Another Sinki High Tech Unicorn seeking 1.5B huat big big IPO.

[k1976]

Southeast Asia’s used-car marketplace Carro is raising about $100 million as it gears up for a stock-market debut, betting that new funds will cement it as the region’s top player.

The company is speaking with investors for a pre-initial public offering funding round which could raise its valuation to more than $1.5 billion, Chief Executive Officer Aaron Tan said in an interview. The firm, which has about 4,500 staff and counts SoftBank Group Corp. as well as Singapore’s GIC Pte and Temasek Holdings Pte among its investors, just posted its first annual operating profit.

 

[k1976]

Carro, whose platform allows consumers and dealers to buy and sell vehicles, is trying to win over investors scarred by an implosion in startup valuations over the past two years. The Singapore-based startup is also operating in a highly competitive market, one that’s resistant to change. Tan, who founded his startup in 2015 with two fellow Carnegie Mellon graduates, is betting on innovations to stand out from the pack.

The CEO demonstrated a tool for instance he called the Shazam of engines, which analyzes the health of a second-hand car from the sound of its motor. And the startup offers a five-day no-questions-asked return policy, unheard-of in many parts of Asia. To top it all off, Carro intends to expand its operations in Japan and Hong Kong this year.

“We are ready for an IPO,” Tan said. “Whether or not we list depends on the broader macro environment.”

Carro is raising capital during one of the hardest possible times for fledgling firms. The Southeast Asia technology industry has been plagued by job cuts, CEO resignations and falling startup valuations, making it difficult for companies to debut on public markets. Shares of regional tech peers Grab Holdings Ltd., Sea Ltd. and GoTo Group have waned as they work to balance growth and profitability in a region that’s losing its luster.

 

[k1976]

https://sg.yahoo.com/finance/news/s...e-over-15-billion-ahead-of-ipo-010500692.html

Wow...a huat bug big opportunities for all

Boss John, u buy already?

 

[millim6868]

Lol, using those GLC names again lol,

 

[laksaboy]

Isn't their office at Midview City, Sin Ming Lane? 1.5bil for being a car reseller?

 

[mahjongking]

Isn't their office at Midview City, Sin Ming Lane? 1.5bil for being a car reseller?

peesai is scam city.........no surprises

 

[k1976]

COE is a prized asset around de world mah

 

[syed putra]

They are too late. In Jiu hu, they lost ground by being a decade too late to rivals. Carlists and mudah.com.