Carousell co-founder and CEO Quek Siu Rui. Photo credit: Tech in Asia.
The news (via TechCrunch):
- Carousell, a leading ecommerce marketplace in Southeast Asia, has raised a series C round worth between US$70 million to US$80 million, anonymous sources told TechCrunch.
- Carousell’s gross merchandise volume is at US$5 billion in total. Rival Shopee is on track to do US$3 billion.
- The startup is on track to do double-digit US dollars in revenue this year. Part of that will include a subscription service for a Pro app targeted at sellers, real estate agents, and recruiters.
Why it matters:
- Carousell is a leader in the region’s second-hand goods market. The funding fuels its ambition of becoming a powerhouse in online classifieds. It is expanding into jobs, property, services, and cars.
- The funding allows it to stay competitive against well-funded ecommerce rivals. Shopee’s parent company Sea raised close to a billion US dollars in its IPO. Lazada is owned by Alibaba.
This post Brief: Carousell raises $70m to $80m in funding appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/carousell-closes-70m-80m-funding
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