Carousell X Rakuten – Infinite Possibilities
The recent announcement of Singapore-based startup, Carousell, raising a US$35 million series B round was one of the largest in the mobile classifieds industry.
Led by Rakuten Ventures (the investment arm of the Rakuten Group), the sheer size of the investment comes as a surprise move, seeing how Rakuten, an e-commerce platform, is described by industry pundits as sluggish, complacent as well as unable to keep up with changing consumer behaviours and appetites.
However, the potential synergies between these two commerce platforms is endless – one with huge transactional capabilities, but with stale and stagnant products, and another with a continual supply of fresh and unique products but with weak transactional capabilities. While the expectation for Carousell and Rakuten to work together is purely speculative, it makes perfect sense for both to utilise each other’s strengths to create a holistic product for their customers.
With the limitless possibilities that can come from this Carousell-Rakuten partnership, we’re definitely going to keep an eye on this home-grown company that may hopefully produce one of Singapore’s first startup success stories.