Qoo10 Acquires 'Wemakeprice'... "Building a Global E-commerce Ecosystem"
Acquisition of All Wemakeprice Shares... Securing Management Rights and Mobile App Ownership
Tmon Strengthens Organic Integration Following Interpark Commerce and Wemakeprice
Aiming to Build a 'Global E-commerce Ecosystem'
E-commerce company Qoo10 has acquired the management rights of Wemakeprice (WEMAKEPRICE). This marks the third domestic e-commerce company acquisition following TMON and Interpark Commerce. Koo Young-bae, CEO of Qoo10 and the creator of Gmarket, is rising again as a key figure in the domestic e-commerce market.
On the 6th, Qoo10 announced that it had acquired all shares of Wemakeprice held by Wonder Holdings and signed a contract to obtain management rights and mobile app ownership of Wemakeprice. Kim Hyo-jong, Head of Management Support at Qoo10, was appointed as the new CEO.
Qoo10 plans to apply the successful strategy proven through the acquisition of TMON to Wemakeprice and enhance synergy among group companies. The company aims to add new growth drivers to Wemakeprice and strengthen organic integration among affiliates such as TMON and Interpark Commerce. In particular, based on Qoo10’s global commerce capabilities and infrastructure, the goal is to build a "global e-commerce ecosystem."
After acquiring management rights, TMON’s transaction volume in the fourth quarter of last year increased by 60% compared to the same period the previous year, and in the first quarter of this year, it grew by nearly 70% year-over-year, proving synergy with Qoo10. This model will be applied not only to Interpark Commerce but also to Wemakeprice to enhance the competitiveness and growth of the entire group. It is expected that sharing and maximizing the strengths and know-how of each affiliate?TMON, Wemakeprice, Interpark Commerce, and global commerce Qoo10?will foster new growth and development.
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Additionally, Qoo10 connects competitive overseas sellers it possesses to domestic platforms and supports fast and stable delivery by utilizing logistics bases in 19 locations across 11 countries owned by its logistics affiliate, Qxpress. A Qoo10 representative stated, "We plan to build a win-win ecosystem that grows together by providing new business opportunities to domestic sellers and differentiated consumption experiences to consumers."
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