[THE INVESTOR] Korean media commerce startup Blank, which deals in lifestyle related products via video contents, is seeking to get listed on the secondary bourse KOSDAQ next year, according to industry sources on Jan. 13.
The firm aims to launch an initial public offering. It was launched as Blank TV in 2016 and later renamed as Blank.
Sources noted that it has already sent a request for proposals to local stock firms to select a manager for the IPO.
Market watchers are paying keen attention to the market value of the new startup. It was valued at less than 100 billion won (US$89.08 million) in 2017, but rose to around 300 billion won last year. This company attracted total 40 billion won private capital in the past two years. Soft Bank Ventures invested 10 billion won in 2017, while SBI Investment and Union Investment Partners invested 30 billion won in 2018.
Blank provides a business model which connects the products with video contents that show the process of how they are planned and advertised. Its marketing skills also draw the products’ popularity, interacting with consumers directly through reciprocal feedback. The venture owns lifestyle brands such as male cosmetics brand Black Monster, dermocosmetics brand Dr. Wonder and household goods brand Bodyluv.
By Yoon Yeun-jung (email@example.com)