The Evening Runway with Hongbin Jeong, Roshan Gidwani & Chua Tian Tian (4pm - 7pm)Under the Radar: In conversation with the CEO of Southeast Asia’s largest online car retailer Carro - its IPO plans, unicorn status, S$1.3 billion run rate revenue in FY2022, delivering another two times revenue growth in FY 2023, Expansion in Southeast Asia and Japan, Subscription service for used cars in Japan
We’re going to wrap up the week talking about the automotive marketplace landscape here in Southeast Asia and in particular, we want to talk about Southeast Asia’s largest online car retailer Carro.
The firm had achieved its unicorn status in June 2021 after a funding round led by SoftBank Vision Fund 2, and continued to see stellar growth thereafter.
According to technode global, the firm achieved profitability in its 2022 financial year. It said last September that the company is tracking over S$1.3 billion in run-rate revenue in FY2022 , and is positioned to produce another two times growth in revenue in FY2023. But what is the status so far and is the company on track to meet its target?
The company is also venturing into Japan, where it estimated the used car market is double the size of the whole of Southeast Asia. And as always, we want to find out how the experience has been for them thus far.
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Aaron Tan, Co-Founder and CEO of Carro for more.
