Tech in Asia - Carousell’s next potential acquisition

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Hello there ,

Slightly more than a year ago, my friend and I decided to build our own desktop computers, which would involve buying the various components separately and assembling them ourselves.

Due to the pandemic and ongoing supply chain constraints, finding graphics cards at reasonable prices became incredibly difficult. While I was lucky enough to quickly find my own card, my friend didn’t fare so well.

To help him source for his own component, I scoured every third-party marketplace I could think of, eventually finding a person on Carousell who was selling a graphics card at non-scalper prices.

In today’s story, we explore the classified platform’s talks with Singapore-based proptech firm 99 Group to expand the former’s slate of offerings. Should the deal go through, it could prove a timely boost to Carousell, which is looking at a potential public listing in the US in the near future.

-- Jonathan
 
 

THE BIG STORY

Carousell in talks for $150m acquisition of 99 Group
If the deal goes through, 99 Group's valuation will be well above the US$83.6 million mark that it hit in 2020.
 
 

IN PARTNERSHIP WITH

What’s more important, the startup business idea or go-to-market strategy?

Sustaining the success of a startup is like cooking a complicated stew: You need to add in many ingredients to get that special flavor. For startups to keep thriving, it usually boils down to two main elements: the product idea and the go-to-market (GTM) strategy. The question is, which of the two is more important?

For a product idea to have real and sustainable change as well as success at scale, it requires the right GTM strategy, and startups can pick up tips on creating one from Fast Forward with HPE. The initiative is a multistage B2B startup competition from Hewlett Packard Enterprise that’s specially crafted to help scale and grow early-stage tech startups across Asia Pacific. It wants to foster a culture of growth, scalability, and sustenance by providing the next generation of digital disruptors with GTM strategy development and ecosystem support.

Tune in to watch the third and final episode of the competition, in which the four finalist startups go through one last round of grilling by the judges to determine the winners.



 

TRENDING NEWS

Sequoia India plans to raise $2.8b for new fund
The VC firm also plans to raise separate funds for India and Southeast Asia, reported MoneyControl.
Binance, YG team up for metaverse, blockchain projects
YG’s roster of K-Pop stars are expected to feature in digital assets, for which Binance will provide the tech infrastructure.
Japanese 🍺 startup drinks to $615k seed funding
Best Beer Japan offers a management software platform for breweries and has created Japan’s first keg sharing service.
Flipkart co-founder’s startup banks $25m in series A money
Startup scaling platform Xto10x said that it’s currently profitable, seeing 4x growth in the past year.
Surge pours $2m in first accelerator participant from MY
Iimmpact’s platform helps businesses make payments available to over 170 billers.
India’s Xpressbees turns unicorn with $300m raise
Logistics firm Xpressbees currently operates across 3,000 cities in India and delivers over 1.5 million packages per day.


EVENTS HAPPENING


You can also check out a curated list of trending tech events over here.
  • *Event* [Workshop] What NFTs mean to startups in Southeast Asia on February 10th
    Curious about NFTs and want to expand your insights about this phenomenon? On February 10, catch our workshop with David Shin, head of global adoption at the Klaytn Foundation, to learn more about the digital asset!
    Get a single ticket to attend this workshop or subscribe to Tech in Asia Core at just US$0.55/day for unlimited access to all our workshops, signature conferences, and premium content.
  • AWS SaaS Forum on March 8th
    Join the AWS SaaS Forum on March 8 to uncover opportunities and insights on SaaS trends, outlook for 2022 and how to build your business playbook. Attendance is complimentary.



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