Co-founder and Group CEO, Carsome
His industry-disrupting platform transformed the automotive business through a digitalised approach
Noting the inefficiencies of the standard operation of buying and selling used cars, Eric Cheng and his co-founder Teoh Jiun Ee saw an opportunity to digitise the used car industry. Thus in 2015, Carsome was born, and what started as a price comparison site soon evolved into a consumer-to-business model that helped people sell their cars and dealers manage their inventories. Carsome also offers value-added services like auto financing, a 175-point car inspection, car valuation, test drives, ownership transfer and a one-year warranty. Within seven years, Carsome became Southeast Asia’s largest integrated e-commerce platform with presence across Malaysia, Thailand, Indonesia and Singapore, which led to it becoming Malaysia’s first tech unicorn in 2021.
Not one to rest on his laurels, Cheng also set up Carsome Academy, an automotive technical institute that helps produce highly skilled, industry-ready workers through technical education and practical training, as well as Carsome’s Certified Lab, a state-of-the-art car refurbishment facility based in Klang deemed to be the largest in Southeast Asia.
In addition to Cheng winning Ernst & Young Emerging Entrepreneur of the Year in 2020, the co-founders were recognised with several awards in 2021, including the SME & Entrepreneurs Business Awards’ Technopreneur of the Year and Southeast Asia Disruptors Boom21 by Wild Digital in 2021.
“Since day one, Carsome’s mission has been laser-focused, as we take on a customer-first approach in all that we do in order to gain users’ confidence.”
Southeast Asia Disruptors Boom 21—Wild Digital
Technopreneur of the Year—SME & Entrepreneurs Business Awards
Emerging Entrepreneur of the Year—Ernst & Young
Did You Know?
Eric Cheng is a big fan of Manchester United’s legendary coach Alex Ferguson, and claims to use many of the principles he applied in managing his team to manage his own company.