Southeast Asia's Digital Classifieds Group (DCG) has announced the acquisition of leading Laos-based general classifieds site www.Yula.la, which specialises in real estate, automotive, electronics and general product listings.
The site was founded December 2012 by French national Christophe Eyquem and his Laotian wife Kimthong Luangvilay, and has grown to become a trusted brand for online shoppers in Laos.
DCG acquired a majority stake in Yula.la in March 2017, however; it's founders are to remain minor shareholders of the portal and will continue to contribute their market knowledge and technical expertise to the business.
Mathew Care, CEO and Director of the DCG Group, says the company is thrilled with the acquisition.
“Laos offers an extremely exciting new market for us - with fast growing internet penetration rates, consistently high GDP per capita growth and strategically located alongside Cambodia, another market in which we have risen to become a strong player in the online classifieds sphere,” Care explained.
“We are extremely pleased to have formed a partnership with Christophe and Kimthong moving forward into a new phase of growth for Yula.la. As with all our ventures in all of our markets, we clearly understand the strategic advantage of working closely with local partners.”
The content director of DCG's market leading portal in Cambodia – James Whitehead – will direct Yula.la operations in Laos.