Qoo10
Japanese B2C and C2C e-commerce marketplace.
| Date | Investors | Amount | Round |
|---|---|---|---|
KRW30.0b | Late VC | ||
| Total Funding | 000k | ||
Qoo10 Japan operates as an e-commerce platform within Japan, currently owned and managed by eBay. The platform's genesis traces back to Gmarket, an e-commerce company founded in South Korea in 2000 by Ku Young Bae. After selling Gmarket to eBay in 2009, Ku entered into a joint venture with eBay in 2010 to form Giosis Pte. Ltd., which established marketplaces across Asia, including Japan. These marketplaces were rebranded as Qoo10 in 2012. A significant milestone occurred in 2018 when eBay acquired full ownership of Giosis's Japan business, including the Qoo10.jp platform, for approximately $573 million. Following this acquisition, eBay Japan has operated Qoo10.jp independently from the other Qoo10 entities in Asia.
The business operates on a hybrid B2C and C2C marketplace model, connecting a wide range of sellers, from small enterprises to larger businesses, directly with consumers. This structure allows for a vast and diverse product inventory. Revenue is primarily generated through commissions on transactions and fees paid by sellers. The platform provides sellers with a suite of tools to manage their own inventory, sales, and marketing processes. A key part of Qoo10 Japan's strategy involves localization, tailoring the user experience, marketing campaigns, and customer support to Japanese consumer preferences.
Qoo10 Japan's product is an online marketplace known for its exceptionally wide range of goods, including fashion, electronics, home goods, and notably, Korean cosmetics and pop culture items. This focus on K-beauty products has been a significant driver of its growth, particularly attracting a younger demographic. The platform's target audience is predominantly young women, with users aged 10-30 comprising a substantial portion of its customer base. To engage these cost-conscious shoppers, the platform frequently employs promotions like coupon events, time-limited discounts, and large-scale sales events such as "Megawari," which has proven highly successful in driving transactions.
Keywords: e-commerce platform, online marketplace, Japan e-commerce, B2C, C2C, marketplace model, Korean cosmetics, K-beauty, Japanese consumer market, fashion retail, youth marketing, online shopping, cross-border trade, eBay Japan, Gmarket, Ku Young Bae, digital retail, consumer electronics, online sales promotions