Carousell has completed the acquisition of Duriana, a Malaysian-based mobile classifieds startup, to become the leading mobile classifieds player in Malaysia. The deal also gives a significant boost to Carousell in Philippines, where Duriana has built a credible presence, and cements Carousell’s position as the largest and fastest growing mobile classifieds marketplace in APAC.
Duriana is Carousell’s third acquisition in less than six months. Since its launch in August 2012, Carousell has expanded to 19 major cities in 7 countries, including recent launches in Hong Kong, Philippines, and Australia. 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.
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, Carousell has also enjoyed strong growth with over 80% QoQ growth in transactions from Q3 2016.
“A classifieds marketplace offers its users the most value when there’s a large and vibrant community of buyers and sellers on the platform. We saw that Duriana users had similar demographics and interests in buying and selling fashion items, gadgets & electronics as well as home furnishing. 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,” shared Quek Siu Rui, co-founder and CEO of Carousell.
“This acquisition accelerates our international growth, and strengthens our position as the largest mobile classifieds marketplace in Malaysia with over five million listings. It also builds on our strong growth in Philippines, our fastest market to reach over half a million listings, and positions Carousell as (a) leader in the Philippines mobile classifieds industry just four months after our official launch in the market.”
Duriana users will join the Carousell marketplace, where they can continue buying and selling online as part of a larger global community.
“It’s been an exciting three years with Duriana, and we’re proud to have brought the company to this stage. After this exit, we’re looking forward to pursuing a new adventure.” said Saeed Gouda, co-founder and CEO of Duriana. “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. “