Formerly | Gmarket |
---|---|
Company type | Subsidiary |
Industry | Internet |
Founded | 2010 |
Founder | Ku Young Bae [1] |
Area served | Singapore, Malaysia, Indonesia, Hong Kong, Mainland China, Taiwan |
Key people | Ku Young Bae (Chairman and CEO) |
Products | E-commerce |
Services | Online shopping |
Number of employees | 650 (September 2018)[ citation needed ] |
Parent | Qoo10 Pte Ltd |
Website |
Qoo10 is a Southeast Asian e-commerce platform, formerly known as GMarket, headquartered in Singapore. [2] It operates localized online marketplaces across Singapore, Indonesia, Malaysia, mainland China, and Hong Kong, and on one international online marketplace. It optimizes its platform and services for small and medium enterprise merchants. [3]
Qoo10 was founded as a subsidiary of Qoo10 Pte. Ltd., in 2010 by Giosis Pte. Ltd., [4] a joint venture between Gmarket founder Ku Young Bae and eBay. [5]
Gmarket was founded in South Korea in 2000 as a subsidiary of Interpark. In December 2007, Gmarket was established in Japan[ citation needed ]. Gmarket was next established in Singapore in December 2008.[ citation needed ]
In April 2009, Ku Young Bae sold Gmarket to eBay. [6] [7] [8]
In May 2010, Giosis Pte. Ltd. was established as a joint venture between Ku and eBay to further develop Singapore and Japan marketplaces, and expand in the region. [9] [10] [1]
In March and April 2011, Gmarket was established in Indonesia and Malaysia respectively.[ citation needed ] In September, Gmarket launched its global marketplace.[ citation needed ]
In May 2012, Gmarket was rebranded as Qoo10. [11]
In January 2013, Qoo10 was established in China.[ citation needed ]
In January 2015, Qoo10 was established in Hong Kong.[ citation needed ]. In July, Giosis raises US$82.1 million in series a funding from Singapore Press Holdings, eBay, Oak Investment Partners, Saban Capital Group, Brookside Capital, and UVM 2 Venture Investments [12] [13] [14] The company stated their intention to use the funds to accelerate Qoo10's technology growth and service development, while investing in additional infrastructure and talent acquisition. [12] [13] [14]
In April 2018, eBay completed acquisition of Giosis Private Limited and its Japan properties, including Qoo10.jp [ ja ], which will operate independently from other Qoo10 sites. [15] [16] [17] eBay relinquished its stakes in Giosis' non-Japanese businesses, which moved under newly established parent company, Qoo10 Pvt. Ltd.
In October 2019, Qoo10 acquired ShopClues, an Indian e-commerce platform. [18]
In February 2024, Qoo10 acquired Wish.com, an American e-commerce platform for approximately $161 million. [19] At that time, the Qoo10.com site rebranded the logo from Qoo10 to Wish+.
eBay Inc. is an American multinational e-commerce company based in San Jose, California, that allows users to buy or view items via retail sales through online marketplaces and websites in 190 markets worldwide. Sales occur either via online auctions or "buy it now" instant sales, and the company charges commissions to sellers upon sales. eBay was founded by Pierre Omidyar in September 1995. It has 132 million yearly active buyers worldwide and handled $73 billion in transactions in 2023, 48% of which was in the United States. In 2023, the company had a take rate of 13.81%.
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William Klippgen is a Singapore-based Norwegian entrepreneur and technology venture capitalist who co-founded the price comparison portal Zoomit.com. He served as one of the judges on the television series Angel's Gate, which was broadcast on Channel NewsAsia in 2012. Klippgen is a co-founder and serves as the Managing Partner at Cocoon Capital. He holds an MBA from INSEAD where he is an Entrepreneur in Residence.
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