Carousell co-founder Lucas Ngoo has announced that he will be stepping down from his role managing day-to-day operations at the online marketplace. In a LinkedIn post, Ngoo stated that he will continue with Carousell as a co-founder and board director, providing advisory support as needed. Although Ngoo’s decision is a personal one, he expressed a desire to take a break and explore new areas of interest, including biotech, healthcare, climate technology, and artificial intelligence.
This development follows Carousell’s cost-cutting measures, which included laying off 110 employees and moving into a more affordable office space in December 2022. Despite these changes, co-founder and CEO Quek Siu Rui emphasized that the platform remains well-capitalized and poised for growth. Ngoo expressed his confidence in the business and leadership team, urging continued support for Carousell.
The news of Ngoo’s decision generated interest and speculation about Carousell’s future direction. Many are curious to see how the co-founder’s transition will unfold and what new opportunities lie ahead for the company.
As Carousell continues to navigate the evolving e-commerce landscape, the platform’s users and stakeholders eagerly await updates on its progress and strategic direction. With Ngoo’s ongoing involvement as a co-founder and board director, and the company’s well-capitalized position, Carousell aims to build on its success and achieve even greater milestones in its second decade.
While Ngoo’s decision may raise some questions in the short term, it reflects his personal aspirations and desire to explore new fields. As Carousell’s journey progresses, stakeholders are hopeful that the company will continue to thrive under the guidance of its experienced leadership team.
Carousell’s success story has captivated many, and the platform’s ability to adapt and innovate will be key to its sustained growth. As the company embraces new technologies, such as artificial intelligence, and explores diverse sectors like biotech and healthcare, Carousell aims to remain at the forefront of the online marketplace industry.
Moving forward, Carousell’s users and stakeholders can expect the platform to leverage its resources and partnerships to create a seamless and satisfying user experience. With its well-established presence in multiple markets, Carousell remains committed to meeting the needs of its diverse user base and providing a platform where individuals can buy, sell, and interact with ease.
Ngoo’s decision to step down from day-to-day operations is a significant moment for Carousell, but it also signals the beginning of a new chapter. As the company continues to evolve and explore opportunities in emerging technologies, users and stakeholders can anticipate exciting developments from one of Southeast Asia’s most successful online marketplaces.
