Carousell Explores US$1.5 Billion SPAC Listing: What We Know So Far

According to a Bloomberg report, Singapore’s online classifieds marketplace operator Carousell is considering listing in the US via a special purpose acquisition company (SPAC) merger.

A SPAC is a blank-check company that is designed to take private companies public without going through the traditional initial public offering (IPO) process.

The news report added that Carousell is working with an adviser on the potential transaction, valuing the company as high as US$1.5 billion.

The listing could take place as soon as the end of 2021. However, discussions are preliminary and details of Carousell’s listing plans could change.

As more details emerge, we will update this article. So do bookmark it!

Carousell, which was founded in Singapore nine years ago, has since expanded to eight markets across Southeast Asia, Taiwan and Hong Kong.

According to its website, Carousell is one of the world’s largest and fastest-growing marketplaces and is backed by Telenor Group, Rakuten Ventures, Naver, and Sequoia Capital India.

Apart from Carousell, other startups looking to go public by merging with a SPAC include Grab Holdings, PropertyGuru, and Malaysia’s online used-car platform Carsome.

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Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their own due diligence and consider their financial goals before investing in any stock.