Malaysia-based integrated automotive e-commerce platform Carsome announced that it has acquired digital automotive content platforms WapCar and AutoFun from Tang Internet Limited and its subsidiaries.
Following the completion of the acquisition, Carsome aims to set up WapCar AutoFun Sdn Bhd (WapCar) as a fully-owned subsidiary of the group in Malaysia.
In a press statement, Carsome Co-founder and Group CEO Eric Cheng said that the 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 are thrilled to announce the partnership with WapCar and a team with seasoned expertise in the content space. We believe our collaboration through content, technology and data will augment our ability to bring trust, transparency and choice to customers together,” he stated.
This acquisition is the latest that the company has announced in recent months, following its acquisition of the various automotive businesses in Southeast Asia. Prior to this, it acquired a majority stake in CarTimes Automobile in Singapore and completed the acquisition of listing and content automotive platform iCar Asia.
Prior to the acquisition, WapCar had established its first flagship brands WapCar and AutoFun in 2019. It provides a full range of content which covers car exploration, transaction, and ownership experiences that aim to assist customers and car enthusiasts in their journey. The platform produces, manages, and distributes both Professionally Generated Content (PGC) and User Generated Content (UGC).
In 2021, the platform said that it has distributed on average more than 1,400 article write-ups and 100 videos on a monthly basis across YouTube and TikTok channels, which attract millions of customers across the region. As of last quarter of 2021, WapCar had become one of most visited auto content platforms with over 6 million average Monthly Active Users (MAU).
It operates a number of automotive content websites and social media channels across Malaysia, Indonesia, Thailand, the Philippines and Vietnam.
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Image Credit: Carsome
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