SoftBank-Backed Carro Explores US IPO as Soon as This Month

Used-car marketplace Carro, backed by SoftBank, is reportedly considering a confidential US IPO filing as soon as this month, according to people familiar with the matter. The move would test investor appetite for Southeast Asian startups amid a mixed global IPO market.

Carro operates a digital platform for buying and selling used cars across Southeast Asia, with a strong presence in Singapore, Indonesia, Thailand, and Malaysia. The company has raised over $700 million from investors including SoftBank's Vision Fund, and was valued at over $1 billion in its last funding round. A US listing would provide a liquidity event for early backers and allow Carro to tap deeper capital markets. For equity traders, the IPO could signal renewed interest in the region's tech sector, which has seen subdued activity since the 2021 boom. Live stock prices and charts on NowPrice show how the market is reacting to IPO news and broader tech sentiment.

Investors will watch for the valuation Carro seeks and the reception from institutional investors. The company's financial performance, including revenue growth and path to profitability, will be key. If successful, Carro's IPO could pave the way for other Southeast Asian startups to pursue US listings, potentially boosting the region's visibility in global equity markets.