Used car e-commerce platform Carsome has recently completed the full acquisition of digital automotive content businesses under brands of WapCar and AutoFun from Tang Internet Ltd and its subsidiaries. Following this, the two acquired businesses will be established as a fully-owned subsidiary of Carsome Group in Malaysia dubbed WapCar AutoFun.
Co-founder and Group CEO of Carsome Eric Cheng commented that this partnership will enable Carsome to capture and serve customers from their early stage of car exploration and bring a more engaging and fun experience to the car transaction and ownership journey. “We believe our collaboration through content, technology and data will augment our ability to bring trust, transparency and choice to customers together.”
With its first flagship brands, WapCar and AutoFun, established in 2019, the vehicle content platform operates a number of automotive content websites and social media channels across Malaysia, Indonesia, Thailand, Philippines, and Vietnam. WapCar provides a full range of content which covers car exploration, transaction, and ownership experiences.
Speaking on the acquisition, WapCar GM Sting Peng expressed their excitement in working with Carsome “to collectively provide a smooth car buying and selling experience to millions of WapCar users on our platform across the region, as well as an end-to-end solution in their car transaction and ownership journey.”
This announcement follows Carsome’s acquisition of a majority stake in Singapore’s CarTimes Automobile and automotive content and listing platform iCar Asia.