Carousell Carousell is a Singapore-based consumer-to-consumer marketplace application for iOS and Android. Q: My co-founders and I have had the same obsession, that is how to use technology to solve problems for people, inspiring everyone to sell stuff online. ( Log Out /  K: Where do you see the future of your platform going in terms of its value for advertisers? Quek Siu Rui (Q): As a company, we started with the mission to inspire people to start selling. Post was not sent - check your email addresses!

OLX is also very much into the property classifieds space. They are equally distributed. When it comes to acquiring OLX Philippines, we are really looking forward to learning and combining forces to supercharge our growth in the Philippines. We have two types of customers, external brands, which have included Go-Jek and DBS, but also our current users can advertise their listings.

We definitely see a long-term future with Naspers, a global tech investor with deep operational experience within the classifieds business vertical. Surfacing relevant content also becomes very important. Announced Date Jan 5, 2017 Acquisition Type Acquisition This deal is strategic for us where we get to combine our tech expertise, community love and rapid growth with OLX Philippines’ strength in the local market to become the best-classified service provider. In Singapore, Carousell has a diverse range of products in 29 categories, including cars, lifestyle gadgets, and fashion accessories.

We see ourselves as natural consolidators for three reasons: We’ve never discussed anything about OLX Indonesia specifically. We have already partnered with DBS’s mobile wallet Paylah. OLX Philippines has been around for almost 13 years and has acquired much local knowledge.

All authentic Some notable examples include Rakuten, Golden Gate Ventures, and 500 Startups. Today, when users take a picture of the product to list on our platform, the tech is able to suggest a title, category, and even price for the user. “According to Facebook, there are 450 million existing buying and selling groups, approximately a quarter of users utilise Facebook to trade items,” writes HL Tan, an equity analyst specialising in technology, media, and telecom on intelligence platform Smartkarma. It’s not optimally adjusted to the needs and expectations of Southeast Asia’s mobile-first shoppers.

In the Philippines, with OLX’s expertise, we already have a sizeable share of cars. Could you share some numbers about the proportion of sales among the different categories?

K: Carousell has expanded to bigger ticket sales items like cars, real estate, and finance products. Duriana is Carousell’s third acquisition in less than six months, and demonstrates its determination to become the world’s number one mobile classifieds marketplace.

She argues that Marketplace provides a formal platform for what’s already happening on Facebook at a large scale, and that Facebook’s algorithms and insights generated from its billions of users give it an edge. Investing in technology to build mobile classifieds product is what we have been doing for 6 to 7 years and now we are supercharging that with our community features, AI, and integrated payments.

Change ), You are commenting using your Google account. Q: Yes, those are official numbers. This article is written by Robin Moh (edited by Nadine Freischlad); and was first seen on KRAsia. We have a balanced portfolio. On finance products, it is really a value-added service to make the process of buying a more seamless. Carousell is both a discovery and search platform, that’s valuable to marketers.

Co. Regn. It has also built a sizeable business in the cars and real estate classified space vertical. Carousell, is now valued at about $500 million, according to a person familiar with the matter.

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