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 Latest massive layoff for Malaysia's first Unicorn

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Knnbuccb
post Nov 17 2023, 03:13 PM

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QUOTE(yhtan @ Nov 17 2023, 03:11 PM)
just to fulfill the founder childhood dream because he is Man Utd fans

Marketing perspective they should learn from Cuckoo, Cuckoo spend on Dato Siti Norhalizah and Lee Min Ho which has better marketing effect.
*
u read about it before?

i kinda guessed it too could havesmtg to do with founder childhood dream or something to shake hand or meet EC.... if not, why so specific use this person who is no longer famous.

agree, nowadays just sponsor any local artiste sudahla, save money and more famous

This post has been edited by Knnbuccb: Nov 17 2023, 03:13 PM
Knnbuccb
post Nov 17 2023, 03:15 PM

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QUOTE(latipbogiba @ Nov 17 2023, 12:02 PM)
tq carsome
i get good used car from you
*
but how about the warranty , extended 1+1 thingy
Phoenix_KL
post Nov 17 2023, 03:15 PM

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Temasek-Backed Carsome Cutting Hundreds of Jobs to Reach Profit

Used-car marketplace is slashing jobs across Southeast Asia
Startup trying to hit profitability as it eyes an IPO

https://www.bloomberg.com/news/articles/202...l-ipo#xj4y7vzkg
netflix2019
post Nov 17 2023, 03:16 PM

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QUOTE(Knnbuccb @ Nov 17 2023, 03:08 PM)
wonder whats the purpose
cantona is a nobody to people who wanna buy from carsome, those millenials
if anyone knows cantona its a diehard man U fan which is a very small proportion of the community.
sorry to man U fans but im just being honest.
*
yeah. so weird to see cantona in 2023

Should just go with kpop .... come to think of it.... Malaysia currently options so limited due to the yahudi and lgbt issue. Only can use korean. If use chinese many here also cannot accept cos ccp.
Knnbuccb
post Nov 17 2023, 03:22 PM

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QUOTE(netflix2019 @ Nov 17 2023, 03:16 PM)
yeah. so weird to see cantona in 2023

Should just go with kpop .... come to think of it.... Malaysia currently options so limited due to the yahudi and lgbt issue. Only can use korean. If use chinese many here also cannot accept cos ccp.
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i think even use nowadays thsoe influencer khairul aming or wabikong, mgag ppl also way cheaper, less than 100k can settle. or just pay those online car reviewers , bet they easily settle with cheaapo price...

i bet malaysians know them more than eric cantona, wtf old ah pek football player apa lanchow kaitan with selling car


This post has been edited by Knnbuccb: Nov 17 2023, 03:23 PM
latipbogiba
post Nov 17 2023, 03:31 PM

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QUOTE(Knnbuccb @ Nov 17 2023, 03:15 PM)
but how about the warranty , extended 1+1 thingy
*
1 year ady past. Left with one more year.
Ao far so good.

Btw the warranty only for 4 parts.
Engine
Gearbox
Aircond
I forgot the other 1
deathTh3Cannon
post Nov 17 2023, 03:34 PM

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Most of car drivers probably don't know who is Eric cantona, what a waste of $
ixaRA
post Nov 17 2023, 03:40 PM

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QUOTE(deathTh3Cannon @ Nov 17 2023, 03:34 PM)
Most of car drivers probably don't know who is Eric cantona, what a waste of $
*
Can use google.. but very weird why need to waste money on this.. better use kpop or local artis

Eric Daniel Pierre Cantona (French: Éric;[5] pronounced [e.ik dan.jɛl pjɛ kɑ̃.tɔ.na]; born 24 May 1966) is a French actor and former professional footballer. Regarded as one of the greatest Manchester United players of all time, Cantona is credited with having played a leading role in making Manchester United the dominant force in English football in the 1990s, and has legendary status at the club.[6] In 2004, he was named by Pelé in the FIFA 100 list of the world's greatest living players.


JimbeamofNRT
post Nov 17 2023, 03:51 PM

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QUOTE(mingosaur @ Nov 17 2023, 08:09 AM)


Carsome accelerated its spending in 2022, as evidenced by their Eric Cantona (ex-Manchester United football star) marketing campaign, reported to cost US$28.7 million (RM132.51 million)[/i].'

