Malaysia's Carsome open to new strategic investors

Carsome, a car e-commerce platform in Southeast Asia, is open for new funding, they told Reuters. At the Forbes Global CEO Conference in Singapore, Carsome co-founder and CEO, Eric Cheng, divulged that they’re looking for strategic investors who bring more to the table.

• Strategic Investment: Carsome is seeking investors with valuable insights to enhance their operations. If your enterprise specializes in car trading, financing, or insurance, you could be their ideal partner.

• Valuation & IPO: With a valuation of $1.7B, Carsome is primed for an IPO although they're not in a rush. They're also considering a dual listing, focusing on exchanges that guarantee ample liquidity.

• Profitability: Carsome is driving its profitability up the hill. They reached operational profitability in Q1 this year and are on track to break even by year-end.

• Expansion Plans: The Carsome brand isn't confined to Malaysia. Their online showroom extends to Indonesia, Thailand, Singapore, and even the Philippines.

With a network of over 8,000 dealers and 15 million monthly visitors, Carsome's platform is bustling.