VEON Unit Beeline Kazakhstan Acquires OLX Kazakhstan Online Marketplace Operations For $81M
Benzinga Newsdesk 17 hours ago
M&ANews
OLX KZ is a scaled platform for goods, services, real estate and automotive listings, reaching more than 52% of Kazakhstan’s active internet population with approximately 9 million monthly active users. The acquisition
OLX KZ is a scaled platform for goods, services, real estate and automotive listings, reaching more than 52% of Kazakhstan’s active internet population with approximately 9 million monthly active users. The acquisition adds a marketplace through which people buy, sell and earn, and businesses reach customers. It reported annual revenue of just over USD 28 million in 2026[1].
The acquisition advances VEON’s digital operator strategy of integrating category-leading digital services into its portfolio and scaling them through its connectivity base. It adds to VEON’s existing portfolio across financial services, entertainment, healthcare, education and enterprise solutions, and follows recent additions including ride-hailing leader Uklon and health marketplace Tabletki.ua in Ukraine, and TPL Insurance in Pakistan. In 2Q26, VEON served 227.7 million digital customers, with digital revenue growing 53.6% year-on-year and now accounting for over a quarter of Group revenue.
"This acquisition marks another milestone in the digital operator strategy that is reshaping VEON," said Kaan Terzioglu, Chief Executive Officer of VEON. "Across our markets, we are building digital ecosystems that give millions of people meaningful access to digital financial services, healthcare, education and entertainment, and OLX KZ brings Kazakhstan's leading classifieds platform into that portfolio."
"We welcome the OLX KZ team into Beeline Kazakhstan as we expand our digital ecosystem," said Jabbor Kayumov, CEO of Beeline Kazakhstan. "Combining our connectivity leadership with OLX KZ's reach will deliver new digital experiences to millions of Kazakhs and strengthen our platform for long-term growth."
"Joining Beeline Kazakhstan's digital ecosystem opens a new chapter for OLX KZ and our market-leading classifieds platform," said Yelena Kim, General Manager of OLX KZ. "We look forward to scaling our operations and combining our marketplace with Beeline Kazakhstan's connectivity and digital services to deliver greater value to buyers and sellers across the country."
Beeline Kazakhstan announced the agreement to acquire OLX KZ in October 2025. Following the completion of the acquisition, OLX Group will provide transitional IT services under a handover arrangement to ensure uninterrupted service for OLX KZ’s users.