SMU alumnus Kelvin Chng is the co-founder of Carro, which allows subscribers to select a plan and drive off with a car without needing to worry about annual depreciation and unexpected expenses such as repairs and insurance premiums. He obtained his bachelor of information systems degree from SMU, concurrently with his master’s in information technology from Carnegie Mellon University in Pittsburgh in 2011. Carro – the "Netflix for cars", in Mr Chng's words – was started over three years ago and broke even within its first year of operation. It now transacts around 2,000 cars a month with 300 or so staff across Singapore, Thailand and Indonesia.