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
Add BT as a preferred source
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.
TRENDING NOW
Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now
Profit with purpose: Kim Choo Kueh Chang’s pivot from public listing to protecting heritage
Who would buy Vietnam’s state-owned stakes – when Hanoi is ready to sell?
Orchard plot, Jurong East EC, Raffles Town Club site among 10 new housing parcels in H2 GLS plan
