A few years ago, Quek Siu Rui huddled with the board of his Singapore start-up to consider whether to sell. Quek was only 26 and the US$100mil (RM397mil) offer would have made him wealthy beyond his dreams. But he said no: He wanted to keep building the business.
Excellent call. Quek’s company, an app for selling used goods called Carousell, is now valued at about $500mil (RM1.9bil), according to a person familiar with the matter.
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