How an online automotive trade platform will be listed on NASDAQ and Singapore with $400 Mn IPO value
Background and Challenge
Client’s Background:
- An innovative car e-commerce platform provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is trusted, convenient and efficient, with presence across Malaysia, Indonesia, Thailand and Singapore.
Challenges Faced by Client:
- Barriers in assessing the Overall Market : The Client was facing a challenges to get detailed market research and industry potential analysis in each of the major South East Asian countries with detailed segmentation and penetration of online used car market.
- Difficulties in accessing competition assessment : In addition, the client wanted assistance in competition assessment and benchmarking and for the IPO prospectus, hence they outsourced this activity to Ken Research.
Online Used Car Industry at Glance:
- Fast increasing disposable income per household, greater supply in the market, and a move towards organized and transparent trade will drive the used-car market
- Growth is further supported by manufacturers investments in expanding the network of used cars dealers, building the brand and enabling customers to choose this option.
Approach and Recommendations
Phase 1:Provided the study of the detailed market assessment
- Ken collaborated with its client to curate a detailed market assessment and ecosystem for Online used car market in South east Asia.
- In-depth and detailed discussions were carried out with the top decision making authorities.
- The market assessment also included the market demand size to highlight the potential gaps to penetrate into the market and current model applicable in the sector have been evaluated carefully to streamline the future growth in sector.
- These discussions gave the client possible indication to get a know-how of the online used car Industry in SEA.
Phase 2: Key Analysis of Used Car competition benchmarking
- The second phase of work focused on competition assessment for distributors and extended coverage by providing future projections and outlook for the sector
- Deep Dive Benchmarking was done on operational and financial performance and understood the business model prevalent in various region to provide location preference for the company.
- The client was able to get clarity on Used Car Market Potential, Wholesale and Retail Market and Marketplace platform with eminent and noteworthy Primary Research by Ken Research in short span of time duration.
Phase 3: Quality Recommendations and advisory for the client
- After identifying and analyzing the pricing and end user analysis, Ken provided Potential for inorganic growth and digital business/ technology-led business model, whitespace Identification and opportunity to Expand to the client for to mark the way forward in in the market..
- Ken Research also offered recommended USPs to follow which includes various growth strategies, success factors and marketing strategies for the used car platform.
- Ken has been successful in assisting client with the Industry Information and customer survey analysis across South East Asian countries to understand the current online penetration
Result and Conclusion
Laid Plans for IPO filing
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The client has successfully understood the competition benchmarking and laid plans to release IPO prospectus.
Valuable Insights on Positioning Client in the Market
- The competition-specific market assessment that enables the Client to understand about detailed landscape on operational and financial performance and understood the business model prevalent in various region.
To the Way Forward
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The client was successfully able to get the Information and customer survey analysis across South East Asian countries to understand the current online penetration
Business Impact
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$400 Mn
IPO is expected to be listed on Nasdaq and Singapore Stock Exchange
