Miguel Cordon · · 1 min readAustralian firm acquires Lamudi in Indonesia, Philippines
Photo credit: Lamudi
Digital Classifieds Group (DCG), an operator of online classifieds marketplaces in emerging markets, has announced its acquisition of Lamudi’s businesses in Indonesia and the Philippines from Dubai’s Dubizzle Group.
With this purchase, DCG said it is now the second-biggest property portal operator in Asia, operating in markets like Indonesia, Bangladesh, Cambodia, Papua New Guinea, and the Philippines. The combined group will have more than 900 staff worldwide.
Established in 2013, Lamudi is an online property platform present in Indonesia and the Philippines. It was acquired by Dubizzle Group in 2020.
Mathew Care, CEO of DCG Group, said the purchase was a step towards achieving the company’s goal of building a leading classifieds group in Southeast Asia, where property portals reach over 600 million people.
The deal also builds upon DCG’s previous efforts to expand in the region. Its latest move is the acquisition of Bangladesh-based Bproperty in January. However, Lamudi also recently laid off staff in Indonesia to “maximize growth and improve business efficiency.”
Editing by Putra Muskita and Eileen C. Ang
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