Source: The Edge Markets
Malaysia finally saw its first unicorn, which refers to a start-up valued at more than US$1 billion (RM4.2 billion), emerge in July when Carsome obtained the coveted status.
Finally, Malaysia can take its eyes off Grab, the one that famously got away when it moved across the Causeway in 2014. But this is just the beginning. The Digital Economy Blueprint, which was released last year, aims to attract five Malaysia-based unicorns by 2030.
It is worthwhile, therefore, to trace how Carsome achieved its current success and consider whether it can be replicated.
To do this, Digital Edge looked at Carsome’s history and spoke to well-known individuals in the ecosystem to understand what it did right.