Headquartered in Singapore, it also operates in Malaysia, Indonesia, the Philippines, Taiwan, Hong Kong, Macau, Australia, New Zealand and Canada.

[9][10][11] A consortium led by South Korean Internet giant Naver has struck an investment deal with classifieds platform Carousell worth US$80 million.

[13] Carousell has expanded regionally to several countries, including Australia, Hong Kong, Taiwan, Malaysia, Indonesia.

[16] On 21 November 2019, Carousell merged with Telenor's 701Search to creates a regional leader in online classifieds across 8 markets in Southeast Asia, Hong Kong and Taiwan.

Mudah, Chotot and OneKyat which were owned by 701Search will retain their individual brands and platforms, continuing operations in Malaysia, Vietnam and Myanmar respectively following the merger.

[18][19] In September 2021, Carousell announced that it had raised US$100 million in a round of funding led by South Korean private equity firm STIC Investments,[20] bringing its valuation to US$1.1 billion.

[22][23] On 21 June 2018, Carousell announced its partnership with DBS Holdings, Stripe and VISA, to launch CarouPay, a mobile payment service.

[33] In October 2020, it was reported to the Health Sciences Authority that a long-banned weight-loss product was sold on Carousell and other e-commerce platforms.