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In focus
- Australia on Carro’s radar as IPO plans gather speed
- Losses and falling revenue cast doubt on Trustana’s turnaround
- Grab’s driverless push is real. Here’s why this old piece still matters
Hello reader,
Whenever Carro co-founder and CEO Aaron Tan starts talking about “crazy ideas,” you know you are in for a ride.
At the Tech in Asia Conference in Jakarta last week, Tan had the audience’s attention as he discussed some of the wild suggestions that had come his way.
People, he said, often ask whether Carro might one day venture into manufacturing its own cars – something that would mark an ambitious leap for a company best known as an online marketplace for used vehicles. He also revealed that just a month ago, a car brand had approached the company with a proposal to white-label vehicles under the Carro name
Tan admitted he wasn’t entirely sure if the market was ready for something like a “Carro car.” Still, it was the kind of out-of-the-box idea that captured his imagination.
While these are just ideas that may not make it off the drawing board, it can’t be denied that they merge creativity and boldness.
That same spirit is now steering Carro’s next big move: its first acquisition in Australia. In today’s top story, we take a look at how the Singapore-based company plans to buy a “sizable” local automotive business by the end of 2025 – a milestone that could speed up its path to a potential IPO.
Meanwhile, Temasek-backed Trustana is placing its bets on AI-driven SaaS after years of losses. But with a shrinking runway and growing dependence on its parent firm, the company’s future may hinge on more than just a pivot.
Samreen Ahmad, journalist
Top Stories
1️⃣ Carro heads Down Under. Is an IPO on the horizon?
Carro co-founder and CEO Aaron Tan/ Photo credit: Carro
Carro’s planned acquisition in Australia signals its next expansion phase and improving financial strength ahead of a potential IPO.
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