Singapore-based secondhand goods marketplace Carousell expects to reduce its losses this year and achieve profitability, according to its CEO. The company reported $82.5 million in revenue in 2022, a 67% increase from the previous year. However, losses also widened by 57% due to higher expenses. Carousell has been expanding its presence in Southeast Asia through mergers and acquisitions, including the merger with Telenor Group's classifieds firm 701Search and the acquisition of OLX Philippines. The company aims to tap into the growing recommerce market and is well-capitalized to execute its strategies. Carousell last raised $100 million in funding in September 2021.

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