Session 3: How Sulit Started with just P2,400 Capital

By Jerry | Leapreneur Insights

Nov 18

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[spp-player url =”http://traffic.libsyn.com/leapreneur/00320-20Sulit.com.mp3″]

 

 

A Glimpse of What You Will Learn in this Session:

1.)  How the idea of Sulit.com.ph came to be

2.) What “hacks” the founders used to grow Sulit during the initial months

3.) The founder’s top advice for aspiring entrepreneurs.

4.) The founder’s best advice in getting the best people and closing deals.

5.) How you can retain your employees and let them shine.

Plus many, many, more…

 

TRIVIA: Why was Sulit.com.ph re-branded to olx.ph?  After all, Sulit was already a household name.  Listen to the session to find out why.

 

By the way, my wife, Rio, joined me in this session so you’ll hear her voice during the interview.  🙂

 

 

ABOUT OUR GUEST

Web_Session-3-01Ronald John “RJ” David is the man behind the country’s biggest online buy-and-sell advertising service, Sulit.com.ph (now OLX Philippines).

He was a mechanical engineering graduate, but a huge fan of computer programming. He became an instructor at UP mechanical engineering department for a year and then moved to a biomechanical company as an R&D engineer. However, his burning passion in programming never left. He then quit his job and decided to move to the IT industry.

 

How Sulit Started

On a ride to Tagaytay, RJ and his then girlfriend, now wife – Arianne conceptualized the idea of creating a classified ads site. The initial plan for the site is to simply validate which would be the most popular category (they thought of cars) for the buyers and sellers. In September 2006, they launched their site which offers a free platform for people to post their ads. It was Sulit.com.ph.

Launched in a bedroom, Sulit.com.ph was only P2,400–worth business which eventually grew into a million peso company in just a year.

 

Transition to OLX.ph

In 2009, Naspers, a South African-based company, acquired 51% shares of Sulit.  And in 2014, Sulit finally dropped its local name and became officially part of its then- rival site, OLX. It was a bold decision by the Davids to take on the global brand, OLX despite having Sulit as a household name in the Philippines.  However, RJ still believes in the long-term benefits of carrying the brand equity they share with OLX.

RJ and Arianne being a power couple have changed the game in the classified ads business, taking advantage of their knowledge and skills in web development and design. Who would ever think that their experimental site can turn out to be today’s online giant?

 

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[spp-player url =”http://traffic.libsyn.com/leapreneur/00320-20Sulit.com.mp3″]