Established in October 2013, Duriana has actually protected funding from investors like Alps Ventures and BEENOS. This deal will add over 600,000 Duriana users to the Carousell platform, improving its worldwide classifieds market which currently has over 57 million listings and over 23 million products sold as of Q4 2016. Quek Siu Rui, Co-founder and CEO of Carousell, said,
By bringing Duriana users onto the Carousell platform, were assisting more individuals buy and offer their preloved products quickly and easily. Our objective is to motivate our worldwide neighborhood to fill their lives with more meaningful things rather.
Duriana co-founders will not continue with their position in the business. Co-founder and CEO Saeed Gouda stated in a main press statement that he is anticipating “pursue brand-new adventures,” while including that the team is “happy to have brought the company to this stage.”
Since Carousells launch in Malaysia in December 2014 and in Philippines in October 2016, the classifieds market has been growing rapidly with practically 2 million products offered in Malaysia since Q4 2016, practically doubling within a quarter. In the Philippines, the business has also enjoyed strong development with over 80% QoQ development in transactions from Q3 2016.
This acquisition will speed up Carousells development, and enhances its position as the largest mobile classifieds market in Malaysia with over 5 million listings. It will also build on its strong growth in Philippines, where Duriana has a visible presence. Phillipines is Carousells fastest market to reach over half a million listings, and positions it as the leader in the Philippines mobile classifieds market simply four months after main launch there.
Duriana users will sign up with the Carousell market, where they can continue purchasing and selling online as part of a bigger global community. Saeed Gouda, Co-founder and CEO of Duriana commented,
Carousell is shocking the mobile classifieds area, and were confident that Duriana users will delight in purchasing, selling and linking as part of the vibrant Carousell community.
Included in May 2012, it has, since then, expanded to 19 major cities in 7 countries consisting of recent openings in Hong Kong, Philippines and Australia.