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Singapore's Qoo10 raises $82.1m Series A

  • Holden Mann
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Singapore-based Giosis, which manages e-commerce site Qoo10, has raised $82.1 million in a Series A round led by Singapore Press Holdings (SPH).

Giosis is a subsidiary of eBay, which participated in this round, along with Saban Capital Group, UVM 2 Venture Investments, Brookside Capital and Oak Investment Partners.

The company, which claims to have over 17 million registered users across Asia, will use the new funding to add additional infrastructure and acquire talent. It will also collaborate with SPH on content and advertising, according to a release.

Qoo10 launched in 2010 as a joint venture between eBay and Ku Young Bae, the founder of Gmarket; eBay acquired Gmarket in 2009. The company manages six e-commerce marketplaces, in Japan, Singapore, Indonesia, Malaysia, Hong Kong and China.

SPH operates newspapers, magazines and publishing houses, along with radio stations, a digital advertising firm, and a chain of convenience stores. It has made a number of media-related investments in Asia, including $2.5 million for online restaurant platform Chope and a Kalaari-led $10 million round for digital newsstand Magzter.

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