Malaysia-based c-to-b-to-c automotive marketplace Carsome has acquired digital automotive content websites WapCar and AutoFun from Tang Internet Limited, merging the sites into fully-owned subsidiary WapCar AutoFun.
WapCar posts content related to vehicle exploration, transaction and ownership experiences, using industry-leading technology to help clients in Southeast Asia find their ideal car. The site produces distribute and manages Professionally Generated Content (PGC) and User Generated Content (UGC) at scale.
Last year, WapCar distributed an average of more than 1,400 article write-ups and 100 videos on a monthly basis across its YouTube and TikTok channels, attracting millions of customers across the region and becoming one of the most visited auto content sites, with over 6 million average Monthly Active Users (MAU).
Not long ago, Carsome announced the acquisition of ICar Asia, becoming the main shareholder in the second-hand automotive marketplace. Listed on the ASX exchange since 2012, it now has a market capitalization of IDR2.4 trillion ($200 million U.S.).
ICar Asia operates automotive listing sites across several countries in Southeast Asia. In Indonesia, it operates the Mobil123 portal for consumers and the SiJari application for car dealers. In Sept. 2019, iCar Asia announced the acquisition of Carmudi Indonesia for IDR42 billion, although both are still operating under their own brands. In addition to the listing portal, ICar Asia also owns OtoSpirit automotive media on the Indonesian market, which was founded in 2016.
“We are thrilled to announce the partnership with WapCar and a team with seasoned expertise in the content space. We believe our collaboration through content, technology and data will augment our ability to bring trust, transparency and choice to customers together,” said Eric Cheng, Carsome co-founder and Group CEO.