Singapore's Online Marketplace Company Carousell Aims US Listing Via SPAC Merger: Bloomberg

  • Singapore’s online classifieds marketplace operator Carousell Pte is eyeing a U.S. listing via special purpose acquisition company (SPAC) merger at a valuation of up to $1.5 billion, Bloomberg reports.
  • Other Southeast Asian companies harboring similar aspirations include Malaysia’s online used-car platform Carsome Sdn, Indonesia’s, Singapore’s PropertyGuru Pte, and Grab Holdings Inc.
  • People with knowledge of the matter told Bloomberg that a listing via the SPAC route could materialize by 2021.
  • Carousell runs several online marketplaces like Carousell, in Vietnam, Mudah in Malaysia, and OneKyat in Myanmar.
  • Telenor Group, Rakuten Ventures, Naver, and Sequoia Capital India feature among its backers.
  • The marketplace has expanded to eight markets across Southeast Asia, Taiwan, and Hong Kong, allowing users to buy and sell various products, including cars, lifestyle, gadgets, fashion accessories, and even cleaning services.

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