TRACING CAROUSELL’S START-UP JOURNEY

Marcus Tan went to NOC Silicon Valley.

Quek Siu Rui & Lucas Ngoo went to NOC

Silicon Valley.

Pitched idea of Carousell at the Start-

Up Weekend Singapore. Emerged victorious,

beating 40 other ideas.

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HOW IT ALL BEGAN : TEAM FORMATION

2009

2011

MAR 2012

Awarded S$7,000 Practicum Grant.

Carousell started their journey @Blk71, an off-

campus incubation centre for NUS.

As part of the Mentorship Programme

offered, they were introduced to Vinnie

Lauria of Golden Gate Ventures.

PRE-FUNDING: IDEATION AND VALIDATION

APR 2012

MAY 2012

JUN 2012

2009

2011

MAR 2012

Carousell iPhone app launched in Singapore. Ranked Top 2 Free

Lifestyle app within 3 days of launch. They also participated in the Test-Bedding Programme.

Awarded ACE Start-Ups Grant of S$50,000 via NUS Enterprise. Carousell Pte

Ltd was incorporated.

Partnership with ST Classifieds & SPH

Magazines.

FUNDING: GROWTH AND DEVELOPMENT

AUG 2012

JAN 2013 APR 2012

MAY 2012

JUN 2012

2009

2011

MAR 2012

Hired Carousell’s 1st batch of NOC Singapore

interns.

Raised S$1 million in seed round led by Rakuten Ventures, followed by

Golden Gate Ventures, 500 Startups and a few others.

Raised S$7.8 million in Series A funding led by Sequoia

Capital, followed by Rakuten Ventures, Golden Gate

Ventures, 500 Startups and Darius Cheung (NOC Alumni).

POST-FUNDING: FURTHER GROWTH AND INTERNATIONALISATION

MAY 2013 NOV 2014

NOV 2013

AUG 2012

JAN 2013 APR 2012

MAY 2012

JUN 2012

2009

2011

MAR 2012

Awarded the Overseas Launchpad Grant.

Carousell set up base at Block 71 San Francisco.

Raised S$48 million in Series B funding led by Rakuten

Ventures, followed by Sequoia Capital, Golden Gate Ventures

and 500 Startups.

POST-FUNDING: FURTHER GROWTH AND INTERNATIONALISATION

NOV 2014

AUG 2016 MAY 2013 OCT 2014

NOV 2013

AUG 2012

JAN 2013 APR 2012

MAY 2012

JUN 2012

2009

2011

MAR 2012