Sushil Kumar will be responsible for digital innovation, portfolio expansion, partnerships and customer centricity and culture at OLX even as the company currently battling for the top spot with domestic player Quikr in India's online classifieds market.
Online classifieds giant OLX today said that it is planning to invest in deep technologies such as AI, machine learning (ML) to enhance customer experience even as it elevated its former Chief Revenue and Strategy Officer Sushil Kumar at India business as the General Manager. The company is currently battling for the top spot with domestic player Quikr in India’s online classifieds market that is expected to be worth $1.2 billion by 2020 as per a Google and KPMG report.
“In the coming two years, we plan to invest in leveraging emerging technologies like AI, ML and deep learning to enable a more seamless experience to our customers which is going to be significantly important in the success of our business,” said Kumar in a statement.
Kumar’s elevation comes amid India being identified as OLX’s key strategic growth market globally, the company said in a statement. However, in around past 18 months, the company has already seen exit of its two former India heads — Amarjit Singh Batra (now Managing Director at Spotify India) and Momtaz Moussa.
“Our growing focus on India as a strategic growth market has brought some very exciting changes at OLX. Sushil’s strong vision to lead OLX Group to the path of success will be instrumental for the growth of the organization in the coming few years,” said Tim Hilpert, CEO, OLX Markets — one of the four global divisions of OLX Group.
Kumar will be responsible for digital innovation, portfolio expansion, partnerships and customer centricity and culture, the company said.
The company claimed to have 50 million users in India. It acquired recruitment marketplace Aasaanjobs in January this year for an undisclosed amount to boost its online job search segment.
OLX India’s revenue for FY18 reportedly surged to Rs 179 crore from Rs 92 crore in FY17 even as net profit almost doubled from Rs 8 crore in FY17 to Rs 15.6 crore in last fiscal year. On the other hand, Quikr’s revenue increased to Rs 173.49 crore last fiscal year, PTI reported.