Kul Bhushan · · 1 min readCarousell may acquire 🇸🇬 real estate marketplace firm
Online classifieds giant Carousell is in talks to buy 99 Group, a Singapore-based real estate marketplace, Business Times reported.
The acquisition will help Carousell access 99.co, a property search platform that operates in Singapore and Indonesia, data service provider Singapore Real Estate Exchange, and other portfolios.
The talks between the two firms are still underway and may not conclude in a successful deal, the report said.
The move is likely a part of Carousell’s recent efforts to tap high-ticket categories such as auto and luxury goods through a series of acquisitions. The Singapore-based classifieds company has bought firms like Ox Street, Caarly, OneShift, OLX Philippines, and 701Search.
The report comes after news that Carousell is allegedly in talks to merge with blank-check firm L Catterton Asia Acquisition Corp and list in the US. The combined entity will reportedly be valued at US$1.5 billion.
See also: 99 Group doubled sales bookings in 2020, eyes aggressive expansion
Editing by Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
