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Carousell
Company typePrivately held company
IndustryE-commerce
Founded2012
Headquarters
Singapore
Key people
Quek Siu Rui, Lucas Ngoo, Marcus Tan
Websitehttps://carousell.com

Carousell is a Singapore based e-commerce company, providing consumer to consumer sales servies via a mobile application. It is headquartered in Singapore. Carousell was founded by co-founders, Quek Siu Rui, Lucas Ngoo, and Marcus Tan in 2012, and it operates within countries like Singapore, Malaysia, Indonesia, Taiwan, and the United States of America.[1][2]

Users of Carousell must first register and create account before using it. With an account, the user will be able to buy or sell items which he/ she wants.[3]

History

Carousell was founded in Singapore on May 1, 2012, by co-founders Quek Siu Rui, Lucas Ngoo, and Marcus Tan, all of whom are friends. [4] One of the first item sold on Carousell was an Amazon Kindle e-reader which sold for S$75.[5]

As of November 2013, Carousell has successfully raised $1 million seed funding led by Rakuten, with follow-on investments by Golden Gate Ventures, 500 Startups, and a few other investors like Danny Oei Wirianto and Darius Cheung. Subsequently in November 2014, Carousell announced that it received a US$6 million in investment from Sequoia India.[6]

To date, statistics have shown that over 2 million items have been sold on Carousell, with an average of 8 transactions happening every minute.[7]

Company

Location and revenue

Carousell is a Singapore-based company and it's main office is located at 71 Ayer Rajah Cresent.[8]

Carousell has no primary source of revenue as yet[9], with no monetary transactions done on the app nor any external advertisements. [10]

Growth

Since it's launch in 2012, Carousell community has created over 8 million listings of new items for sale in categories ranging from fashion to furniture and baby products.[11]

Carousell plans to expand regionally to countries like Malaysia and Indonesia.[12] Carousell has already expanded to four new countries, including Taiwan and USA. [13][14] Carousell's expansion into Taiwan struggles against competing with headstart companies like Yahoo! and Ruten, which are already settled in the e-commerce market.[15]

Mergers and partnerships

In January 2013, Carousell partnered STClassified.[16]

In August 2013, Carousell announced it's partnership with Singapore Press Holdings(SPH) Magazines, a wholly-owned subsidiary of SPH. The partnership with SPH Magazines to launch SheShops Marketplace will bring over 200,000 fashion and beauty sales listings to readers of herworldPLUS and digital edition of selected magazines.[17]

Operation

Items

Carousell is an online mobile platform for buyers and sellers to buy or sell items. Most categories of items ranging from beauty products, lifestyle gadgets, furnitures, used textbooks, and cars and motors are listed and sold on Carousell. [18] Generally, anything can be sold on the app as long as it is not illegal and does not violate the Carousell Restricted Item Policy.[19]

Prohibited items are as such:

  1. Food
  2. Alcohol
  3. Health Supplements
  4. Contact Lenses and other optometry products
  5. Medicine and medical drug claims about an item
  6. E-cigarettes
  7. Hazardous materials which are flammable, explosive, corrosive, poisonous or otherwise dangerous
  8. Recalled items
  9. Weapons, including firearms - imitation firearms
  10. Tobacco and other smokeable products
  11. Drugs and drug paraphenalia
  12. Live animals and insects
  13. Items made from animals, including, but not limited to, endangered species and exotic animals
  14. Counterfeit items
  15. Items for rent and listings advertising rental services
  16. Items or listings that promote, support or glorify hatred and seek to discriminate and/or demean on the basis of race, religion, gender, gender identity, disability or sexual orientation
  17. Items or listings that promote, support or seek to engage users in illegal activity
  18. Items or listings that promote, support or glorify acts of violence
  19. Items or listings that seek to shame fellow Carousell members and/or reveal personal information of fellow Carousell members
  20. Items that infringe copyright laws including, but not limited to, unauthorized sales of eBooks
  21. Unauthorised resale of tickets
  22. Used undergarments and intimate items
  23. Stolen or Illegal goods
  24. Pornography and adult material including, but not limited to, pornographic books, magazines, videos and pictures.
  25. Human beings, human remains and body parts
  26. Services[20]

Buying

Buying on Carousell involves a process by firstly, as a buyer, quoting a price to the seller for the item of interest. Next, if a satisfactory price has been reached by both parties, the buyer can then contact the seller for a meet up based on own preferences for method of payment and transaction.[21]

Selling

Selling items on Carousell involves:

  • First, taking a photo of item that seller is selling.
  • Next, keying in a description of the item, which includes price and specify a location to meet the buyer.
  • Done! Item will be successfully listed on Carousell.[22]

Controversy and Criticism

References

  1. ^ Lee, Terence. "Carousell". Crunchbase. Retrieved 10 April 2015.
  2. ^ Carousell. "Carousell". Carousell. Retrieved 10 April 2015.
  3. ^ "How to Carousell". Carousell. Retrieved 5 April 2015.
  4. ^ Yap, Jacky. "Singapore Marketplace App Carousell Saw 8 Times More Listings, Raises $6 Million In Investment!". vulcan post.
  5. ^ Yap, Jacky. "Carousell makes e-commerce simpler with mobile marketplace". e27. Retrieved 10 April 2015.
  6. ^ Lee, Terence. "Carousell company info". crunchbase. Retrieved 10 April 2015.
  7. ^ Yap, Jacky. "Singapore Marketplace App Carousell Saw 8 Times More Listings, Raises $6 Million In Investment!". vulcanpost. Retrieved 10 April 2015.
  8. ^ Lee, Terence. "Company Details". Crunch Base. Retrieved 5 April 2015.
  9. ^ Yap, Jacky. "Here's why investors should bet big on m-commerce startup Carousell". e27.co. Retrieved 5 April 2015.
  10. ^ "How does Carousell make money?". qoura. Retrieved 5 April 2015.
  11. ^ Yap, Jacky. "Singapore Marketplace App Carousell Saw 8 Times More Listings, Raises $6 Million In Investment!". vulcan post. Retrieved 5 April 2015.
  12. ^ Hoi Cheong, Chan. "All Abroad the Carousell E-Commerce Expansion in Asia". establishment post. Retrieved 5 April 2015.
  13. ^ Carousell. "Carousell TW". Carousell TW. Retrieved 10 April 2015.
  14. ^ Carousell. "Carousell US". Carousell US. Retrieved 10 April 2015.
  15. ^ Josh, Horwitz. "Carousell's entry into Taiwan presents big opportunities and big challenges". TechinAsia. Retrieved 10 April 2015.
  16. ^ Yap, Jacky. "[Breaking] m-Commerce marketplace Carousell partners with STClassifieds". Yahoo. Retrieved 5 April 2015.
  17. ^ Teh, Joe. "Carousell and SPH Magazines partner to launch SheShops Marketplace - See more at: http://techielobang.com/blog/2013/08/21/carousell-and-sph-magazines-partner-to-launch-sheshops-marketplace/#sthash.hUqxp2jp.dpuf". techielobang. Retrieved 5 April 2015. {{cite web}}: External link in |title= (help)
  18. ^ Carousell. "Carousell". Carousell page. Retrieved 10 April 2015.
  19. ^ Carousell. "Prohibited items on Carousell". Carousell Help. Retrieved 7 April 2015.
  20. ^ Carousell. "Prohibited items on Carousell". Carousell Help. Retrieved 7 April 2015.
  21. ^ Carousell. "How to buy something on carousell?". Carousell Help. Retrieved 7 April 2015.
  22. ^ Carousell. "Carousell Help". Carousell. Retrieved 10 April 2015.
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Official website

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