers were livid. “We had trailers blocking the roads around our office, dealers were burning our flags and massively leaving the platform,” Draginas said. But Otomoto held firm, and the result is a classifieds success story in Poland. Draginas will be telling that story, and others, during his talk at AutosPlus2017, the AIM Group’s classifieds conference scheduled for October 9 and 10 in London.
It’s not a nice thing to say of one of the big players in the classifieds and marketplaces industry, but EBay Inc.’s classifieds and marketplace are simply not going anywhere fast. Low, single-digit revenue growth rates simply can’t be called exciting. Not in the “new” world of the internet.
Today, Schibsted reported a record-high gross operating profit for Q2 of FY2017, as part of a sunny report from Oslo, where most people are already on holiday. EBITDA was higher than expected and at NOK 4.3 billion ($533 million U.S.), Q2 revenue was slightly higher than analysts had expected.
Naspers CEO Bob van Dijk told analysts last week there is no plan to hive off the golden goose Tencent; the plan is rather to narrow the gap in the contributions of Tencent and the e-commerce business to the bottom line.
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.
Mercari, a c-to-c used-goods marketplace based in Japan, announced some good and some bad news today. Firstly, the bad news: The site apologized for a leak of personal information of registered customers of the site. The good news: Facebook’s ex-linchpin John Lagerling joined Mercari as chief business officer.
The Berlin-based mobile marketplace for used and new stuff that features videos instead of photos, announced it has raised $4.9 million in a seed round.
In many ways, Markafoni.com was the pioneer of e-commerce in Turkey. It was the first website to introduce the private-shopping concept to Turkey, the first to have a courier company with a branch office on the company premises and the e-commerce site in Turkey to open offline stores. No-one expected Markafoni to close down. So, when the news broke, it was reported in every national newspaper and on many news websites.
OfferUp has a new board member: Darrell Cavens, the CEO of Zulily, a Seattle-based e-commerce site for moms and kids. Cavens will be OfferUp’s first, independent board member.
Forbes magazine takes an extensive look at Craigslist and its two major competitors, OfferUp and LetGo, in an impressive 5,000-word series from reporter Ryan Mac. The magazine "conservatively" values Craigslist at $3 ...