sgCarMart

sgCarMart
Type of site
 Car magazine Automobile magazine
Available in English
Headquarters Singapore
Owner Singapore Press Holdings
Founder(s) Henry Seah, Tan Jing Lun, Vincent Tan
Industry Internet
Employees 60+
Website sgCarMart.com
Alexa rank 15,096 (January 2016)[1]
Launched 2004 (2004)
Current status Active

sgCarMart operates a variety of businesses in Singapore, including vehicle classifieds, a car auction platform, an online marketing site, as well as car loans, insurance and settlement services.

History

Originally a car classifieds service, founded in 2004, the company managed to break even in 2007, and has since grown from a three-person team to a team of more than 60 staff. In March 2012, sgCarMart was reported to have an annual revenue of S$5 million (US$4.04 million) with over 10,000 listings on its site.[2]

In March 2012, sgCarMart tapped into IDA's IPv6 Transition Programme, to upgrade its network.[3]

SPH acquired sgCarMart in April 2013 for US$48 million (SGD$60 million).[4][5][6][7][8]

In September 2014, Land Transport Authority (LTA) and Singapore Customs, appointed sgCarMart to provide online auction service for the sale of their vehicles.[9]

Shareholders

Existing shareholders in the company include JDB Investment, Goh Cher Ngann, Ong Poh Huat, and co-founders Henry Seah, Tan Jing Lun, and Vincent Tan.[10]

Awards

sgCarMart took first place for the car category for 'Digital Media of the Year 2014' by trade magazine Marketing.[11][12] and again in 2015.[13]

References

  1. ↑ "www.sgcarmart.com Site Info". Alexa Internet. Retrieved 28 January 2016.
  2. ↑ Jacky, Yap (2 April 2013). "Singapore Press Holdings acquires sgCarMart for US$48M in cash". e27.co. Retrieved 28 January 2016.
  3. ↑ "SgCarMart Future-Proofs its Business with IPv6". iDA Singapore. 28 March 2012. Retrieved 28 January 2016.
  4. ↑ Willis, Wee (2 April 2013). "SPH Acquires SgCarMart for $48 Million". Yahoo! Finance. Retrieved 28 January 2016.
  5. ↑ "SPH shells out $60m for SGCM acquisition". Singapore Business Review. 2 April 2013. Retrieved 28 January 2016.
  6. ↑ "SPH: Acquisition Of sgCarMart For S$60 Million.". ShareInvestor.com. 2 April 2013. Retrieved 28 January 2016.
  7. ↑ "SPH takes over local car portal". Marketing-Interactive.com. 4 April 2013. Retrieved 28 January 2016.
  8. ↑ "SPH TO PAY UP TO $60M FOR SGCARMART". STCARS.sg. 4 April 2013. Retrieved 28 January 2016.
  9. ↑ Adrian, Lim (2 September 2014). "LTA to sell off vehicles via online auction". AsiaOne. Retrieved 28 January 2016.
  10. ↑ Terence, Lee (2 April 2013). "Singapore Press Holdings buys sgCarMart for USD 48M". TechInAsia. Retrieved 28 January 2016.
  11. ↑ "AsiaOne top news site in Digital Media of the Year survey". Asiaone. 29 December 2014. Retrieved 28 January 2016.
  12. ↑ "Digital Media of the Year 2014". Marketing-Interactive.com. 13 January 2015. Retrieved 28 January 2016.
  13. ↑ "SPH websites ranked among top choices of advertisers and marketers: Survey". The Straits Times. 15 December 2015. Retrieved 28 January 2016.
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