Carousell to Follow Suit on SPAC for US Listing; Valued at US$1.5 Billion

Joining the likes of tech giant, Grab and property listing platform, PropertyGuru to go public in the US


Teckwai Saw

10 Jan, 2022

Carousell to Follow Suit on SPAC for US Listing; Valued at US$1.5 Billion | BEAMSTART News

- From our Sponsors -

Carousell, Singapore-based secondhand goods marketplace, is in talks to go public via a merger with a blank-cheque company, L Catterton Asia Acquisition Corp.

L Catterton, formed in 2016 as a joint venture between private equity firm Catterton, LVMH and Groupe Arnault, manages more than $28 billion in equity capital.

It is reported that due dilligence is expected to be carried out on Carousell in the coming weeks so that a merger can be performed as early as this quarter.

The merger could see a joint entity valued at about US$1.5 billion.

This comes after the online classifieds marketplace was rumoured to be considering a US listing back in June 2021.

Latest Jobs

Product Analyst

Carro

Singapore

Full Time

SGD 4000 — SGD 5500 monthly

Senior Data Analyst

Pluang

Singapore

Full Time

SGD 3000 — SGD 6000 monthly

Carousell's History

Carousell was founded in Singapore during 2012, by Quek Siu Rui, Lucas Ngoo, and Marcus Tan.

The company focuses as a marketplace for buying and selling new and secondhand goods in Singapore, and has expanded across Southeast Asia, including Australia, Hong Kong, and Taiwan.

Community Q&A

Major Backing by Reputable Investors

Since 2013, Quest Ventures, Telenor Group, Rakuten Ventures, Naver, and Sequoia India are the few notable Carousell's backers.

In September 2021, Carousell is valued at US$1.1 billion, reaching unicorn status, after it had raised US$100 million in a round of funding led by South Korean private equity firm STIC Investments.






- From our Sponsors -

Latest Jobs

[URGENTLY NEEDED] Portuguese to English Proofreader

Elite Asia

Malaysia

Contract / Freelance

Salary Undisclosed

Junior Accounts Cum Admin Assistant

LABEL-LINE CORPORATION PTE LTD

Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

HR Manager

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3200 — MYR 3800 monthly

Head of Developers

TWGT

Manila, Philippines

Full Time

USD 2000 monthly

Financial Officer

PIVOT Fintech Pte Ltd

60, #11-25 Paya Lebar Rd, Paya, Singapore

Full Time

USD 5000 — USD 8000 monthly

Remote Sales Staff

Gann Markets

Remote Sales Staff , China (中国)

Full Time

USD 280 — USD 1000 monthly

Full Stack Software Engieer

HealthBeats Pte Ltd

Singapore

Full Time

SGD 4500 — SGD 6000 monthly

IT Engineer

bcause

Tokyo , Japan (日本)

Full Time

Salary Undisclosed

Teckwai Saw

Editor in Chief

Based in Kuala Lumpur / Malaysia

Works at BEAMSTART

Education Not Specified

beamstart.com

Also Mentioned



PropertyGuru

We connect property seekers with trusted real estate agents and top property developers.

Related Topics

IPO

More Related Stories

Community Discussions

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).