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.