revenue growth
ONLINE marketplace Carousell is looking to grow its top line in two of its overseas markets, the Philippines and Hong Kong. This will complement the seven-year-old startup's increased efforts to monetise its platform in Singapore over the past year.
However, Carousell - which also operates in Malaysia, Indonesia, Taiwan and Australia - does not have a precise timeline to hit profitability for now, its co-founder and CEO Quek Siu Rui told The Business Times.
The efforts to boost revenue come as it announced a US$56 million deal on Wednesday, with classifieds giant OLX Group taking an approximate 10 per cent stake in Carousell. This values Carousell at over US$550 million.
www.businesstimes.com.sg/garage/...nding-from-cool-japan-fund
ONLINE marketplace Carousell is looking to grow its top line in two of its overseas markets, the Philippines and Hong Kong. This will complement the seven-year-old startup's increased efforts to monetise its platform in Singapore over the past year.
However, Carousell - which also operates in Malaysia, Indonesia, Taiwan and Australia - does not have a precise timeline to hit profitability for now, its co-founder and CEO Quek Siu Rui told The Business Times.
The efforts to boost revenue come as it announced a US$56 million deal on Wednesday, with classifieds giant OLX Group taking an approximate 10 per cent stake in Carousell. This values Carousell at over US$550 million.
www.businesstimes.com.sg/garage/...nding-from-cool-japan-fund