Carsome to move its headquarters to luxury coworking space, Colony @ Mutiara Damansara

KUALA LUMPUR, MALAYSIA - MediaOutReach - 25 February 2019 - Carsome,Southeast Asia's leading & largest online used-carauction platform is moving its headquarters to luxury coworking space provider Colony.Shifting from its previous office in Petaling Jaya, the move comes as Carsomeramps up its expansion and operations in Southeast Asia.

After raising a total funding of over US$7.1million from global investors and landlord financing, the new 19,000 squarefeet coworking space is Colony's first foray into Selangor. Colony @ MutiaraDamansara is located at KYM Tower, a new Grade A, Green Building Index GoldCertified and MSC Status building located just 5-minutes from the Curve.

"We are excited to announce that we'll bemoving to a new location. By moving our headquarters to Colony, we arecommitted to provide an elevated working experience to the team and gaining asolid foothold in Southeast Asia," said Eric Cheng, CEO & Co-Founder ofCarsome.

As one of Malaysia's top startups, Carsome isthe first automotive website in Malaysia that provides efficient car-sellingservices to individuals and entities. Carsome provides multiple touch pointsfor sellers to sell the car, while ensuring a fair trade-in price through itsonline auction platform. Funded by solid local and global investors, they haveraised a total funding of over US$35 million and is currently operating inMalaysia, Singapore, Indonesia, and Thailand with over 14 inspection centres.

"We are honoured to be Carsome's trustedpartner in their journey of growth. At Colony, we constantly strive to providea reliable and first-in-class hospitality service to our guests. Our goal is togive established companies such as Carsome a peace of mind when it comes totheir workplace, this way they can focus on what matters most in theirbusiness," said Timothy Tiah, Executive Director of Colony.

Last year Colony announced that it closed aRM5.6 million anchor tenant deal for its second location at Eco City. WithCarsome's 150-person team and its previously announced deal with Malaysia'slargest snack company Mamee, Colony @ Mutiara Damansara is already slated toopen with 81% occupancy rate in July 2019.

About Carsome

Carsomeis Southeast Asia's leading& largest online used-car auction platform. Through its online bidding portal, customers are able tosell their vehicles directly to dealers nationwide. Carsome facilitates theentire car-selling process from inspection, to valuation, bidding and paymentas well as logistics needs, allowing the customers to sell their cars as fastas one day with zero charges and minimal effort.

Headquarteredin Malaysia, the company has since expanded to Indonesia, Thailand andSingapore and has one of the largest dealer networks with more than 4,000registered dealers on its platform. Since its inception in 2015, Carsome hasregistered more than 685,000 bids for cars, with over 70% of the transactionsbeing done inter-city. https://carsome.my

About Colony

Colony is a luxurious co-working space and servicedoffice provider based in the heart of Kuala Lumpur with plans and pricingcurated to eliminate hefty set-up costs, maintenance hassle, and long-termrental contracts. Raved over for its chic and Instagram-worthy interior, thecompany aims to enable guests to focus on their life's work and reach newheights while all else is taken care of. The company is backed by Oak DriveVentures, Cornerstone Partner's Group and family offices around the region. https://www.colony.work