Singapore, 15 September 2021 – Carousell Group, the leading classifieds group in Greater Southeast Asia, today announced that it has secured an investment of US$100 million to accelerate its leadership in the region, and to reimagine the classifieds experience with a focus on convenience and trust, to make secondhand the first choice.
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Online marketplace Carousell is offering 1,000 packages to heartland retailers and service merchants to take their businesses online. Eligible merchants will receive one-time funding support of 90 per cent from Enterprise Singapore (ESG), under its enhanced Enterprise Development Grant, when they sign up for the CarouBiz Booster Package. Each package is valued at $720 before
There’s plenty to debate here, but I’ll get straight to my point. In my opinion, the nature of advertising explains why the US$850 million classifieds player Carousell has been busy snapping up peers across Southeast Asia.
Back in 2019, the NYLON team tried Carousell out for the first time, and we had a fuss-free experience on the application. From posting pictures, contacting buyers and arranging payment and delivery, everything was a breeze. For our move, we decided to turn to Carousell again, but with a new feature — CarouBiz.
Carousell has raised a total of US$262.8 million in funding over 12 rounds with their latest funding raised on 15 September 2020. On 15 September, Carousell announced that it had raised US$80 million from South Korean internet giant Naver.
Traditional, affluent Asian boomers have typically turned away from secondhand goods. It’s a cultural taboo: used items carried bad spirits or the energy of its previous owner. And a social stigma was attached that anything pre-owned was for the impecunious. Fast forward to today, secondhand goods ironically are now perceived as tasteful vintage items as
SINGAPORE — Online classifieds business Carousell is on its way to becoming one of Southeast Asia’s next unicorns — start-ups with a valuation over $1 billion — but co-founder and CEO Quek Siu Rui told CNBC the company is focused on becoming profitable over the next three-to-four years.
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