Carro, the parent company of myTukar has announced that it is making a strategic investment into Driven Communications, which comprises a portfolio of websites including paultan.org, carbase.my and oto.my.
paultan.org is a popular automotive review website with monthly active visits of up to 6 million traffic and ranks as the top most visited automotive website nationwide.
As part of the investment, Driven Communications’ co-CEOs Paul Tan and Harvinder Singh will continue to helm the business. The board of directors will remain unchanged and employees will be assured continued employment. The team will also continue to have complete autonomy over its editorial direction and decisions. The investment is expected to be completed within 2 months.
Paul Tan, founder and co-CEO of Driven Communications says, “We welcome Carro’s strategic investment and our shared vision of a better, digitalised, transparent automotive used car ecosystem. Like many businesses, Driven Communications suffered financially during COVID-19.
Carro said it aims to maintain a non-controlling stake and welcome other industry participants to jointly invest and support Driven Communication’s continued growth.”
