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Carsome forms new subsidiary after WapCar, AutoFun buy

Xavier Kong · 5 May 2022 · 1 min read

Carsome forms new subsidiary after WapCar, AutoFun buy

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Carsome, an integrated car ecommerce platform, has announced its acquisition of digital automotive content businesses WapCar and AutoFun.

Carsome showroom in Kuala Lumpur, malaysia

Pic credit: Carsome

The acquired businesses then formed the basis of WapCar AutoFun, a fully-owned subsidiary of the Carsome group in Malaysia, according to a statement issued by Carsome and WapCar.

WapCar and AutoFun, which were acquired from Tang Internet and its subsidiaries, operate a number of automotive content websites and social media channels in Southeast Asia. The two jointly offer content such as car reviews and ownership experiences with over 6 million monthly active users as of the last quarter of 2021.

These buys come after Carsome’s recent acquisition of a majority stake in Singapore-based CarTimes Automobile, as well as the purchase of another automotive content and listing platform, iCar Asia.

Editing by Miguel Cordon and Lorenzo Kyle Subido

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