Daily Markup #719: Purpose- & profit-driven Carousell is tapping into the collective power of their communities to do good through recommerce, and more from this week

Credit: Carousell

Minding their P’s

  • Did you know that majority of people  are more likely to support a brand’s need to be profitable if it also makes a positive impact on the world? That is why purpose-driven companies enjoy a stronger reputation and brand affinity.
  • 500-backed recommerce platform Carousell can attest to that, having served countless customers across Southeast Asia over a span of 10 years.
  • Why has this Singapore-born company resonated with consumers internationally? “We were looking for a problem — a meaningful problem in our daily lives that we hoped there was a solution for,” shared Co-founder Marcus Tan. That led the team to build a mobile app to make the buying and selling of under-used items simple.
  • The company’s mission of reducing waste and promoting sustainability is especially relevant today when people are increasingly more concerned about climate change and want to do their part to protect the environment.
  • Marcus added, “We want to inspire more people to adopt this lifestyle because we believe it’s meaningful, and we want to make secondhand the first choice.”
  • Over the past decade, Carousell’s users have extended the life cycle of millions of items, including 76.8 million fashion items, 33.9 million electronics, 26.6 million hobby items and toys, and 11.1 million home items and furniture.
  • Last year, the team partnered with IKEA to make circularity convenient and accessible to consumers in Singapore. Sellers who bought and sold pre-loved IKEA products or those who engaged in freecycling on the Carousell platform were rewarded with Carousell Protection vouchers and/or IKEA Family points.
  • “It’s important to look at the business model standpoint and think about how you can make the product more sustainable or how you can create social impact. The second aspect is tapping on your people—you’d be surprised how passionate people are when it comes to doing good,” Marcus said.
  • Read the full story on Forbes.

Other stories you may have missed:

  • OhmniLabs launches crowdfunding campaign to make hospitals a cleaner, safer place for everyone at half the cost
  • Parcel Perform CEO Arne Jeroschewski shares the most underestimated factor in running a startup
  • Ejen2u uplifts Malaysia SMEs & startups, including women and senior entrepreneurs; celebrates US$107M+ sales through their platform
  • iPrice joins the Bukalapak team to continue helping shoppers in SE Asia save money by bringing them the best prices
  • Co-founder of MYCL Adi Reza Nugroho shares about his startup journey and the road ahead for the ‘mushroom leather’ company
  • Why Mitra Bukalapak’s approach to building a familial connection with mom-and-pop kiosks in Indonesia has proved successful
  • Alodokter launched Alni, a chat-based virtual assistant for doctors, developed based on feedback from doctors and data gathered from teleconsultations on their platform 
  • Carsome Thailand aims to be a leader in the sale of used electric vehicles (EVs) by 2025, with Thailand set to be a pilot country for this EV market
  • Neuron Mobility was selected to provide e-scooters in Perth, Australia as part of a two-year trial.


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