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Tag: Carousell

Retail Asia05/12/2022
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E-Tailing

E-commerce giant Carousell lays off 110 staff

3min0
Carousell, a Singaporean consumer-to-consumer (C2C) service platform operating across Southeast Asia, is letting go of about 110 employees, or 10% of its total headcount, to reduce costs amid a challenging market condition for the tech industry.  The announcement came from the company’s blog on Thursday, posted by co-founder and CEO of Carousell Siu Rui Quek, saying, “I […]
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Retail Asia10/05/2022
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E-Tailing

Carousell acquires Singapore fashion resale brand Refash

2min0
ONLINE marketplace Carousell has inked a deal to buy Refash, a Singapore e-commerce platform and store operator for second-hand clothes, the companies announced on Monday (May 9). The deal value is undisclosed. Launched in 2015, Refash is focused on “thrifting”, or facilitating sales and purchases of second-hand clothes. The company said that it has processed […]
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Retail Asia18/10/2021
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E-Tailing

Carousell snaps up sneaker marketplace Ox Street

3min0
Online marketplace Carousell has acquired Ox Street, a Singapore-based marketplace for authenticated sneakers and streetwear, the company announced on Monday. It did not disclose the deal value. Founded in 2019, Ox Street is focused on making the second-hand sneaker purchase experience more seamless for Southeast Asian youth by inspecting and authenticating the sneakers before they […]
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Retail Asia16/09/2021
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E-Tailing

Carousell Group raises US$100 million for SEA rollout

6min0
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. This round of funding, led by STIC Investments, […]
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Retail Asia03/08/2021
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E-Tailing

Carousell names new Hong Kong MD

5min0
Carousell Hong Kong has appointed Hong Kong digital industry veteran Kevin Huang (pictured) as managing director. Huang, who was last CEO of Birdie for about two years, will now oversee the development of overall business strategy, managing the daily operations, marketing, branding and community engagement for Carousell Hong Kong and will report to Bryan Teo, chief […]
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Retail Asia17/09/2020
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General

Naver leads US$80m financing round in Carousell

2min0
South Korean online platform Naver has invested in Singaporean classified-ad service Carousell. The US$80 million investment was made by a consortium led by the firm that includes other Korean investment businesses Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities. The completed transaction will elevate Carousell’s value above $900 million and reflects the increased […]
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Retail Asia20/04/2020
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E-Tailing

Carousell supports Small Businesses, hawkers during Covid-19 crisis

3min0
Classified-ad service Carousell is offering up to SG$2 million (US$1.3 million) in free advertising for nonprofits serving communities impacted by the coronavirus outbreak. Organizations in Singapore, Malaysia, Hong Kong, and the Philippines engaged in initiatives to support those affected by the pandemic will be eligible for the program. “This initiative will give non-profit organizations more […]
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Retail Asia27/05/2019
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E-Tailing

Carousell Strengthens Executive Leadership Team With Appointment of CCO

4min0
 Carousell, one of the world’s largest and fastest growing classifieds, today announced the appointment of Lewis Ng as Chief Commercial Officer. Lewis will be responsible for all commercial relationships, including high-value verticals, advertising sales and go-to-market partnerships. Lewis will also oversee the transformation of Carousell into a premium publisher by bolstering value-added services and premium […]
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Retail Asia30/04/2019
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Startups

Carousell raises US$56 million from Naspers

1min0
Singaporean m-commerce platform Carousell has raised US$56 million from Naspers, the parent company of the Philippines’ online marketplace OLX. As part of the deal, Carousell will also acquire OLX Philippines, with the transaction due to be completed by the second half of this year. OLX Group will own a 10 per cent stake in Carousell, […]
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Retail Asia09/01/2019
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E-Tailing

Carousell Expands Executive Team to Strengthen Operations and Leadership

5min0
Carousell, one of the world’s largest and fastest growing classifieds, announced the appointment of industry veteran Su Lin Tan as Vice President of Operations, while Colin Bryar has taken on an advisory role. The new additions reflect the company’s steadfast commitment to solidify its market-leading position in the classifieds industry and to continuously improve user experience […]
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Retail Asia10/08/2018
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E-Tailing

Carousell seals partnership with Xend, elevates the PH buying and selling experience

4min0
In a strategic bid to accelerate Philippine social commerce growth in a thriving ecosystem, Carousell, one of the world’s largest and fastest growing classifieds marketplaces, has recently launched its major team-up with Xend, the country’s top e-commerce logistics firm. Jamie Lee, Carousell’s Senior Manager for Growth Markets pointed out that the partnership deal allows the […]
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Retail Asia15/05/2018
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Startups

Carousell raises 85$ Million in funding

2min0
Singapore classifieds marketplace Carousell has raised US$85 million in series-C funding. The round was co-led by Rakuten Ventures and EDBI, with participation from existing investors 500 Startups, Golden Gate Ventures and Sequoia India, as well as new investor DBS. A pioneer of mobile classifieds in 2012, Carousell will use the capital injection to accelerate its […]
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Retail Asia26/01/2017
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E-Tailing

Startup pushes mobile, social selling concept in Southeast Asia

9min
Singapore-based mobile classifieds marketplace Carousell recently announced that it has acquired Duriana, a Malaysian-based mobile-first, fashion and lifestyle marketplace in Southeast Asia. It was the company’s third acquisition in less than six months, which is expected to boost its ambition to become a leading global mobile classifieds marketplace. Basically, Carousell offers a mobile marketplace for […]
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Retail Asia06/01/2017
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E-Tailing

Carousell snaps up Malaysian mobile ad startup

3min0
eCommerce company Carousell has bought Duriana, the Malaysian mobile classifieds startup, to become the top mobile classifieds player in the market. The deal adds significant critical mass to Carousell in Philippines, where Duriana has built a credible presence, and cements Carousell’s position as the largest and fastest growing mobile classifieds marketplace in Asia-Pacific. Duriana is […]
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Retail Asia05/09/2016
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E-Tailing

Report predicts $25b in eCommerce revenues

5min0
Southeast Asia eCommerce revenues are projected to exceed US$25 billion by 2020, according to new research by growth partnership company Frost & Sullivan. Despite acquisitions, market exits and many online retailers struggling to achieve profitability, the market earned $11 billion last year, says the report, from its Telecommunications and Digital Services program, Analysis of the […]
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Retail Asia09/08/2016
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E-TailingFashion

Carousell raises $35m for expansion

2min0
Singapore-based online marketplace Carousell has raised US$35 million in a funding round led by Rakuten Ventures. Other investors in the Series B funding round included Golden Gate Ventures, Sequoia India and 500 Startups. Founded in 2012, the Carousell app lets people buy and sell a variety of items including beauty products, fashion, lifestyle gadgets, furniture and […]
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Retail Asia03/03/2016
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E-Tailing

Rakuten quits Thailand

2min0
Japanese eCommerce giant Rakuten is negotiating to sell its stake in Thailand’s largest eCommerce company Tarad.com to an undisclosed Thai company. Rakuten Tarad.com founder and MD Pawoot Pongvitayapanu has told the Bangkok Post the deal is expected to be sealed within a few days. Rakuten has a 67 per cent stake in Tarad.com since acquiring […]
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