Memebox raises funds for Chinese expansion

Memebox raises funds for Chinese expansion

South Korean online retailer Memebox has its sights firmly set on developing its brand in the Chinese market thanks to a cool $66 million funding boost from previous investors such as Formation 8, Goodwater Capital and Pejman Mar Ventures.

With South Korea and China accounting for more than half of the company’s revenue, Memebox is forging a loyal following of online consumers. Indeed, the company has over 1200 Korean products on its site, a draw for Chinese customers who are lapping up the K Beauty trend.

It isn’t the first time the company has drawn on investors, with Memebox raising $29million from investors last year, taking it to a $100 million valuation.

Leave a reply

Your email address will not be published. Required fields are marked *