- Carousell cofounder Lucas Ngoo steps down after 12 years to learn new tech.
- The transition follows cost cuts, but Ngoo sees a strong future under current leadership.
- Carousell aims to build on its pioneer status in Southeast Asia consumer internet.
Lucas Ngoo, one of the original co-founders of Carousell, announced this week that he would be stepping down from his role managing daily operations at the popular online marketplace startup.
Ngoo has been with Carousell since its founding in 2012 and served as Chief Technology Officer until 2019.
Why is Ngoo taking a break?
In a post on LinkedIn, Ngoo explained that his decision to leave was a personal one, driven by a desire to take a break and educate himself on emerging technologies like AI, biotech, healthcare, and solutions for climate change. He will remain involved with Carousell as a cofounder, board member, and shareholder.
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Carousell future prospects
The transition comes on the heels of a round of layoffs in December 2022, when Carousell eliminated 110 positions to reduce costs, as well as a recent office move to cheaper headquarters. However, according to CEO and cofounder Quek Siu Rui, the company remains financially stable.
Ngoo expressed full confidence in Carousell’s business model and leadership team to continue driving growth into the platform’s second decade. “This is just the start for Carousell, and there is more to come,” he said while encouraging continued community support.
As one of the earliest players in Southeast Asia’s consumer internet space, Carousell will aim to build on its foundational years under new daily leadership.
