Search - Friday, December 7, 2007
Chinese Classifieds' Edeng Wins Funding From OLX
It is interesting to see that Palo Alto-based Edgeio is closing up shop at the same time that a startup in China, also doing classifieds, is getting funding. Perhaps Edgeio might have changed its model to focus on regional plays.
NYC-based OLX made the investment. OLX is a free local classified's business that was founded in March 2006. Edgeng was founded in Beijing in 2004. Last May, OLX announced a deal where it partnered with Friendster classifieds where the two spit ad revenues.
OLX was co-founded by two tech entrepreneurs, Fabrice Grinda & Alec Oxenford. Between them, they have founded successful web businesses like Zingy.com and DeRemate.com, an online auction site in Latin America. Based in NNYC and Buenos Aires, the OLX website hosts free user-generated classified advertisements for urban areas around the world and provides discussion forums.
View - Edeng site
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