Tang Internet Limited and its subsidiaries have sold digital automotive content platforms WapCar and AutoFun to Malaysia-based integrated automotive e-commerce platform Carsome.
Carsome intends to establish WapCar AutoFun Sdn Bhd (WapCar) as a fully owned subsidiary of the group in Malaysia when the transaction is completed.
Carsome Co-founder and Group CEO Eric Cheng said in a news release that the relationship will enable Carsome to capture and assist clients from their early stages of automobile discovery, making the car purchase and ownership journey more engaging and exciting.
“We are thrilled to announce the partnership with WapCar and a team with seasoned expertise in the content space. We believe our collaboration through content, technology and data will augment our ability to bring trust, transparency and choice to customers together,” he stated.
This is the company’s newest purchase, after its acquisitions of other automobile firms in Southeast Asia in recent months. It had previously purchased a controlling position in Singapore-based CarTimes Automobile and finalized the acquisition of iCar Asia, a listing and content automotive platform.
WapCar launched its initial major brands, WapCar and AutoFun, in 2019 prior to the acquisition. It offers a wide range of materials aimed at assisting customers and automobile enthusiasts on their journey, including automotive discovery, transaction, and ownership experiences. Professionally Generated Content (PGC) and User Generated Content (UGC) are both produced, managed, and distributed through the platform (UGC).
According to the platform, it has released on average more than 1,400 article write-ups and 100 videos every month across YouTube and TikTok channels, which draw millions of consumers across the area, in 2021. With over 6 million average Monthly Active Users as of the fourth quarter of 2021, WapCar has become one of the most popular car content sites (MAU).
In Malaysia, Indonesia, Thailand, the Philippines, and Vietnam, it maintains a number of automotive content websites and social media outlets.
