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