Carousell's monetising push quadruples 2018 sales, but it's still US$25m in the red

Singapore

CAROUSELL's monetisation efforts may be starting to pay off, as the online marketplace operator quadrupled revenue to US$7 million in 2018, according to regulatory filings obtained by The Business Times.

But with its most recent valuation of over US$550 million, the seven-year-old loss-making startup may still have a ways to go to justify a multiple of close to 80 times revenue.