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    A035420   KR7035420009

NAVER CORPORATION

(A035420)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Naver Spearheads US$80 Million Investment in Singapore's Carousell

09/15/2020 | 07:09am EDT

By Ben Otto

Singapore-based peer-to-peer shopping app Carousell has secured US$80 million in new investment from a consortium led by internet giant Naver Corp., taking the fast-growing company closer to a billion-dollar valuation.

The investment by South Korea's largest web search engine "is a vote of confidence and reinforces the relevance of our mission," Quek Siu Rui, Carousell's co-founder and chief executive, said in a statement Tuesday.

Carousell, which runs a fast-growing classified-ads marketplace in Southeast Asia, Taiwan and Hong Kong, said the injection of fresh funds would boost its valuation to more than US$900 million. Launched in 2012, the company also has backing from Norway's Telenor ASA, the venture capital firm Sequoia Capital and South African tech giant Naspers Ltd.

Jung An Lee, head of investments at Naver, said the company believed Carousell was poised to further consolidate a market leadership position.

The startup last year made acquisitions to boost its presence in Malaysia, Vietnam and the Philippines.

Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities are the other investors in the consortium, Carousell said. Credit Suisse advised on the transaction.

 

Write to Ben Otto at ben.otto@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG -1.15% 9.306 Delayed Quote.-17.47%
MIRAE CORPORATION -2.34% 20850 End-of-day quote.37.17%
MSCI TAIWAN (STRD) -0.75% 705.9 Real-time Quote.18.36%
NASPERS LIMITED -0.56% 3050.17 End-of-day quote.1.02%
NAVER CORPORATION 2.18% 398000 End-of-day quote.36.07%
TELENOR ASA -0.10% 143.6 Real-time Quote.-1.44%
All news about NAVER CORPORATION
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06/16MARKET CHATTER : Kakao Beats Naver to Become South Korea's Third Most Valuable C..
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06/16EXCLUSIVE : Indonesian e-commerce firm Bukalapak aiming for up to $800 million i..
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More news
Financials
Sales 2021 6 631 B 5,84 B 5,84 B
Net income 2021 16 406 B 14,4 B 14,4 B
Net cash 2021 1 697 B 1,49 B 1,49 B
P/E ratio 2021 3,77x
Yield 2021 0,10%
Capitalization 59 031 B 51 964 M 51 947 M
EV / Sales 2021 8,65x
EV / Sales 2022 6,48x
Nbr of Employees 15 148
Free-Float 90,1%
Chart NAVER CORPORATION
Duration : Period :
NAVER Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NAVER CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 32
Average target price 490 781,25 KRW
Last Close Price 398 000,00 KRW
Spread / Highest target 40,7%
Spread / Average Target 23,3%
Spread / Lowest Target 8,04%
EPS Revisions
Managers and Directors
NameTitle
Seong-Sook Han Chief Executive Officer & Director
Sang-Jin Park Chief Financial Officer
In-Hyuk Choi Chief Operating Officer & Director
Yeon-Ah Jeong Head-Legal Affairs & Compliance Support
Hae-Jin Lee Global Investment Officer
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