Carsome announces acquisition of WapCar, AutoFun businesses

Kuala Lumpur, Malaysia – Car e-commerce platform Carsome has announced the acquisition of the businesses of WapCar and AutoFun. Upon the completion of the acquisition, Carsome set up the parent company, WapCar AutoFun Sdn Bhd (WapCar), as a fully-owned subsidiary of the Carsome group in Malaysia.

WapCar first established its first flagship brands, WapCar and AutoFun in 2019. Today, it operates a number of automotive content websites and social media channels across Malaysia, Indonesia, Thailand, Philippines and Vietnam. WapCar provides a full range of content which covers car exploration, transaction, and ownership experiences, using industry-leading technology to help customers in Southeast Asia find their perfect car and immerse themselves in all things related to automotive. 

The platform also produces, distributes and manages highly-engaging professionally generated content (PGC) and user generated content (UGC) at scale.

According to Eric Cheng, co-founder and group CEO at Carsome, WapCar has built a strong automotive content strategy in Southeast Asia, liked by a large and engaging customer base. He added 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 said.

Meanwhile, Sting Peng, general manager at WapCar, commented, “We are excited to work with Carsome to collectively provide a smooth car buying and selling experience to millions of WapCar users on our platform across the region, as well as an end-to-end solution in their car transaction and ownership journey.”