Carousell

Carousell is a Singapore-based online classifieds marketplace founded in 2012 by Quek Siu Rui, Marcus Tan, and Lucas Ngoo. Originally launched as a mobile-first platform, it allows users to buy and sell a wide variety of items including electronics, fashion, furniture, vehicles, and property. The platform has expanded across Southeast Asia, with localized operations in Singapore, Malaysia, Indonesia, the Philippines, Taiwan, and Hong Kong. Carousell has raised significant venture capital funding, totaling over $400 million from investors such as Sequoia Capital, Rakuten, and EDBI. The company has also made strategic acquisitions, including the classifieds businesses of 701Search and the acquisition of Vietnamese marketplace Cho Tot. Carousell emphasizes trust and safety through features like buyer and seller ratings, in-app chat, and a Carousell Protection program for secure transactions. In 2021, Carousell launched its own payment and logistics services to streamline the selling process. The platform handles millions of listings daily and competes with regional players like Mudah.my, OLX, and Facebook Marketplace. Carousell's business model relies on advertising revenue, promoted listings, and transaction fees. The company has been recognized as one of the most innovative companies in Southeast Asia and continues to grow its user base beyond 30 million monthly active users. Despite its success, Carousell faces challenges such as fraud prevention and competition from established global platforms. The domain carousell.com, registered in 1998, predates the company but was acquired later. Carousell's long-term vision is to become the go-to marketplace for pre-owned goods in the region, promoting a circular economy.