In September, online classifieds giant, Carousell finally joined the unicorn club with a $100M fundraise and $1.1B valuation.

👟 If the shoe fits

Since then, it snapped up Ox Street, one of SEA's fastest-growing sneaker and streetwear marketplaces. (Forget scams because everything on Ox Street's certified legit!)

It's not a strange buy. Carousell's building a world where secondhand becomes the first choice by doubling down on trust and convenience. Plus, Ox Street's millennial and Gen Z audience is just what it's looking for.

💰  SPAC me

Carousell's been talking about going public in the US in a $1.5B SPAC since last year.

Met its match? It's in talks with the black-check company L Catterton Asia Acquisition Corp, which raised $250M in its IPO.

• Taste of luxe. L Catterton's backed by LVMH (the luxury goods empire behind Louis Vuitton).

Save the date. Carousell's SPAC listing could happen as early as this quarter.

🌊  SEA startup SPAC wave

The first to SPAC was Grab with its $40B SPAC in the US (aka, the world's largest SPAC). After the US SPAC frenzy, Singapore's now prepping to launch its first wave of SPACs.

• Desperate times? Singapore's SPACs come after a 🥱 2021, where only $1B was raised from just eight listings. (Yikes!)

Other SPACs-to-be we're watching are:

• Online realty firm PropertyGuru
• MMA media firm ONE Championship
• Online travel booking firm Tiket.com

But will the SPAC wave last? We'll have to wait and see.