Astra's Acquisition of OLX Does Not Include Automotive and Property Lines

PT Astra Digital Mobil (ADMO) revealed that it would still maintain the OLX Indonesia name as a post-acquisition digital classifieds advertising platform brand. However, they are open to the possibility rebranding OLX Indonesia in the future which will follow market and business dynamics.

"Strengthening Astra's digital ecosystem and providing complete solutions for customers, as well as maintaining the established OLX brand are important factors in this acquisition strategy. Currently, ADMO will leverage brand equity and top-of-mind OLX Indonesia, which has a broad customer base to support our growth strategy," said President Director of Astra Digital Mobil Naga Sujady in a written statement to DailySocial.id.

His statement at the same time wanted to emphasize that Astra's corporate actions did not involve PT Tokobagus's affiliation with OLX Autos as written in news DailySocial.id previously.

Please note, OLX Indonesia previously overshadowed the classifieds platform (OLX Classifieds) and the platform for buying and selling used cars (OLX Autos). However, OLX Autos is under a separate entity, namely PT Mobil Laku Indonesia (MLI). As well OLX Property business unit whose ownership has been transferred by OLX Indonesia to Lamudi in 2022. A Lamudi representative has confirmed that OLX Properti is still being managed by the platform real estate The.

Meanwhile, PT Astra International Tbk (IDX: ASII) is official acquired 100% share ownership of PT Tokobagus (OLX Classifieds) through its subsidiaries, namely PT Astra Digital Mobil (ADMO) of 99,98% and PT Astra Digital Internasional (ADI) of 0.02% at the end of July 2023.

Naga did not elaborate further on the plan to develop the OLX classifieds platform and its synergy with the Astra Group. He ensured that until now OLX would remain a separate entity under PT Astra Digital Mobil. Meanwhile, OLX Classifieds made its debut with a new identity after the acquisition at the GIIAS 2023 auto show.

"The organizational structure is still one of the topics we discuss in this transition process. We make sure that our services to customers will continue as normal," he added.

OLX Autos did not participate in this acquisition transaction, possibly because the Astra Group already has its own used car buying and selling platform, namely mobby. The platform connects showroom in the Astra Group to used car buyers. Mobbi is also fully integrated into the entire Astra ecosystem, from Toyota, Daihatsu, IBID, Auto TRUST, ACC group, Toyota Astra Financial Services, Astra Buana Insurance, to AstraPay.

OLX is widely known as a popular classifieds platform in Indonesia. Based on Similarweb data as of July 2023, total OLX.co.id visits have reached 12 million per month. The digital classified advertising market in Indonesia is still large in line with the increase in internet penetration which has penetrated 78% or the equivalent of 215 million people based on data from the Association of Indonesian Internet Service Providers (APJII).