*
https://www.linkedin.com/feed/update/urn:li...01396839460864/

user posted image

need to ask ravisbook about that eric cantona thingy

JimbeamofNRT
post Nov 17 2023, 03:56 PM

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QUOTE(achong09 @ Nov 17 2023, 08:14 AM)
i have friend working in caresome also.. just called him and he say no such thing happen.. this is fake news leh...
your source true or not?  confused.gif
*
caresome or carsome uncle?

fake news what fake news?

sudah masuk Bloomberg summore.

Temasek-Backed Carsome Cutting Hundreds of Jobs to Reach Profit

Used-car marketplace is slashing jobs across Southeast Asia
Startup trying to hit profitability as it eyes an IPO

https://www.bloomberg.com/news/articles/202...f-potential-ipo




JimbeamofNRT
post Nov 17 2023, 03:58 PM

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QUOTE(hoonanoo @ Nov 17 2023, 08:37 AM)
mytukar also?
*
mytukar already bought share in p@ulietan

https://www.malaymail.com/news/money/2023/0...eadership/75274

meanwhile shitsome bought 2 useless car based websites
hoonanoo
post Nov 17 2023, 04:01 PM

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QUOTE(JimbeamofNRT @ Nov 17 2023, 03:58 PM)
mytukar already bought share in p@ulietan

https://www.malaymail.com/news/money/2023/0...eadership/75274

meanwhile shitsome bought 2 useless car based websites
*
so mytukar better managed?
Boy96
post Nov 17 2023, 04:01 PM

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QUOTE(JimbeamofNRT @ Nov 17 2023, 03:56 PM)
caresome or carsome uncle?

fake news what fake news?

sudah masuk Bloomberg summore.

Temasek-Backed Carsome Cutting Hundreds of Jobs to Reach Profit

    Used-car marketplace is slashing jobs across Southeast Asia
    Startup trying to hit profitability as it eyes an IPO

https://www.bloomberg.com/news/articles/202...f-potential-ipo

*
Eh u follow her also ah

Just shot my car rebiu video, will be on her channel soon
JimbeamofNRT
post Nov 17 2023, 04:02 PM

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[quote=RT8081,Nov 17 2023, 08:38 AM]
Times are bad
*

[/quote]


Cazey Tan

Digital Marketing Enthusiast | LinkedIn Certified Marketing Insider | Hustling In Progress
11mo
https://www.linkedin.com/posts/cazeytankarc...7893466112-1eyE

I'm dumbfounded by this decision by Carsome.

After raising almost USD 300 million in series E funding, what can possibly go wrong for this 1st Malaysia unicorn tech company?

Laying off 10% workforce might not be enough.

Over the next quarter, we could see more layoff coming from Carsome, all because the top management doesn't know what to do with the money from investors.

Here are a few top reasons why Carsome dominates on paper, but not the car industry market overall.

1. Too focused on used car market transactions

Everyone knows that cars are depreciating assets. The longer the car sits in the showroom, the lesser the value of the car.

Expanding their operations will not help much in the profitability of the company, unless they can sold off a trade-in car within a month of being trade-in. Totally reliant on this sole system puts them at risk of slow growth and not meeting investors expectations.

2. Carsome did not expand into other car business.

With the amount of money raised, I would've expected Carsome to dive into various car business such as rental car business or subscription car models like SoCar and GoCar.

Having these businesses in place can allow a steady flow of cash into Carsome's finances and generate a healthy financial yearly income.

3. Untapped new car partnership market

Someone needs to be a bit creative here. New car market partnerships have a lot of potential to drive more growth and sustainability in the long term.

Partnerships such as rental car subscriptions or rent, marketing, reviews, tests or even promotions can help Carsome to become a dominant player in Malaysia. But I just don't see it happening.

Recent acquisition of iCarAsia and WapCar could drive this potential but the question is, will they do it?

4. Wrong Brand Ambassador for Carsome

Seriously, I facepalm myself for this one. Eric Cantona? Are you kidding me? Is this football or someone related to cars?

Why not getting someone who knows cars? Like retired or current F1 drivers? Kimi Raikkonen, Fernando Alonso, Lewis Hamilton, Seb Vettel etc?

5. No focus on service centers.

Service centers are a huge plus points and it's a must have if you have such amount of money to expand your business. Plus, it can generate good income as well, by qualified trained mechanics.

Sadly, despite all the hype surrounding Carsome, I feel for those who will be laid off after this.

One mistake too many by the top management cost the employees their career.

I seriously feel that if they're going to make it into profitability, these 5 suggestions are a must to implement, or otherwise, another player can take these and dominate the market.

