Naspers in talks with Carousell

13 Jun 2018

Carousell is reportedly in talks with Naspers for a potential fund-raising amount, according to an article by TechCrunch. The South African media and e-commerce conglomerate previously invested in OLX, which is also present in Southeast Asia.

CarousellCarousell recently raised $85 million U.S. from investors including Rakuten Ventures and the Development Bank of Singapore (DBS) — which also launched its digital wallet, Caroupay.

Naspers raised 9.8 billion U.S. in March after selling a portion of its Tencent shares. It also sold its Flipkart shares to Walmart (we reported on the deal here).  Some of these funds were used to fund the company’s $89 million U.S. investment in Frontier Car Group (FCG).

According to TechCrunch, Naspers hopes to make its mark in Southeast Asia and other parts of the Asia Pacific region with an investment in Carousell.

The marketplace currently has 144 million listings and 50 million items sold. It’s expanded into cars, property, jobs, services, and finance.

 

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Marian Jacob

Marian Jacob is covering South East Asia. Marian worked in marketing and corporate communications for over a decade, covering both internal and external communications. She began her career in professional services, leading up to communications business partnering in various multi-national organizations with progressive cultures. Marian has worked on both global and regional roles within communications. She also provides counsel to companies on strategic communications and marketing opportunities. She was an editor on the Singapore Audit Committee Guidance Committee Handbook for companies.