Add to cart: profit for Carousell

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In focus

• Carousell bets big on AI alongside recommerce
• ​​Is J&T’s growth getting more expensive?
• OpenAI gets the go-ahead for its latest model

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Hello reader,

In a “significantly stronger position” – that is how chief strategy officer Shing Tai Leung describes Carousell’s current standing to Tech in Asia for this edition’s featured story.

The classifieds and recommerce platform, which is based in Singapore, closed 2025 with positive full-year EBITDA on revenue that grew 18% year on year to US$141 million.

Part of how Carousell did it was by focusing on its bread and butter: recommerce.

Its revenue from the segment increased 40% year on year. This marks a significant change from 2024, when revenue from the business line fell 6% year on year.

In with the old and the new, though, as the firm’s expanded offline footprint also aided its cause. With the company’s physical stores, users can now trade items in and have them resold through its online platform.

Carousell says it had 29 such stores at the end of 2025 and is evaluating opportunities to increase this year.

Check out the full story for more data, as well as some insights on why the company sees AI as a key growth pillar and where it stands on a possible IPO.

If you’re interested in the financials of other firms, my colleague Duc has recently come up with another update on Tech in Asia’s startup earnings tracker.

Don’t worry – we keep an eye on the numbers so you don’t have to.

Miguel Cordon, journalist

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Top Stories

1️⃣ Secondhand sales surge pushes Carousell to EBITDA profit in 2025

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