Sgcarmart co-founder leaves after 18-year stint

Vincent Tan, co-founder of Singapore car classifieds platform Sgcarmart, is set to exit the company after working there for 18 years.

Tan shared in an email that he will be departing the company and that September will be his final month at the firm. However, the co-founder did not share what he will be doing after his departure. New CEO Vinod Cherumadathil took over from Tan in March.

Coming from a mechanical engineering background, Tan co-founded Sgcarmart with JL Tan and Henry Seah in 2004 when the trio was still at university. They have since grown the platform, which now sees over 10,000 car listings and over 2.6 million users per month.

Earlier this year, it was reported that Singapore Press Holdings, which acquired the classifieds firm in 2013, had sold Sgcarmart to a consortium of Toyota companies for US$118 million.

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