• UAE-based Dubizzle Group has announced the sale of its Lamudi property portals in the Philippines and Indonesia to Australia-based Digital Classifieds Group in a divestiture deal. This comes three years after Dubizzle acquired Lamudi.
• The disinvestment of its Southeast Asian assets comes as part of the company’s drive to solidify its presence in the GCC and Middle East markets. 
• Laumdi was founded in 2013 and currently operates in Mexico, the Philippines and Indonesia. Back in July, Lamudi laid off staff in Indonesia to maximise growth prospects and improve the efficiency of its operations.
• In 2020, Dubizzle acquired OLX Group’s Mena businesses, reaching a $1 billion valuation and unicorn status. Two years later, it raised a $200 million Series E funding round led by US-based Affinity Partners. 

Press release:

Dubizzle Group, the Middle East technology unicorn and #1 regional classifieds platform has today announced the sale of its Lamudi property portals in the Philippines and Indonesia to Australia-based Digital Classifieds Group.

The divestment of its Southeast Asian assets is aligned with Dubizzle Group's 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, Co-Founder and CEO of Dubizzle Group commented: “Having built a powerful and attractive platform in South-East Asia, we believe that this strategic divestment will allow us to concentrate our efforts on the immense potential of the GCC and MENA region, where we see compelling opportunities for the sustained and profitable growth of our businesses. As such, we will be focusing both our resources and expertise on these core markets, where we aim to continue our strong growth trajectory by offering highly innovative and customer-centric technology solutions to our partners and end-users."

Dubizzle Group's flagship ventures, including Dubizzle and Bayut in the UAE and Egypt, as well as Zameen and OLX in Pakistan, are all market leaders in their geographies. Dubizzle Group also has a strong presence in several other MENA countries. With 123 million monthly visits across the platform and at least 27 million monthly users, Dubizzle Group’s portals are go-to destinations for online classifieds. 

In 2020, the Company acquired OLX Group’s Greater MENA businesses, reaching a $1 billion valuation and unicorn status, and in 2022 raised $200 million in a Series E funding round led by US-based Affinity Partners. 

Lamudi was founded in 2013, initially focusing on the frontier markets property classifieds space and grew to become the #1 platform in several countries including Indonesia and the Philippines.