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Carsome's $23M EBITDA, Revenue Fall, & IPO Dilemma
Published 5 months ago
Description
What happens when Malaysian unicorn Carsome stops chasing "growth at all costs" and starts chasing the bottom line? After raising over $800 million and hitting a peak revenue of RM5.6 billion (pertaining to Carsome Sdn Bhd), the regional automotive e-commerce platform made a surprising move: it got smaller to get fitter.
Group CEO Eric Cheng joins the Breakfast Grille to explain the revenue contraction, how financing now contributes up to 30% of their profit margin, and why their recent $30 million raise isn't a lifeline, but a tech-heavy bridge to Greater China.
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