Published on 17 Nov 2020

Carousell - How To Thrive Amid Fierce Competition

Case Study by Wong King Yin

 As of January 2016, the Carousell app had been downloaded over one million times. Its mission is to inspire the world to start selling, while its vision is to make peer-to-peer buying and selling a lifestyle (Carousell, n.d.). In order to further expand in the Asia Pacific region, Carousell needed to raise sufficient capital. In January 2016, it was more than a year since it had secured the USD six million Series A fund. It was about time for Carousell to get ready for the next round of fundraising. Carousell’s co-founders needed to reflect on its internal capabilities and analyse the external business environment thoroughly so that they could develop a concrete strategic plan on how to compete and expand amid fierce competition. They needed the strategic plan to convince potential investors that Carousell was a company worth investing in when they tried to raise the Series B fund.

Read the report here.