Will Carousell's backers reap even sweeter returns by its 12-year mark? The outcome is important to the tech ecosystem, as it may shape how investors feel about South-east Asian startups' exit potential.
Going by Carousell's latest valuation of about US$900 million, this could imply an exit valuation of US$1.13 billion at the very minimum. Naver and two other vehicles then bought over 4.3 million ordinary and preference shares from earlier investors. Angel investor Mr Cheung told BT that the Naver deal was"a good outcome for investors and bodes very well for the whole ecosystem".
"A few million dollars were allocated for eligible employees who have contributed to the building of the company. In fact they were prioritised in this deal, with founders taking less than half of what has been allocated to employees," the spokesperson said.
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