Singapore’s Carousell Acquires Online Car Classified Platform Caarly, Hires New CFO And GM

Carousell acquires Carrly

Carousell, a mobile commerce platform for the operations of classifieds marketplace, after the recent acquisition of Malaysia-based personal safety app “Watch Over Me”, has announced again yet another acquisition. This time, it’s a Singapore-based used car marketplace known as Caarly.

Founded in 2014, Caarly’s operations are similar to Carousell wherein it is a mobile application which facilitates online trading. But the company, different from Carousell, instead focuses on cars. That is the application enables car dealers and individual sellers to use a smartphone app to take photos and list their cars on Caarly’s online marketplace. The enterprise currently boasts a partnership with more than 200 car dealers in the city-state.

The reason behind this acquisition is because the Singapore-based peer-to-peer marketplace noticed that there was an increase in users who were looking to sell and buy cars on the site.

Siu Rui Quek, the co-founder and CEO of Carousell, further elaborates the motive underpinning the acquisition, saying that “Carousell has grown over the last 4.5 years, and so have our users. Over 50 per cent of them in Singapore are now over 25 years old, and have significantly more purchasing power. We’ve seen how their evolving needs have resulted in more listings and greater demand in higher value verticals like cars.”

The terms of the deal are undisclosed. But the entire Caarly team will join Carousell, being positioned in the car classified vertical. Both applications will proceed as normal, as existing Caarly users can continue to use the Caarly platform to list their inventory with a simple 1-tap post to cross post to the car category on Carousell.

Acquiring Carrly will help Carousell improve its used car classifieds as well as bring car dealerships into its platform. The startup has plans to start releasing their used car listing from dealers in Singapore and eventually into its other markets. To date, the platform is currently available in 14 cities.

Additionally, Carousell has also made an announcement on Thursday that it has appointed former PropertyGuru managing director, Winnie Khoo as the general manager for its Singapore and Malaysia operations as well Rakesh Malani who is the former CFO of the Indian adtech firm Komli Media to join the team.

With this new development, of acquisition and new hires, it seems that the mobile classifieds platform strategy is moving towards implementing a sustainable monetization model.

For more information, please visit https://sg.carousell.com/

By Vivian Foo, Unicorn Media

Singapore Startup Cafebond To Make Australia’s Specialty Coffee More Easily Accessible

Cafebond Singaporean Startup

A great cup of coffee can boost productivity. It is also the stuff in which team culture are made of. Thus, having a great cup of coffee in the office is always a good investment for both employers and employees. However, the purchase of an expensive coffee machine though exciting at first has always ended up with the machine sitting there to collect dust. People just get bored if it is not with the right coffee taste.

A Singapore startup founded by Eugene Chen and Keyis Ng on May 25 intends to change just that. By opening a new web and mobile platform – coffee lovers can shop for Australia’s best coffee beans, freshly roasted with just a click. This startup is known as Cafebond and it targets Singapore growing market for specialty coffee, aiming to be the supplier to this demand by making specialty coffee more accessible.

To date, Cafebond has made accessible the taste of coffee from 14 of Melbourne’s top cafes-cum-roasters, such as Small Batch Roasting Co and Code Black Coffee Roasters. On another list, the startup also include deliveries from World Barista Champion Sasa Sestic’s Roastery and Cafe as well as Ona Coffee in Canberra.

Cafebond.com offers a web and mobile platform that crosses geographical borders as it connects coffee lovers with the best coffee brands in the world. It aims to bring better coffee tasting experience to office workers, so that they can taste and buy unique specialty coffee beans and blends from roaster-owned cafes from London to Melbourne, Singapore to Beijing, in one easy checkout process. But above all, these coffee beans are sold at an affordable price.

“What Cafebond does is bring the shipping cost down to make these beans more affordable,” said co-founder and CEO Keyis Ng, “Because to ship a 250g bag of beans from Australia to Singapore using DHL or TNT will easily cost up to S$30 to S$40 dollars, which is more than the cost of the beans,” Ng shared, explaining that the flat delivery fee regardless of the size of the order, is made possible using a consolidation shipping algorithm.

The startup is invested by Quest Ventures, China’s leading venture capital firm and is incubated with Infocomm Investments, the investment subsidiary of Singapore government’s tech agency IMDA (Info-communications and Media Development Authority).

Cafebond.com is also one of the four startups hand-picked by Microsoft Singapore to be co-located within its Asia Pacific Headquarters and is currently part of DBS Hotspot 2016, the startup support programme by DBS Bank which is one of Asia’s largest bank.

For more information, please visit https://www.cafebond.com/

By Vivian Foo, Unicorn Media