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Can Letgo slay Classified Ads Overlord Craigslist?

Can Letgo slay Classified Ads Overlord Craigslist?

Is the New York and Barcelona-based Let­go app the only con­tender out there with the pow­er to defeat clas­si­fied ads super­star Craigslist? Well, at present they’ve qui­et­ly grown to 2 mil­lion down­loads since the begin­ning of the year and have just announced rais­ing $100 mil­lion in Series A fund­ing from Naspers Lim­it­ed, a media com­pa­ny from South Africa. They’ve also fund­ed a clas­si­fieds plat­form called OLX which just so hap­pens to be a com­pa­ny that was pre­vi­ous­ly cofound­ed by Let­go founder Alec Oxen­ford. He’s still on the chair at OLX, a com­pa­ny that serves 240 mil­lion users in emerg­ing mar­kets in India, Brazil and Poland. This sol­id expe­ri­ence is what clear­ly moti­vat­ed Naspers to throw down the cash on Let­go. Mar­tin Scheep­bouw­er, CEO of Naspers Clas­si­fieds, in a state­ment about the invest­ment in let­go. “We have seen first­hand Alec’s abil­i­ty to exe­cute on his vision as we worked togeth­er to build OLX into the glob­al force it is today. In let­go, Alec has built a plat­form that is per­fect­ly tai­lored to the Amer­i­can con­sumer, and we’re excit­ed to help his team take it to the next lev­el.” The app, which lets users buy and sell items local­ly is avail­able on both Android and…

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