Notable Roles | - Co-Founder & Group CEO, Carsome |
Key Recognition | - EY Emerging Entrepreneur of the Year (2020) |
Background and Early Foundations
Eric Cheng’s entrepreneurial journey began unconventionally. After dropping out of his accounting studies in his second year, he ventured into various business endeavors, including a stint in multi-level marketing and launching a short-lived household magazine. These early experiences, though challenging, provided him with invaluable lessons in resilience and adaptability.
In 2015, recognizing the inefficiencies in Malaysia’s used car market, Cheng co-founded Carsome with Teoh Jiun Ee. Their vision was to digitize the traditional car buying and selling process, offering a seamless and transparent experience for consumers.
Career Milestones and Impact
Year | Milestone |
|---|---|
2015 | Co-founded Carsome, aiming to revolutionize the used car industry in Southeast Asia. |
2019 | Selected as an Endeavor Entrepreneur at the 88th Endeavor International Selection Panel in Tokyo. |
2021 | Carsome became Malaysia's first tech unicorn after a significant funding round. |
2024 | Honored as the Tech Entrepreneur Unicorn Icon at PIKOM’s Digital Excellence Awards. |
- Company Valuation: Approximately $1.7 billion as of 2023.
- Annual Transactions: Over 100,000 cars sold annually across Southeast Asia.
- Regional Presence: Operations in Malaysia, Indonesia, Thailand, Singapore, and the Philippines.
- Workforce: Employs over 3,000 individuals across its regional offices.
Leadership Style and Influence
Eric Cheng’s leadership is characterized by a hands-on approach and a deep understanding of digital marketing and business development. His commitment to transparency and customer-centric solutions has positioned Carsome as a trusted platform in the used car market. Beyond Carsome, Cheng actively contributes to the startup ecosystem, serving as an advisor to various emerging ventures.
Legacy and Future Focus
Under Cheng’s guidance, Carsome has transformed from a startup into Southeast Asia’s largest integrated car e-commerce platform. His vision extends beyond commerce; initiatives like the Carsome Academy aim to upskill the workforce, while the Carsome Certified Lab ensures quality assurance in vehicle refurbishment. As the automotive industry evolves, Cheng remains at the forefront, driving innovation and setting new standards for digital transformation.
