Carousell in talks to buy property marketplace 99.co ahead of SPAC deal

ONLINE classifieds company Carousell is in talks to acquire Singapore-based property marketplace operator 99 Group ahead of a potential public listing in the US this year, according to people aware of the development.

The acquisition is likely to give a boost to Carousell's monetisation strategy as it doubles down on high-value transactions and shapes up for the public market, one of the sources said.

Negotiations with 99 Group are ongoing and they might not result in a deal, another source added.