Jan. 10, 2017
Photo (Caroussell) - The Carousell app
Singapore's Carousell has bolsters its position in Malaysia's rapidly expanding eCommerce sector with the acquisition of a Malaysia-based mobile startup.
Quek Siu Rui, co-founder and chief executive officer of Carousell, said the acquisition of mobile classifieds player Duriana has consolidated its "position as largest mobile classifieds marketplace in APAC."
The move adds more than 600,000 users, many of them in the Philippines, said Quek, adding that "this is Carousell's third acquisition in less than six months, and demonstrates our determination to become the world's number one mobile classifieds marketplace."
He said that since Carousell's launch in Malaysia in December 2014 and in Philippines in October 2016, the classifieds marketplace has been growing rapidly with almost 2 million items sold in Malaysia as of Q4 2016, almost doubling within a quarter. In the Philippines, Carousell has also enjoyed strong growth with more than 80 percent QoQ (quarter on quarter) growth in transactions from Q3 2016.
"A classifieds marketplace offers its users the most value when there's a large and vibrant community of buyers and sellers on the platform," said Quek. "We saw that Duriana users had similar demographics and interests in buying and selling fashion items, gadgets & electronics as well as home furnishing. By bringing Duriana users onto the Carousell platform, we're helping more people buy and sell their unwanted items quickly and easily. Our goal is to inspire our global community to fill their lives with more meaningful things instead."
"This acquisition accelerates our international growth, and strengthens our position as the largest mobile classifieds marketplace in Malaysia with more than 5 million listings," he said. "It also builds on our strong growth in Philippines, our fastest market to reach over ½ million listings, and positions Carousell as the leader in the Philippines mobile classifieds industry just four months after our official launch in the market."
Photo - Co-founders of Carousell
"It's been an exciting three years with Duriana, and we're proud to have brought the company to this stage. After this exit, we're looking forward to pursuing a new adventure," commented Saeed Gouda, co-founder and chief executive officer of Duriana.
Since its launch in August 2012, Carousell has expanded to 19 major cities in 7 countries, including recent launches in Hong Kong, Philippines and Australia. The platform has more than 57 million listings and more than 23 million items have been sold as of Q4 2016.
The first edition of this article appeared on Computerworld Malaysia on 10 January 2017.