• Carousell last month said it received an $80 million investment from a consortium led by South Korean tech company Naver, the creator of messaging app Line.
  • Co-founder Quek Siu Rui told CNBC the company is focused on becoming profitable over the next three-to-four years. 
  • Quek said Carousell saw more than a billion dollars worth of transactions on its platform between February and June.



a hand holding a cellphone: The Carousell application is displayed on a smartphone in an arranged photograph in Singapore.


© Provided by CNBC
The Carousell application is displayed on a smartphone in an arranged photograph in Singapore.

SINGAPORE — Online classifieds business Carousell is on its way to becoming one of Southeast Asia’s next unicorns — start-ups with a valuation over $1 billion — but co-founder and CEO Quek Siu Rui told CNBC the company is focused on becoming profitable over the next three-to-four years. 

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Carousell last month said it received an investment amounting to $80 million from a consortium led by South Korean

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The Carousell application is displayed on a smartphone in an arranged photograph in Singapore.

Ore Huiying | Bloomberg | Getty Images

SINGAPORE — Online classifieds business Carousell is on its way to becoming one of Southeast Asia’s next unicorns — start-ups with a valuation over $1 billion — but co-founder and CEO Quek Siu Rui told CNBC the company is focused on becoming profitable over the next three-to-four years. 

Carousell last month said it received an investment amounting to $80 million from a consortium led by South Korean tech company Naver, the creator of messaging app Line. Other investors in the consortium included Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities. That pushed Carousell’s valuation above $900 million. 

Regulatory filings and media reports indicated that only a portion of the investment involved the issuing of new shares. Some of Carousell’s existing shareholders including Golden Gate Ventures, Sequoia Capital

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