Carro: How 3 friends built a $1 billion used car business | CNBC Make It

Autos marketplace Carro has been on an epic journey, establishing itself as one of Asia Pacific’s fastest growing start-ups and achieving coveted unicorn status in 2021. CNBC Make It’s Karen Gilchrist spoke to co-founder and CEO Aaron Tan about how he and his college friends built a billion-dollar business selling used cars, and what the road ahead has in store.

Contents:
00:00 Intro
01:26 Carro CEO Aaron Tan’s entrepreneurial journey
03:35 Euromonitor’s view on the expanding middle class, price-sensitive consumers
04:23 Carro’s subscription service
05:00 Pandemic’s impact on Carro
06:09 Carro’s sustainability plans

#startup #entrepreneur
-----

Like our Facebook page:

Follow us on Instagram:

Follow us on Twitter:

[AR-qozz]

One of the best series on YouTube. Keep them coming!

[TiMon-Experience]

That's inspiring to Watch!!
Valuing people's Money & Time and giving them the desired EXPERIENCES is helping them reach new heights
ATB!!!

[kimyong]

First time I get to know more about Carro. I would defitinely like to try their services since I dont think I will be forking out $200, 000 for a new car.

[atakama]

arrgh, we need to reach 10 billion value now, what a big problem. These type of news are made with money, thats a method of growth, also creates investment bubbles that burst easily

[K-SD-DAD]

His dragon shirt was so bright, i could have sworn I saw 🔥 spewing out of.😱

[vladrazym]

Did someone understand what exactly their app does using AI? Is it only me who missed this part or wasnt it even covered in the video?
Otherwise there was nothing interesting at all for me here

[babyshushersingapore]

In the past, a company's valuation is based on how much they earned. Now its based on how much they spent. What a way to distort this world and earn real money from IPO.

[CarlosMercadoINIGTDY]

The used cars market is now being tapped by more than one unicorn worldwide... in Latin America there's kavak. This was long due...

[srreventon]

The moment his university is mentioned... its almost as an equation of his talent being 10X'S plus
In my opinion that is one of the best schools 😇

[malita]

We need to respect money by not paying so much for a depreciating asset

[brimmed]

So Carvana really dropped the ball on just focusing on the US, sounds like SE Asia has it way harder buying cars out there

[silentpeasant]

In korea you can rent a brand new hyundai sonata in month for only 100$. Tax insurance all included.

[ariestan]

Wonder how much discount should I bargain with the seller ? If the car is $87, 388. Thanks.

[gearzone]

Most startups in SEA are built in Singapore. Then catapult their newly created startups to an environment different from Singapore like Thailand, Indonesia, Vietnam, Philippines, and the rest of it. By emulating what works in Singapore seems impossible to be working outside of Singapore. I still don't get it, what this startup really do besides from selling used cars online.

[virx]

Hmm the concept is kinda like Socar in Malaysia

[pencheng]

If they plan to do business here in the Philippines, I would highly suggest them to change their brand name.

[brandonsanchezrojas]

They're dead on with a sub subscription service

[pomme_paille]

What is the added value of this company? What does the AI do? They didn’t provide tangible information at all..

[ApexMotow]

Replace sleezeball used car salesmen with an app? I'm in!

[TheAsiaCentury]

definitely a great model, although a tight market, he surely does have backers