Yahoo! is going to acquire 10% stake in Gmarket from Oak Investment Partners. Oak is a multi-stage venture capital firm.


Yahoo! is going to acquire 10% stake in Gmarket from Oak Investment Partners. Oak is a multi-stage venture capital firm.

Gmarket is an e-commerce provider in Korea.

Young Bae Ku, CEO of Gmarket, said: “In connection with Yahoo!’s investment, we have agreed with Yahoo! to seek ways to implement various strategic initiatives internationally and in Korea”. [source]

Nakyang Seong, head of Yahoo Korea, said: “Upon completion of the investment, Yahoo! Korea and Gmarket will actively cooperate to pursue broader opportunities in the Korean market while respecting other partners”. [source]

To read the press release, click here.

To visit Yahoo website, click here.

To visit Oak Investmet website, click here.

 

 

 

 

 

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