BEAMSTART Logo

Carousell Merges with Mudah Malaysia via Telenor Group

Carousell signed an agreement with Telenor Group to merge with 701Search, the owner of Mudah in Malaysia, Cho Tot in Vietnam and OneKyat in Myanmar.


Carousell Merges with Mudah Malaysia via Telenor Group | BEAMSTART News

- From our Sponsors -

Following the merger, Carousell will be valued at more than US$850 million with Telenor Group becoming the largest minority shareholder in Carousell, owning 32 percent of the combined company.

Mudah, Cho Tot and OneKyat will retain their individual names and platforms, continuing operations in Malaysia, Vietnam and Myanmar respectively.

- Featured Sponsor -

701Search's regional hub team that operates in Singapore will be fully integrated into Carousell.

This transaction further cements Carousell as the leading online classifieds marketplace platform in Southeast Asia, with annualized revenues of over US$ 40 million.

"Our mission has remained the same since day one. We want to inspire every person in the world to start selling and buying," Quek Siu Rui, Co-founder and CEO of Carousell said.

- From our Sponsors -

BEAMSTART is a Hub for Startup News, Business Networking, and Entrepreneurial Resources. Expand your network, discover new possibilities, and tap into a vast database of resources that can help you go further in your business and career.

 

Download the App

The app for business networking and startup resources. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).