E-commerce ecosystem: Qoo10, Interpark, Tmon and WMP
The e-commerce platform Qoo10 has acquired management rights from WMP(we make price inc.) by purchasing all of WMP's shares and entering into an agreement with WMP management for rights and ownership of mobile apps. This marks Qoo10's third acquisition of a domestic e-commerce company, following TMON and INTERPARK.
Founded in Singapore in 2010 as a joint venture between the founder of G market and eBay, Qoo10 currently operates in six countries: Singapore, Japan, Indonesia, Malaysia, China, and Hong Kong. It is the number one online shopping mall in Singapore and the fourth in Japan.
Incresing synergy between group companies
Qoo10 plans to apply the same methods used with TMON to WMF, aiming to increase synergy between group companies and add new growth engines to WMF. The ultimate goal is to build a global e-commerce ecosystem based on Qoo10's global commerce capabilities and infrastructure, creating an open market that unites East Asia. To this end, Qoo10 is also running a specialized logistics company that connects Q10's overseas sellers to domestic platforms, utilizing logistics bases in 19 regions across 11 countries owned by Qxpress, a logistics affiliate. This presents a new business opportunity for domestic sellers, a differentiated consumption experience for consumers, and a policy to establish itself as a win-win ecosystem that grows together with everyone.
Some analysts say this isn't as a move to take the domestic market, but rather as a means to prepare for Qxpress' NASDAQ listing and strengthen global competitiveness. This suggests that the purpose is to achieve a favorable evaluation in preparation for listing, rather than a desire to increase e-commerce influence in the Korean market.
댓글