The Southeast Asian e-commerce and classifieds operator Carousell saw revenue rise by 40.5% year-on-year in 2023 according to newly released filings.
Net losses at the Singapore-based company shrank by 39.7% to $38 million as its recommerce division saw its business double in 2023.
Recommence accounted for 46% of total revenue in 2023 with Carousell CFO JJ Ang commenting in a LinkedIn post that the company has been working hard to make the brand "more trusted and convenient to give items a second life".
As well as its e-commerce business Carousell operates general classifieds sites in eight countries in the region including the popular Cho Tot platform in Vietnam and Mudah in Malaysia.
In 2022 Carousell was reportedly engaged in talks to merge with regional real estate portal player 99 Group to form a joint challenge to the region's top real estate player, PropertyGuru. The talks ultimately came to nothing after Carousell's plans to go public via a SPAC fell through.
Sweden's leading property portal, Hemnet, has reported impressive financial results for the first quarter of 2025, showcasing the robust growth...
Read More
This week's Product Roundup is flush with some of the biggest names in global real estate. We'll start in Europe,...
Read More
U.S.-based iBuying firm Offerpad has received a notice from the New York Stock Exchange regarding non-compliance with continued listing standards....
Read More
Zillow has begun rolling out a major update to its search experience, moving away from a rule it once implemented...
Read More
