On August 9, 2018, ODX Pte. Ltd (ODX), announced its partnership with YouDeal, the world’s largest peer-to-peer services marketplace. ODX, which is a subsidiary of Xurpas, the largest consumer technology company in the Philippines, aims to solve what is perhaps the most basic problem for consumers in emerging economies: internet access.
ODX’s blockchain-based data marketplace, Open Data Exchange, is backed by heavy hitters in the blockchain and technology space, including Andromeda, BlockTower Capital, DNA Fund, Wavemaker Genesis, Hexa Labs, Pantera Capital and Strong Ventures. Through its data marketplace, ODX unites internet service providers and publishers from across the globe to offer consumers free internet access via sponsored data packages. The partnership between YouDeal and ODX brings YouDeal’s large network of internet users closer to receiving uninterrupted internet access through ODX.
Based out of China, YouDeal has more than 50 million users, seven million sellers and does $60 billion in trading volume. YouDeal currently connects users in China with more than 300 industries including fitness, yoga instructors, masseurs, hairstylists, information technology programmers, user interface designers and financial advisors. It now has its sights set on Southeast Asia, with a free internet strategy powered by ODX.
According to a press release Techworm received from PMBC Group, ODX’s PR firm, Nix Nolledo, ODX Founder and CEO said, “Data free access is a critical advantage in emerging markets. Your app becomes the default choice for most people most of the time.” YouDeal understands that success in emerging markets requires dealing with a fundamental problem – that most users are offline 20 days of the month. Mobile data is expensive in these markets, costing as much as six times what the average user can afford. As a result, consumers are offline over 80 percent of the time. Through this key partnership with ODX, YouDeal solves this issue by providing users free internet access to its services. Customers will be able to access the app 24/7, even when they have no mobile data plan or mobile airtime credits.
At the helm of the company is Nix Nolledo, a seasoned entrepreneur and tech executive who has played a significant role in the success of many companies, including Xurpas, which he started with only $3 and grew into the thriving billion-dollar company that it is today. Xurpas, is the largest publicly listed consumer tech company in the Philippines and employs more than 900 employees across Southeast Asia. With more than 17 years in operation, Xurpas has an established network of publishers and Telcos, which provides ODX with the perfect platform to achieve its lofty goals.
Last month, ODX raised more than $60 million in a private token sale and is well on its way to achieving its $100 million goal.