Company:Qoo10

From HandWiki
Qoo10
FormerlyGmarket
IndustryInternet
Founded2010
FounderKu Young Bae[1][2]
Area served
Singapore, Malaysia, Indonesia, Hong Kong, China
Key people
Ku Young Bae
(Chairman and CEO)
ProductsE-commerce
ServicesOnline shopping
Number of employees
650 (September 2018)[citation needed]
ParentQoo10 Pvt. Ltd.
Websitewww.qoo10.sg

www.qoo10.my
www.qoo10.co.id
www.qoo10.cn
www.qoo10.hk

www.qoo10.com

Qoo10 is a Southeast Asian e-commerce platform, formerly known as GMarket, headquartered in Singapore.[3][4] It operates localized online marketplaces across Singapore, Indonesia, Malaysia, China , and Hong Kong, and on one international online marketplace. It optimizes its platform and services for small and medium enterprise merchants.[5]

History

Qoo10 was founded as a subsidiary of Qoo10 Pvt. Ltd., in 2010 by Giosis Pvt. Ltd.[6][1], a joint venture between Gmarket founder Ku Young Bae and eBay.[citation needed]

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[7][8][9]

In May 2010, Giosis Pvt. Ltd. was established as a joint venture between Ku and eBay to further develop Singapore and Japan marketplaces, and expand in the region[10][11][12]

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[13]

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[14][15][16] 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.[14][15][16]

In April 2018, eBay completes acquisition of Giosis Private Limited and its Japan properties, including Qoo10.jp, which will operate independently from other Qoo10 sites.[17][18][19] eBay relinquishes its stakes in Giosis' non-Japanese businesses, which are moved under newly established parent company, Qoo10 Pvt. Ltd.

Awards and recognition

  • Qoo10 was named as the “Best Online Retailer” at AsiaOne’s People Choices Awards, 2015 & 2016.[20][21]
  • In January 2016, Qoo10 was ranked 4th among 259 local and global brands with the most positive image, just after Singapore Airlines, Apple iPhone and WhatsApp.[22]
  • In 2016, Qoo10 was voted “Best Electronics Shopping Portal” at Tech Awards 2016 organized by Singaporean tech magazine HWM and HardwareZone.[23]
  • In 2017, CGS-CIMB and Euromonitor statistics figured Qoo10 Singapore captured 32.6% of market share in Singapore's e-commerce market.[5][24]
  • Data insights from metasearch engine iPrice showed that Qoo10 consistently holds the top spot for monthly user visits among e-commerce platforms in Singapore.[25][26]

