Singapore-based P2P marketplace Carousell is certainly among those firms that have had an amazing 2016. Having raised $35 million in series B in August, it went on to acqui-hire personal safety app Watch Over Me in September and later took over used car marketplace and dealership tool Caarly in October.
The startup has today announced acquisition of mobile classified startup Duriana, establishing itself as the largest and fastest growing mobile classifieds marketplace in Asia-Pacific. Duriana is Carousell’s third acquisition in the past six months, demonstrating its ambition to become a major go-to brand in the industry.
Founded in Oct 2013, Duriana has secured funding from investors like Alps Ventures and BEENOS. This deal will add over 600,000 Duriana users to the Carousell platform, boosting its global classifieds marketplace which currently has over 57 million listings and over 23 million items sold as of Q4 2016. Quek Siu Rui, Co-founder and CEO of Carousell, said,
By bringing Duriana users onto the Carousell platform, we’re helping more people buy and sell their preloved items quickly and easily. Our goal is to inspire our global community to fill their lives with more meaningful things instead.
Duriana co-founders will no longer continue with their position in the company. Co-founder and CEO Saeed Gouda said in an official press statement that he is looking forward to “pursue new adventures,” while adding that the team is “proud to have brought the company to this stage.”
Since Carousell’s launch in Malaysia in December 2014 and in Philippines in October 2016, the classifieds marketplace has been growing rapidly with almost 2 million items sold in Malaysia as of Q4 2016, almost doubling within a quarter. In the Philippines, the company has also enjoyed strong growth with over 80% QoQ growth in transactions from Q3 2016.
This acquisition will accelerate Carousell’s growth, and strengthens its position as the largest mobile classifieds marketplace in Malaysia with over 5 million listings. It will also build on its strong growth in Philippines, where Duriana has a noticeable presence. Phillipines is Carousell’s fastest market to reach over half a million listings, and positions it as the leader in the Philippines mobile classifieds industry just four months after official launch there.
Duriana users will join the Carousell marketplace, where they can continue buying and selling online as part of a larger global community. Saeed Gouda, Co-founder and CEO of Duriana commented,
Carousell is shaking up the mobile classifieds space, and we’re confident that Duriana users will enjoy buying, selling and connecting as part of the vibrant Carousell community.
Incorporated in May 2012, it has, since then, expanded to 19 major cities in seven countries including recent openings in Hong Kong, Philippines and Australia.