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Search resuls for: "Quek Siu Rui"


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Secondhand goods marketplace Carousell expects to "healthily" reduce its losses this year, putting it on track to profitability, the firm's CEO told CNBC. And I think in a very promising sign, we actually are going to be healthily reducing our losses this year as well," said Quek Siu Rui, co-founder and CEO of Carousell said Monday, adding that the firm is "on track" with its plan to profitability. In 2022, the Singapore-based company posted $82.5 million in revenue, a 67% jump from the year before, according to regulatory filings. The Singapore-based firm was founded in 2012 as an online classified advertisements marketplace where users can list and sell their used goods for money. Research shows that the global circular economy — which seeks to reduce waste and promote recycling and reusing — could generate $4.5 trillion in additional economic output by 2030.
Persons: Siu Rui, Carousell, Quek Organizations: CNBC, Research Locations: Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe'll be 'healthily reducing' our losses this year, Carousell CEO saysQuek Siu Rui, CEO and co-founder of the Singapore-based online marketplace for secondhand goods, says "the best advice that we've gotten is to stay really focused on a few critical priorities."
Persons: Carousell, Quek Siu Rui, we've Locations: Singapore
Lauryn Ishak | Bloomberg | Getty ImagesMore tech startups in Southeast Asia laid off workers this year, as macro headwinds widened losses and venture capitalists pushed startups to extend their runways. Jia Jih Chai RainforestThey join Sea Group and other companies in the region in downsizing headcount. Sea Group, according to local media, laid off more than 7,000 employees over the past six months. Tech startups in Southeast Asia are still largely unprofitable, with names like Sea Group and Grab amassing billions of losses annually. Existing investors in the company are also actively advising founders to prepare for winter, Jussi Salovaara, Antler's co-founder and managing partner for Asia, told CNBC.
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