Softbank-backed Carro seeks valuation above $2B as it prepares for IPO- report

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.

Malaysia’s Carsome appoints Eric Chan as Group President and COO

Carsome Group Inc., an integrated car e-commerce platform in Southeast Asia, has on Thursday revealed strategic leadership transitions designed to fortify further the company’s commitment to growth and operational efficiency.

Chery Malaysia partners Carsome for vehicle trade-ins and training

Chery Malaysia has signed two memorandum of understanding (MoU) with Carsome and Carsome Academy. The primary focus of these partnerships is to improve vehicle trade-ins and enhance soft skills within the brand's network of representatives.

TNGlobal’s Top 10 most-read news articles in 2023

The global wave of layoffs hitting US tech companies like Meta, Amazon, and Twitter has also come to Southeast Asia amid a slowdown in fundraising activities for tech startups. Tech companies including venture capital-backed startups in Southeast Asia have also announced layoffs and austerity measures to cope with the uncertain macroeconomic situation.

Malaysia’s unicorn Carsome cutting “hundreds of jobs” to reach profit – report

Carsome “makes adjustments to its workforce where necessary,” the company said in an emailed response to Bloomberg's questions, declining to comment on specific numbers. “We remain committed to investing in all of our current markets and plan to accelerate profitable growth in 2024.”

Carsome appoints Miguel Fernandez as CFO

Southeast Asia’s largest integrated car e-Commerce platform Carsome Group Inc. has on Wednesday announced the appointment of Miguel Fernandez as its Group Chief Financial Officer, effective from November 1, 2023.

Malaysia’s unicorn Carsome open to new funding, open to dual-listing – report

Carsome is ready for an initial public offering (IPO) but is in no rush to list.

Carsome appoints former PwC Singapore chairman as first independent director

Southeast Asia’s largest integrated car eCommerce platform Carsome Group Inc. has on Monday announced the appointment of Yeoh Oon Jin to its board as its first Independent Director, effective from June 30, 2023.

Carsome partners PolicyStreet to introduce personal accident coverage in Malaysia

Malaysia-based user car platform Carsome has partnered InsurTech firm PolicyStreet to introduce Carsome Care+, a car personal accident coverage that also covers car loan payments in the event of unemployment.

Malaysia’s Proton forms partnerships with E-bidding firms myTukar, MUV and Carsome

Malaysian national carmaker Proton has formalized strategic partnerships with three E-Bidding Companies (EBC), namely myTukar, MUV and Carsome, to refine the disposal process of trade-in cars for customers.