In January this year, OLX acquired recruitment company Aasaanjobs for an undisclosed sum in order to boost its online job search division
Global online marketplace OLX said that it is planning to invest in deep technologies like artificial intelligence (AI) and machine learning (ML) to augment the customer experience.
The company has also elevated Sushil Kumar as the General Manager. Kumar was the former Chief Revenue and Strategy Officer at India business. He will now be responsible for digital innovation, partnerships, portfolio expansion, customer centricity and culture, OLX said in a statement.
Speaking about Kumar’s elevation, Tim Hilpert, CEO, OLX Markets, said, “Our growing focus on India as a strategic growth market has brought some very exciting changes at OLX. Sushil’s strong vision to lead OLX Group to the path of success will be instrumental for the growth of the organisation in the coming few years.”
To improve customer experience
Commenting on the investment plans, Kumar said, “In the coming two years, we plan to invest in leveraging emerging technologies like AI, ML and deep learning to enable a more seamless experience to our customers which is going to be significantly important in the success of our business.”
OLX claimed that it has around 50 million users in India. In January this year, the company acquired recruitment company Aasaanjobs for an undisclosed sum in order to boost its online job search division.
According to media reports, the revenue of OLX India reportedly increased to Rs. 179 crores in the financial year 2017-18 compared to Rs. 92 crores in the previous fiscal. The company’s net profit was nearly doubled to Rs. 15.6 crore in 2017-18 fiscal year from Rs. 8 crores in 2016-17.