Business

Carousell acquires Duriana as part of growth plans

Published: 4:00 AM, January 6, 2017

SINGAPORE – Homegrown start-up Carousell has made its third acquisition in less than six months, as it cements its position as the largest and fastest-growing mobile classifieds marketplace in the Asia-Pacific region.

Yesterday, it announced the acquisition of Malaysian-based Duriana, one of the fastest-growing mobile-first, fashion and lifestyle marketplaces in South-east Asia, for an undisclosed amount. The deal will add more than 600,000 Duriana users to the Carousell platform, boosting its global classifieds marketplace, which currently has more than 57 million listings and over 23 million items sold as of the fourth quarter of last year.

The acquisition also strengthens Carousell’s position as the largest mobile classifieds marketplace in Malaysia with more than five million listings. Duriana users will join the Carousell marketplace, where they can continue buying and selling online as part of a larger global community. Meanwhile, Carousell will also build on its strong growth in the Philippines.

“(The deal will) bring greater value to our users, especially in Malaysia and the Philippines, as Carousell now has a greater number of listings to shop from and a higher number of active users to transact with,” said Mr Quek Siu Rui, co-founder and chief executive of Carousell.

“We saw that Duriana users had similar demographics and interests in buying and selling fashion items, gadgets and electronics as well as home furnishing. By bringing Duriana users onto the Carousell platform, we are helping more people buy and sell their preloved items quickly and easily,” he added.

Carousell is keeping its focus on overseas expansion.

“It is our goal to be the largest and fastest-growing mobile classifieds marketplace worldwide … While we deepen our engagement in markets we are present in, international expansion is a key priority for us. We prioritise markets where we believe we can make the greatest impact,” Mr Quek said.

Carousell acquired personal safety app WatchOverMe’s team in September and online car classifieds platform Caarly in October last year. Since its launch in August 2012, Carousell has expanded to 19 major cities in seven countries, including recent launches in Hong Kong, the Philippines and Australia.