What do you think of Carsome's decision to layoff 10% of their workforce?
*

[/quote]


no wonder ravis krik krik...
JimbeamofNRT
post Nov 17 2023, 04:04 PM

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QUOTE(hoonanoo @ Nov 17 2023, 04:01 PM)
so mytukar better managed?
*
u think?

better ask paulietan
JimbeamofNRT
post Nov 17 2023, 04:04 PM

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QUOTE(Boy96 @ Nov 17 2023, 04:01 PM)
Eh u follow her also ah

Just shot my car rebiu video, will be on her channel soon
*
wuuhuu

mohon share !
RT8081
post Nov 17 2023, 04:04 PM

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[quote=JimbeamofNRT,Nov 17 2023, 04:02 PM]
Cazey Tan

Digital Marketing Enthusiast | LinkedIn Certified Marketing Insider | Hustling In Progress
11mo
https://www.linkedin.com/posts/cazeytankarc...7893466112-1eyE

I'm dumbfounded by this decision by Carsome.

After raising almost USD 300 million in series E funding, what can possibly go wrong for this 1st Malaysia unicorn tech company?

Laying off 10% workforce might not be enough.

Over the next quarter, we could see more layoff coming from Carsome, all because the top management doesn't know what to do with the money from investors.

Here are a few top reasons why Carsome dominates on paper, but not the car industry market overall.

1. Too focused on used car market transactions

Everyone knows that cars are depreciating assets. The longer the car sits in the showroom, the lesser the value of the car.

Expanding their operations will not help much in the profitability of the company, unless they can sold off a trade-in car within a month of being trade-in. Totally reliant on this sole system puts them at risk of slow growth and not meeting investors expectations.

2. Carsome did not expand into other car business.

With the amount of money raised, I would've expected Carsome to dive into various car business such as rental car business or subscription car models like SoCar and GoCar.

Having these businesses in place can allow a steady flow of cash into Carsome's finances and generate a healthy financial yearly income.

3. Untapped new car partnership market

Someone needs to be a bit creative here. New car market partnerships have a lot of potential to drive more growth and sustainability in the long term.

Partnerships such as rental car subscriptions or rent, marketing, reviews, tests or even promotions can help Carsome to become a dominant player in Malaysia. But I just don't see it happening.

Recent acquisition of iCarAsia and WapCar could drive this potential but the question is, will they do it?

4. Wrong Brand Ambassador for Carsome

Seriously, I facepalm myself for this one. Eric Cantona? Are you kidding me? Is this football or someone related to cars?

Why not getting someone who knows cars? Like retired or current F1 drivers? Kimi Raikkonen, Fernando Alonso, Lewis Hamilton, Seb Vettel etc?

5. No focus on service centers.

Service centers are a huge plus points and it's a must have if you have such amount of money to expand your business. Plus, it can generate good income as well, by qualified trained mechanics.

Sadly, despite all the hype surrounding Carsome, I feel for those who will be laid off after this.

One mistake too many by the top management cost the employees their career.

I seriously feel that if they're going to make it into profitability, these 5 suggestions are a must to implement, or otherwise, another player can take these and dominate the market.

What do you think of Carsome's decision to layoff 10% of their workforce?
*

[/quote]
no wonder ravis krik krik...
*

[/quote]
Well said. Lucky I didn't join them
JimbeamofNRT
post Nov 17 2023, 04:06 PM

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QUOTE(hoonanoo @ Nov 17 2023, 08:39 AM)
maybe because news last reach employees?

they r in denial syndrome?

not only that, co try to hide until it is too late, call them in to HR and tell them to pack up?
*
not even 24 hrs notice, lunch time got notice, straight away ask to clear the desk, return back company laptop and properties, then off you go

some of them got only 1 month compensation even work for more than 2-3 years
JimbeamofNRT
post Nov 17 2023, 04:09 PM

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QUOTE(mingosaur @ Nov 17 2023, 08:42 AM)
I was told everything was super last minute. Really bad handling from the management/HR. No office wide announcement. Started with townhalls for different departments at different days. After that called in for 1on1 and then provided letter.... most are immediate termination. Feel really bad but I guess it is the risk with startups.
*
Last year also liddat
JimbeamofNRT
post Nov 17 2023, 04:10 PM

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QUOTE(amboi_asamboi @ Nov 17 2023, 08:44 AM)
Eric cantona was a stupid move

Most people already forgotten about him

And he was known for his flying kick

Choose someone more recent or put amoi, awek, better

Since when u see (ex) soccer player help to sell cars?
*
https://www.linkedin.com/feed/update/urn:li...01396839460864/

user posted image

need to ask ravisbook about that eric cantona thingy

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