Even with a reasonable amount of overlap accounted for, these are significant numbers, albeit in countries where potential advertising income is generally much lower than it is in the U.S. and Europe.

OLX (a competitor to Craigslist in the United States) and hi5 (a competitor to the likes of Facebook and MySpace on a global level) claim the fresh partnership serves to consolidate both companies’ hold on the Latin American market, while making way for accelerated growth in the rest of the world.

As part of the agreement, hi5 will implement OLX features that include the ability to display ads on a user’s profile page and to see friends’ ads, as well as a feature to tell friends about their own ads via newsfeeds. OLX will also allow users to include videos and pictures in classified listings, comment, post/view listings in over 39 languages and 90 countries, and access the site from mobile devices. The latter two features are clearly meant to appeal to a large international user base.

Oodle, another major player in the online classifieds space, has been scoring similar deals recently with social networking services and portals like Facebook, MySpace and AOL.

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OLX, the Craigslist for the rest of the world, has raised $5 million in funding from from Nexus Capital India. The company raised $13.5 million in Series B funding in April 2008 from General Catalyst Partners, Bessemer Venture Partners, Founders Fund and DN Capital, bringing the total funding raised to $28.5 million. OLX raised $13.5 million in Series B funding in April 2008 from the same investors as above, and raised an undisclosed Series A round of $10 million in September 2006 with the same VCs and various angels participating.

While the free classifieds site has trouble competing with Craigslist in the U.S., OLX has a strong user base internationally. With a presence in more than 87 countries in 39 languages, OLX’s popularity lies mainly in Spain, India, Portugal, Mexico, South America, China, and the Philippines.

Fabrice Grinda, founder and CEO of OLX says the new investment will be used to make new acquisitions, implement site improvements, expand globally, and pursue aggressive marketing initiatives. In 2007 OLX has made an investment in Edeng.cn, a Chinese free classifieds site and acquired Mundoanuncio.com, a Craigslist-like classifieds site targeting the Hispanic market, in 2006. Much of its success in the Philippines can be attributed to its white label partnership with Friendster. Its offices are also spread over the globe with 125 employees (OLX has added almost 35 employees since last year) working in New York, Buenos Aires, Beijing, and Moscow.

While OLX may play second fiddle to Craigslist in the U.S., the site prides itself on being a second-generation free classifieds site, complete with Web 2.0 features such as social network widgets, better search capabilities, interactive maps, and mobile functionality. Craigslist has recently been under scrutiny by Attorney Generals over prostitution and the “Craigslist Murder” that have taken place in conjunction with the site. eBay’s Kijiji is also a competitor in the space, but Kijiji has set its sights on catching up to Craigslist in the U.S., even considering a name change.

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Microsoft Live Expo, their experiment with classified listings that launched in early 2006, will be shut down on July 31, says a notice posted on the site. New listings have already been suspended.

This comes as Craigslist solidifies its position as the top free listings service. Other services like Kijiji (owned by eBay) and Oodle (which recently partnered with Walmart) continue to grow. Recently Kijiji has made waves about their impressive growth rate. And other classified listing startups continue to get funded.

There’s just no room for Microsoft in the classified listings space, it seems. It joins the deadpool.

A screen shot of what it looked like in the good days is below.

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According to co-founder Fabrice Grinda, “OLX is probably the largest classified site no one has ever heard of.” And now it’s also the most funded classified site no one has ever heard of, having secured an additional $13.5M in Series B funding today from General Catalyst, Bessemer Venture Partners, Founders Fund, and DN Capital.

The round brings OLX’s total funding up to $23.5M after raising a previously undisclosed Series A round of $10M in September 2006 with the same VCs and various angels.

Americans are not likely to have heard of OLX because its popularity lies mainly outside of the United States in places like Spain, India, Portugal, Mexico, South America, China, and the Philippines. It has established a presence in a total of 40 countries while supporting 15 languages. Much of its success in the Philippines can be attributed to its white label partnership with Friendster. Its offices are also spread over the globe with 92 employees working out of New York, Buenos Aires, Beijing, and Moscow.

The idea behind OLX, in addition to becoming Craigslist for the rest of the world, is to improve on the technology of first generation classified sites. Grinda prides OLX in its Web 2.0 features which include social network widgets, better search, Ajax-based editors, interactive maps, and mobile versions.

OLX was launched in June 2006 by Grinda with co-founder Alec Oxenford. In addition to taking on Craigslist, OLX faces off against eBay’s Kijiji, which poses the biggest international threat because it has also taken an aggressive global campaign.

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