Lucas Ngoo, a co-founder of Singapore-based marketplace operator Carousell, is stepping back from the day-to-day management of the company after almost 12 years but will remain on its board.

Ngoo launched Carousell with Siu Rui Quek, and Marcus Tan in May 2012.

Lucas Ngoo

Lucas Ngoo

“I will continue to participate as a co-founder and board director and also as an advisor whenever needed. I continue to have a full vested interest in the success of Carousell as a co-founder, board director and shareholder and have full confidence in our business and leadership team” he said.

“It has been an incredible journey working with our CarouTeam to make selling secondhand even faster with machine learning and piloting features that shape our current re-commerce foundations. I believe there is more to learn, hence it is a personal decision of mine to take the chance to have a break to learn new areas of innovation and other industries, such as AI in biotech/healthcare, climate tech/energy transition and web3.”

Ngoo helped to launch Carousell Auto Group a few years ago, intensifying competition in the online used car market in Southeast Asia with rivals Carsome and Carro.

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