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Carousell Spins Out Specialist Real Estate Vertical, Nha Tot

March 15, 2023

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The Southeast Asian marketplace operator Carousell has spun off a specialist real estate vertical site from its Vietnamese horizontal classifieds site Cho Tot.

Nha Tot will be the specialist website dedicated exclusively to real estate adverts and will be in direct competition with PropertyGuru-owned Batdongsan.

The opportunity to spin off a specialist real estate site to compete with PropertyGuru was made more attractive by the news that Soft Bank-backed Propzy was to shut down after talks to be taken over by 99 Group broke down in September 2022.

Operator	Classifieds Title	Market	Speciality
99 Group	SRX	Singapore	Real Estate
99 Group	iProperty.com.sg	Singapore	Real Estate
99 Group	99.co	Singapore	Real Estate
99 Group	99.co	Indonesia	Real Estate
99 Group	Rumah123	Indonesia	Real Estate
Carousell Group	Carousell	Singapore	Generalist
Carousell Group	Cho Tot	Vietnam	Generalist
Carousell Group	Mudah	Malaysia	Generalist
Carousell Group	OneKyat	Myanmar	Generalist

99 Group itself had been in merger talks with Carousell last year. Those talks ultimately broke down after Carousell's failed SPAC listing. 99 Group may still be looking for a way into the Vietnamese market after quietly raising an extra $11m extension of its Series C round this month.

by Edmund Keith

March 15, 2023

Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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Carousell Spins Out Specialist Real Estate Vertical, Nha Tot

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