Singapore-based online advertising platform Carousell has marked its seventh anniversary with the launch of a new visual identity, together with milestones including having reached its 250 millionth listing and fourfold revenue growth last year.
“Our mission has not changed since day one,” said co-founder and CEO Quek Siu Rui. “We want to inspire every person in the world to start selling. Seven years ago, we saw that there was no easy way to sell stuff online and existing platforms were tedious and uninspiring to use. Hence, we launched a mobile app that made selling as easy as taking a photo, buying as simple as chatting, and we made it social. It really set the standard for what mobile classifieds should be. Now, we’ve grown our presence to six markets, expanded from general classifieds to properties and automobiles and recorded over 250 million listings.”
Carousell began in Singapore and now has a presence across Southeast Asia, Taiwan, and HongKong. IT has been backed by Japan’s Rakuten Ventures, Sequoia India, 500 Startups, Golden Gate Ventures, DBS, EDBI, and Naspers.
Quek said the company’s success proves Carousell is serving a real need and is more relevant than ever in today’s marketplace, where consumption has grown rapidly and sustainability has become a huge focus.
“In Southeast Asia, there’s a population of over 640 million people, where two-thirds are still just coming online and experiencing the magic of the Internet. The refreshed visual identity showcases Carousell’s uniqueness where transactions go way beyond dollars and cents; where friendships are forged, stories are shared and interests get discovered.”
Carousell also announced a fourfold revenue growth last year. Prior to implementing monetization streams in mid-2017, Carousell has been focused on building the platform, enhancing product features, and improving the user experience as well as scaling across the region.