References

  1. ↑ 1.0 1.1 "Giosis | Crunchbase" (in en). https://www.crunchbase.com/organization/giosis. 
  2. ↑ "eBay and Gmarket Founder Plan Asia Expansion Through Joint Venture" (in en-US). May 6, 2010. https://www.ebayinc.com/stories/news/ebay-and-gmarket-founder-plan-asia-expansion-through-joint-venture/. 
  3. ↑ "Qoo10" (in en-US). Crunchbase. https://www.crunchbase.com/organization/qoo10-japanese#section-overview. 
  4. ↑ "EBay Is Close to $700 Million Deal for Qoo10's Japan Assets" (in en-US). Bloomberg. https://www.bloomberg.com/news/articles/2018-02-26/ebay-is-said-close-to-700-million-deal-for-qoo10-s-japan-assets. 
  5. ↑ 5.0 5.1 "Can Qoo10 maintain its dominance in Singapore's e-commerce market?". Singapore Business Review. June 14, 2018. https://sbr.com.sg/retail/in-focus/can-qoo10-maintain-its-dominance-in-singapores-e-commerce-market. 
  6. ↑ "Company Overview of Giosis Pte. Ltd." (in en-US). Bloomberg. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=113796866. 
  7. ↑ So-eui, Rhee (April 16, 2009). "EBay to buy S.Korea's Gmarket for up to $1.2 billion" (in en-US). Reuters. https://www.reuters.com/article/us-gmarket-ebay/ebay-to-buy-s-koreas-gmarket-for-up-to-1-2-billion-idUSTRE53F0PI20090416. 
  8. ↑ Shankland, Stephen (April 16, 2009). "eBay buying out Gmarket, as Yahoo exits" (in en). CNET. https://www.cnet.com/news/ebay-buying-out-gmarket-as-yahoo-exits/. 
  9. ↑ Kim, Hyun-cheol (April 16, 2009). "eBay to Take Over Gmarket for $1.2 Billion" (in en). The Korea Times. http://www.koreatimes.co.kr/www/news/biz/2009/04/123_43301.html. 
  10. ↑ Bass, Dina (May 7, 2010). "EBay, Gmarket's Ku in Japan, Singapore Joint Venture". http://www.bloomberg.com/news/articles/2010-05-06/ebay-gmarket-founder-young-bae-ku-create-japan-singapore-joint-venture. Retrieved September 19, 2018. 
  11. ↑ Rao, Leena (May 6, 2010). "eBay Partners With Gmarket Founder For $20 Million Expansion Into Japan And Singapore" (in en-US). TechCrunch. https://techcrunch.com/2010/05/06/ebay-partners-with-gmarket-founder-for-20-million-expansion-into-japan-and-singapore/. 
  12. ↑ "eBay and Gmarket Founder Plan Asia Expansion Through Joint Venture" (in en-US). May 6, 2010. https://www.ebayinc.com/stories/news/ebay-and-gmarket-founder-plan-asia-expansion-through-joint-venture/. 
  13. ↑ Wee, Willis (April 17, 2012). "Gmarket Singapore, Japan, Malaysia, and Indonesia to Rebrand to Qoo10". https://www.techinasia.com/gmarket-rebranded-to-qoo10. 
  14. ↑ 14.0 14.1 Karekar, Rupali (July 23, 2015). "SPH leads group investing $112m in Qoo10". http://www.straitstimes.com/business/companies-markets/sph-leads-group-investing-112m-in-qoo10. Retrieved September 19, 2018. 
  15. ↑ 15.0 15.1 Freischlad, Nadine (July 22, 2015). "Ecommerce site Qoo10 locks up $82M in series A funding". https://www.techinasia.com/qoo10-series-a-funding. 
  16. ↑ 16.0 16.1 Shu, Catherine (July 23, 2015). "Ebay-Backed, Asian E-Commerce Company Giosis Lands $82.1M Series A" (in en-US). TechCrunch. https://techcrunch.com/2015/07/23/giosis-seriesa/. 
  17. ↑ Dastin, Jeffrey (February 28, 2018). "EBay to buy Qoo10 Japan, other assets from Giosis" (in en-US). Reuters. https://www.reuters.com/article/us-giosis-japan-ebay/ebay-to-buy-qoo10-japan-other-assets-from-giosis-idUSKCN1GB36C. 
  18. ↑ Smith, Jake (February 28, 2018). "eBay acquires Qoo10 Japan e-commerce platform | ZDNet" (in en). ZDNet. https://www.zdnet.com/article/ebay-acquires-giosis-japan-business/. 
  19. ↑ "eBay completes Qoo10 acquisition" (in en-US). Inside Retail Asia. July 23, 2018. https://insideretail.asia/2018/07/23/ebay-completes-qoo10-acquisition/. 
  20. ↑ "Qoo10 named best online retailer at AsiaOne PCA 2015". http://women.asiaone.com/women/shopping/qoo10-named-best-online-retailer-asiaone-pca-2015. Retrieved June 17, 2016. 
  21. ↑ "Agoda, POSB and Qoo10 among top winners at AsiaOne People's Choice Awards 2016". April 21, 2016. http://www.straitstimes.com/singapore/agoda-posb-and-qoo10-among-top-winners-at-asiaone-peoples-choice-awards-2016. Retrieved September 19, 2018. 
  22. ↑ Lin, Melissa (January 15, 2016). "Singapore Airlines tops brand image survey". http://www.straitstimes.com/singapore/singapore-airlines-tops-brand-image-survey. Retrieved September 19, 2018. 
  23. ↑ Krishna Moorthy, Prabu (February 25, 2016). "Qoo10 voted 'Best Electronics Shopping Portal' at Tech Awards 2016". http://digital.asiaone.com/digital/news/qoo10-voted-best-electronics-shopping-portal-tech-awards-2016. Retrieved September 19, 2018. 
  24. ↑ "Chart of the Day: Qoo10 beats Amazon and Apple in Singapore's e-commerce market". Singapore Business Review. June 4, 2018. https://sbr.com.sg/retail/news/chart-day-qoo10-beats-amazon-and-apple-in-singapores-e-commerce-market. 
  25. ↑ "The Map of E-commerce in Singapore" (in en). https://iprice.sg/insights/mapofecommerce/. 
  26. ↑ Shi Wei, Neo (April 23, 2018). "Qoo10 takes e-commerce fight to next level with bulked-up war chest" (in en). The Business Times. https://www.businesstimes.com.sg/technology/qoo10-takes-e-commerce-fight-to-next-level-with-bulked-up-war-chest. 

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