Carro, the company behind the MyTukar service in Malaysia is now announcing a strategic investment in one of the leading local media and automotive-focused companies, Driven Communications. The investment value is not disclosed at this time.
For those who are not familiar with Driven Communications, it has a number of brands under it, including Paultan.org, Carbase and Oto. Paultan.org focuses on news related to the automotive world, Carbase focuses on user guidance in buying vehicles, and Oto.my focuses on offering used car advertising services.
This investment is not expected to bring any drastic changes to operations, where all the board of directors are unchanged, including the employees under Driven Communications are fully maintained. Paul Tan and Harvinder Singh will continue to lead the management of Driven Communications.
Previously, Driven Communications had helped Carro in several matters, including the launch of myTukar Autofair. Paultan.org is also no stranger to the majority of automotive enthusiasts in Malaysia, with over 6 million monthly active visits organically. This strategic investment is expected to bring benefits to both parties.
In addition to this investment, we also previously witnessed Carsome also investing in several automotive-focused websites in Malaysia.