Carro heads Down Under. Is an IPO on the horizon?
The Singapore-based company is currently hoping to close 2025 with US$80 million in Ebitda
CARRO, an online automotive marketplace based in Singapore, is making its first acquisition in Australia in a move that could help accelerate its path to a possible IPO.
The company is acquiring a “sizeable” local automotive business in the country, and the deal is expected to close before the end of 2025, co-founder and CEO Aaron Tan said at this year’s Tech in Asia Conference in Jakarta.
Although he did not disclose the deal’s value and specifics, he said the acquisition will follow Carro’s approach to Hong Kong’s Beyond Cars.
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