Singapore-based Carousell said it is now valued at $1.1 billion — which makes it Southeast Asia's latest unicorn.
Southeast Asia's online classifieds business Carousell on Wednesday said it raised $100 million in fresh funds that valued the company at over a billion dollars.The Singapore-based Carousell said it is now valued at $1.1 billion — which makes it Southeast Asia's latest unicorn, or start-ups worth more than a billion dollars.Ore Huiying | Bloomberg | Getty Images
SINGAPORE — Southeast Asia's online classifieds business Carousell on Wednesday said it raised $100 million in fresh funds that value the company at more than a billion dollars.The Singapore-based Carousell said it is now valued at $1.1 billion — which makes it Southeast Asia's latest unicorn, a start-up worth more than a billion dollars.
"We believe that the accelerated adoption of digital experiences is an opportunity for us to double down on our recommerce efforts with a focus on convenience and trust, to unlock step-change growth in our community," said Quek Siu Rui, co-founder and CEO of Carousell, in a statement. Recommerce refers to buying and re-selling previously owned products.
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