Available in English Website sgCarMart.com Owner Singapore Press Holdings Founded 2004 | Industry Internet Alexa rank 15,096 (January 2016) Headquarters Singapore Number of employees 60 | |
 | ||
Type of site Car magazine Automobile magazine Founder(s) Henry Seah, Tan Jing Lun, Vincent Tan | ||
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.
Contents
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.
In March 2012, sgCarMart tapped into IDA's IPv6 Transition Programme, to upgrade its network.
SPH acquired sgCarMart in April 2013 for US$48 million (SGD$60 million).
In September 2014, Land Transport Authority (LTA) and Singapore Customs, appointed sgCarMart to provide online auction service for the sale of their vehicles.
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.
Awards
sgCarMart took first place for the car category for 'Digital Media of the Year 2014' by trade magazine Marketing. and again in 2015.