Gushcloud International

Last updated
Gushcloud International
TypeTalent agency
Founded2011, Singapore
FounderAlthea Lim, Vincent Ha
Headquarters
Singapore
Area served
Singapore, Malaysia, Indonesia, Thailand, Philippines, Korea, Vietnam, Japan, China, and USA.
Number of employees
300 [1]  (2019 [1] )
Website https://gushcloud.com

Gushcloud International is a global influencer, entertainment, and talent acquisition company. It is headquartered in Singapore and began in 2011. [2] [3]

Contents

History

Althea Lim and Vincent Ha are the co-founders of Gushcloud International, [4] which has offices in Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, South Korea, Japan, and the US, and 300+ employees. [5] [6] Gushcloud International works with influencers, content creators, and celebrities in Asia. The establishment has five working units: marketing, talent, investment, entertainment, and technology. [1]

In 2015, Yello Digital Marketing Global (YDMG), based in South Korea, gained control of the company by buying 62% of its shares for USD 7.5 million [7] [8] but in November 2018, the co-founders bought back the 62% shareholding from investor YDMG for USD 8.2 million. [5] [9] Between 2015 - 2018, it grew from three to nine markets. [7]

Russell Simmons, the co-founder of Def Jam Recordings, became the President in September 2019. [10] [1]

Scandal

In 2014, a blogger from Singapore, Xiaxue, alleged that Gushcloud had unethical practices, [11] to which Gushcloud issued a point-by-point rebuttal. [12] In 2015, Xiaxue once again alleged that Gushcloud had paid celebrity bloggers to write negatively against the rivals of Singtel, which Singtel and Gushcloud initially denied but later apologised. [13] [14] [15]

Investments and Acquisitions

In 2017, the company raised USD 3 million from South Korea’s YG Group, [16] [17] a record label and media company, and an unspecified amount from Japan's D2C Inc, which is a joint venture between NTT Docomo, Dentsu Inc, and NTT Advertising, Inc. [3] In 2018, Gushcloud entered into a joint venture with YAN Digital, the digital arm of YAN Media Group [18] and Hahm Shout, a Korean public relations firm. [19]

In May 2018, the company invested in Summer Beauty House, a social commerce venture. [20] [21] In February 2019, Gushcloud International acquired the marketing agency, DSTNCT [4] and launched Ribbit, a micro influencer network, in April 2019. [22] [23] In February 2020, it acquired MODA Creative. [24] [25] In September 2019, it raised USD 11 million from Korea Investment Partners, Golden Equator Ventures, and Kejora Ventures. [26] [27]

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References

  1. 1 2 3 4 "From crises to conquest: How Gushcloud's founders turned their business around". CNA Luxury. Retrieved 2019-11-13.
  2. ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2019-05-08.
  3. 1 2 Lin, Jessica (2017-11-10). "Singapore's Gushcloud to open Japan office after securing investment from digital advertising company D2C". Business Insider Singapore. Archived from the original on 2019-05-08. Retrieved 2019-05-08.
  4. 1 2 Farveen, Farzanah (2019-02-14). "Gushcloud acquires marketing agency DSTNCT". Marketing Interactive. Retrieved 2019-05-08.
  5. 1 2 Tan, Janice (2018-11-16). "Gushcloud splits from Yello Digital, founders buy back company for US$8.2m". Marketing Interactive. Retrieved 2019-05-08.
  6. ↑ Indonesia, Femina (2018-04-22). "Belajar Menjadi Influencer Sukses di Media Sosial". femina.co.id (in Indonesian). Retrieved 2019-05-08.
  7. 1 2 "Gushcloud weathered a PR disaster. It's now growing and profitable". www.techinasia.com. Retrieved 2019-08-26.
  8. ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2019-05-08.
  9. ↑ "Gushcloud launches new sports marketing division". Marketing Interactive. 2017-05-11. Retrieved 2019-05-08.
  10. ↑ Tay, Vivienne (2019-09-18). "Gushcloud names Def Jam co-founder as president, raises US$11m for global push". The Business Times. Retrieved 2019-09-24.
  11. ↑ Chu, Mei Mei (2014-12-24). "Everyone Is Talking About Xiaxue's Big Exposé On Gushcloud. Can I Have A Summary Please?". SAYS. Retrieved 2020-03-08.
  12. ↑ Lee, Terence (23 December 2014). "Singapore startup Gushcloud rebuts Xiaxue's accusations". www.techinasia.com.
  13. ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com.
  14. ↑ Hicks, Robin (2015-03-17). "Xiaxue exposes Gushcloud for paying celebrity bloggers to write negatively about Singtel rivals, Singtel denies issuing brief". Mumbrella Asia. Retrieved 2019-09-09.
  15. ↑ Dhanaraj, Jennifer (2015-03-18). "Singtel apologises for smear campaign against rivals". The New Paper. Retrieved 2020-03-08.
  16. ↑ Thomas, Sujin (2017-10-16). "Gushcloud raises $3 million from YG Investment to expand its influence in Southeast Asia". Business Insider Singapore. Archived from the original on 2019-05-08. Retrieved 2019-05-29.
  17. ↑ "Gushcloud raises $4m from YG Investment, plans to expand entertainment group's influence in SEA". AsiaOne. Retrieved 2019-05-08.
  18. ↑ "Gushcloud Agency enters Vietnam via JV". Marketing Interactive. 2018-01-02. Retrieved 2019-05-08.
  19. ↑ Farveen, Farzanah (2018-08-07). "Gushcloud bolsters Korean ops partnering with PR firm Hahm Shout". Marketing Interactive. Retrieved 2019-05-08.
  20. ↑ Tay, Vivienne (2018-05-07). "Gushcloud eyes beauty space, partners Indonesia-based beauty community". Marketing Interactive. Retrieved 2019-05-08.
  21. ↑ SkunkWorks (2018-05-15). "Summer Beauty House, Rumahnya Para Beauty Enthusiast". gadis.co.id (in Indonesian). Retrieved 2019-05-08.
  22. ↑ "Instagram influencer sponsored posts rose 189% in Asia: Socialbakers". Branding in Asia Magazine. 2019-05-02. Retrieved 2019-05-14.
  23. ↑ Manjur, Rezwana (2019-04-25). "Gushcloud Marketing Group launches micro influencer network called Ribbit". Marketing Interactive. Retrieved 2019-05-14.
  24. ↑ "Gushcloud Acquires Australia's Digital Talent Startup MODA". AsiaTechDaily - Asia's Leading Tech and Startup Media Platform. 2020-02-03. Retrieved 2020-04-08.
  25. ↑ Gushcloud expands its footprint in Australia via the acquisition of MODA Creatives
  26. ↑ "S'pore-based influencer agency Gushcloud International raises $15m". The New Paper. 2019-09-19. Retrieved 2019-09-24.
  27. ↑ "Gushcloud raises $11 million amid growth in influencer marketing". AsiaOne. 2019-09-19. Archived from the original on September 21, 2019. Retrieved 2019-09-24.
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