Carousell (company)

Carousell
Private
Industry E-commerce
Founded May 1, 2012
Headquarters 71 Ayer Rajah Crescent, Queenstown, Singapore
Area served
 Southeast Asia, Taiwan, United States
Key people
 Quek Siu Rui, Lucas Ngoo, Marcus Tan
Number of employees
 23
Website https://carousell.com

Carousell (旋轉拍賣) is a mobile and online consumer to consumer marketplace for buying and selling new and secondhand goods. It is headquartered in Singapore. Carousell operates within countries like Singapore, Malaysia, Indonesia, Taiwan, and the United States of America.[1] Carousell is currently available as a mobile app for both Apple and Android devices.[2]

History

Carousell was founded in Singapore on May 1, 2012, by co-founders Quek Siu Rui, Lucas Ngoo, and Marcus Tan.[lower-alpha 1] The first item sold on Carousell was an Amazon Kindle e-reader for S$75.[4]

In November 2013, Rakuten, with follow-on investments by Golden Gate Ventures, 500 Startups, and a few other investors invested $1 million in Carousell.[lower-alpha 2] Subsequently in November 2014, Carousell announced that it received US$6 million in investment from Sequoia India.[lower-alpha 3]

According to Vulcan Post, a Singapore electronic review website, over 2 million items has been transacted on Carousell to date.[lower-alpha 1]

Company

Growth

In a similar review by Vulcan Post, statistics showed that Carousell users created over 8 million listings of new items for sale in categories ranging from fashion to furniture and baby products.[lower-alpha 1]

To date, Carousell has expanded regionally to three countries, including Malaysia, Indonesia, and Taiwan.[8] However, Carousell's expansion into Taiwan faces competition against headstart companies like Yahoo! and Ruten, which are already settled in the e-commerce market.[9]

Partnerships and Collaborations

In January 2013, Singapore Press Holdings' ST Classifieds announced its collaboration with Carousell.[10]

According to a Yahoo Finance article in August 2013, Carousell announced its partnership with Singapore Press Holdings (SPH) Magazines, a subsidiary of SPH, to create a mobile app called SheShops Marketplace, selling fashion and beauty items.[lower-alpha 4]

Operation

Items

Carousell is an online mobile platform for consumers to buy or sell items. It lists and sells a variety of products. Items are prohibited for sale on Carousell if it is illegal and violates the marketplace's community guidelines.[13]

Controversy and Criticism

In a Yahoo Tumblr page, images of users posting photos or screenshots of their bad experiences they encounter on Carousell relating to scam, fraud and harassment have circulated on social media platforms like Facebook and Tumblr.[14] Users of Carousell have also complained about cases of scams by fake sellers.

Notes

  1. 1 2 3 Vulcan Post article on Carousell.[3]
  2. ↑ Initial investments in Carousell.[5][6]
  3. ↑ Sequoia Capital $6 million investment into Carousell.[7]
  4. ↑ Carousell partnership with SPH Magazines.[11][12]

References

  1. ↑ "Mobile Marketplace Carousell Raises $6M Series A Led By Sequoia Capital". Techcrunch. Retrieved 14 April 2015.
  2. ↑ "Carousell". iTunes. Retrieved 14 April 2015.
  3. ↑ "Singapore Marketplace App Carousell Saw 8 Times More Listings, Raises $6 Million In Investment!". vulcan post.
  4. ↑ "Carousell makes e-commerce simpler with mobile marketplace". e27. Retrieved 10 April 2015.
  5. ↑ "Singapore's Carousell raises $6M, gets Sequoia as new investor, squashes competition". techinasia. techinasia. Retrieved 14 April 2015.
  6. ↑ "Singaporean marketplace app Carousell snags $800K funding, sets sights on Malaysia and Indonesia". Techinasia. Retrieved 14 April 2015.
  7. ↑ Today, Online. "Carousell secures S$7.79 million in funding". Today Online. Today Papers. Retrieved 14 April 2015.
  8. ↑ "All Abroad the Carousell E-Commerce Expansion in Asia". establishment post. Archived from the original on 6 April 2015. Retrieved 5 April 2015.
  9. ↑ "Carousell's entry into Taiwan presents big opportunities and big challenges". TechinAsia. Retrieved 10 April 2015.
  10. ↑ "STClassifieds collaborates with Carousell to strengthen foothold with the Gen Y users". ST Classifieds. Retrieved 15 April 2015.
  11. ↑ "Carousell partners with Blu Inc Media". asiaone news. Straits Times. Retrieved 14 April 2015.
  12. ↑ "Carousell partners with SPH Magazines, marries editorial and e-commerce". Yahoo! Finance. Retrieved 15 April 2015.
  13. ↑ "Prohibited items on Carousell". Carousell Help. Retrieved 7 April 2015.
  14. ↑ "'Bro, still avail?' Wacky conversations on the Carousell app compiled in Tumblr blog". Yahoosg! Tumblr. Retrieved 15 April 2015.

External links

Official website

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