OLX Brazil Completes Total Acquisition of Grupo ZAP

November 1, 2020
Share this Post: 

Grupo ZAP, a platform dedicated to the entire process of buying, renting, and selling property, has been officially acquired completely by the joint venture between Adevinta ASA and Prosus NV, OLX Brazil, for approximately $504.9 million.

Now, OLX Brazil will operate under the OLX, ZAP, and Viva Real brands, which will cover all the needs of consumers from users, private advertisers, and professionals throughout the sector. 

Speaking on the completion of this acquisition, Andries Oudshoorn, CEO of OLX Brazil, said:

“OLX Brazil strengthens its position in the Brazilian real estate market. Combining with Grupo ZAP will enhance the end-to-end experience for our users, professional customers and strategic partners. Our customers will benefit from integrating DataZAP's data intelligence together with the existing high volume of data from OLX real estate, which positions ZAP as an important source of information with respect to the Brazilian real estate segment. The acquisition will also drive value creation on other strategic verticals within OLX Brazil.”

Oudshoom will continue to head the OLX Brazil operation while overseeing the OLX and ZAP operations through Rio de Janeiro, São Paulo, and regional branches.

The three entities’ specs currently include:

  • 14 million real estate ads
  • Average of 70 million visits per month
  • Over 40,000 professional users

The acquisition also showcases the overall goal for the Brazillian market, as OLX Brazil works towards digitizing and growing the sector with low-interest rates and financing benefits. 

Brian Requarth, Founder of Viva Real and former Chairman of Grupo ZAP, said: 

“The real estate market is the largest asset class in the world, and is at the beginning of its transformation. The combination of our strengths will bring the Brazilian real estate market into the future. I am sure that OLX Brazil will be able to leverage its strong technology culture and traffic position to accelerate innovation and take ZAP to new heights."

November 1, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 181374380
Slashed Costs and Net Loss Improvement for FangDD in 2022 - But Will it be Enough For Struggling Chinese Portal?

The Chinese real estate marketplace and transaction platform company FangDD has reported on its performance for Q4 of 2022. Notable...

Read More
Zillow And Opendoor
Zillow and Opendoor Further Extend Their Partnership into 3 New Markets

US giant Zillow and Opendoor have expanded their home sales partnership into three new markets. The new markets are Houston,...

Read More
Ke Holdings Decoration
Chinese Leader KE Holdings Sees Net Losses Widen to $203m in 2022 As It Goes "from high-speed to high quality growth"

Leading Chinese real estate brokerage and portal company KE Holdings (aka Beike) has released a report on its performance for...

Read More
Property Finder Boardroom
PropertyFinder hires Frode Nordseth as VP of Product

Dubai-based marketplace Property Finder has hired Frode Nordseth as its new VP of Product. He announced his new role in...

Read More

Editor's Pick