Carousell has acquired Singapore startup Caarly as part of its goal to lead in the classifieds space.
Caarly is a mobile-first productivity tool that makes it easier for used
car dealerships to manage their inventory. Since its launch in
Singapore in 2014, Caarly has become a trusted partner to more than 200
car dealers, which make up a significant proportion of the car
dealerships in Singapore. Existing Caarly partners can
continue to use the Caarly platform to list their inventory and can
cross-post to the cars category on the Carousell marketplace with a
single tap.
“Carousell has grown over
the last 4.5 years, and so have our users. Over 50% of them in
Singapore are now over 25 years old, and have significantly more
purchasing power. We’ve seen how their evolving needs have resulted in
more listings and greater demand in higher value verticals like cars.
This acquisition allows us to tap on Caarly’s relationships with car
dealers to give users the widest selection of cars on a classifieds
marketplace, beginning in Singapore and throughout the Asia Pacific
region (APAC) soon after,” said Siu Rui Quek, Co-founder and CEO of
Carousell.
Winnie Khoo, newly appointed General
Manager for Carousell Singapore and Malaysia, will be leading the charge
to fully integrate the Caarly team into the Carousell platform. She
said, “What began as a simple conversation to include used-car dealers
inventory onto the Carousell marketplace (has) allowed us to realise the
potential to make a bigger impact for our community. With the widest
selection of cars, Carousell will become the go-to for anyone looking to
purchase their next car.”
*An acquisition primarily to hire the talent at the acquired company.
