KREAM Corporation Valuation, Funding & Investors
KREAM Corporation is valued at $920M as of December 2023.
Last KREAM Corporation valuation
$920M
Undisclosed stage · Dec 2023
Last KREAM Corporation funding round
$10M
Series A · Aug 2024
Cumulative funding KREAM Corporation raised
$337M
across 5 funding rounds
Key investors in KREAM Corporation
Altos Ventures
SBVA
Mirae Asset Capital
NAVER
Samsung Securities
Axiom Asia Private Capital
About KREAM Corporation
KREAM Corporation is a Seoul-based online marketplace specializing in authenticated resale of limited-edition sneakers, streetwear, and luxury goods using a bid-ask system with real-time dynamic pricing. Launched in South Korea, the platform verifies all items through expert authentication centers in Seoul and Shanghai, serving over 1 million users across Asia.
Founded
2020
HQ
GyeongjuWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$920M (Dec 2023)
KREAM Corporation Valuation
KREAM Corporation is currently valued at $920M, based on its undisclosed-stage round in December 2023.
The $38M round was led by Altos Ventures.
KREAM Corporation's valuation has grown 3.0x from $306M at its Series B in October 2021 to $920M in December 2023, across 3 priced rounds.
KREAM Corporation valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2023 | Undisclosed stage | $920M |
| Mar 2023 | Series C | $742M |
| Oct 2021 | Series B | $306M |
KREAM Corporation Funding History
KREAM Corporation has raised a total of $337M across 5 funding rounds.
KREAM Corporation's first fundraising round was a $35M Series A in March 2021. The most recent completed round was a $10M Series A in August 2024.
KREAM Corporation funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2024 | Series A | Mirae Asset Capital (lead) | $10M | - | - |
| Dec 2023 | Undisclosed stage | Altos Ventures (lead) | $38M | $920M | KREAM is a luxury resale platform owned by Naver that allows users to buy, sell, and trade luxury goods including handbags, clothing, and accessories. The platform operates primarily in Asia and had achieved significant traction, with monthly active users exceeding 5.3 million by late 2022 and gross merchandise value growth of 270% and 190% in Q3 and Q4 respectively year-over-year. Altos Ventures led KREAM's Series C round in March 2023, which raised $168 million at a post-money valuation of approximately $742 million. The company has been strategically investing in regional resale platforms across Asia, including Japan's Soda, Thailand's Sasom, and Malaysia's Shake Hands, with plans to interconnect these platforms to expand its ecosystem and user base across the continent. |
| Mar 2023 | Series C | Altos Ventures (lead); SBVA; NAVER; Axiom Asia Private Capital; Samsung Securities; Mirae Asset Capital | $168M | $742M | KREAM Corporation is a South Korean luxury resale marketplace specializing in authentic limited-edition sneakers, streetwear, handbags, clothing, and accessories, operating as a C2C platform for buying, selling, and trading. Spun off from Naver's Snow in January 2021 and later owned by Naver, it focuses on the growing luxury fashion resale market in Asia. In March 2023, KREAM raised $168 million (220.6 billion won) in a Series C round led by Altos Ventures, with participation from Naver, SoftBank Ventures Asia (SBVA), Mirae Asset Capital, Samsung Securities, and Axiom Asia Private Capital. This round valued the company at $742 million post-money, more than doubling its previous $306 million valuation from October 2021. The funding came amid strong growth, with monthly active users more than doubling to 5.3 million from 2.2 million in October 2022, and gross merchandise value increasing 270% in Q3 2022 and 190% in Q4 2022 year-over-year. KREAM plans to use the proceeds for expansion in Asia, increasing headcount, enhancing offerings, and making strategic minority investments in regional peers like Japan's Soda, Thailand's Sasom, Malaysia's Shake Hands and SneakerLah, and Singapore's Quista Technology. These moves aim to connect Asia-based resale platforms for cross-border luxury goods trading. KREAM has raised over $266 million total across multiple rounds and achieved $1 billion in gross merchandise value faster than e-commerce giant Coupang. Operating in a burgeoning circular economy sector addressing fast fashion's environmental impact, it competes in a market that saw over $2 billion in venture funding for secondhand retail in 2022. Post-Series C, KREAM continued fundraising, including a Series C-IV for $38.73 million in December 2023 from Altos Ventures, bringing total funding to $457.46 million over seven rounds, and announced a merger with Japan's Soda in late 2023. |
| Oct 2021 | Series B | Altos Ventures (lead); SBVA; Mirae Asset Capital | $85M | $306M | KREAM Corporation is a South Korean luxury resale platform that enables users to buy, sell, and trade high-end goods such as handbags, clothing, accessories, and sneakers. Spun off from Snow, a Naver subsidiary, in January 2021, it operates as a C2C marketplace focused on the growing secondhand luxury fashion sector. The October 2021 round, valued at $306 million post-money, preceded its Series C in March 2023, which raised $168 million (220.6 billion won) at $742 million valuation led by Altos Ventures with participation from Naver, SoftBank Ventures Asia (SBVA), Mirae Asset Capital, Samsung Securities, and Axiom Asia. Kream had raised over $266 million by early 2023 across multiple rounds. At that time, KREAM reported 2.2 million monthly active users, which later doubled to 5.3 million by March 2023, alongside gross merchandise value (GMV) growth of 270% in Q3 2022 and 190% in Q4 2022 year-over-year, with over 290,000 items listed. KREAM positions itself in the luxury resale market, projected to grow 10-15% annually from a $30 billion base in 2020 per McKinsey, amid a circular economy trend reducing fast-fashion emissions. It has pursued strategic minority investments in Asian peers like Japan’s Soda, Thailand’s Sasom, and Malaysia’s Shake Hands to connect resale platforms regionally. Funds from later rounds supported such expansions, with total capital raised reaching $457 million across seven rounds by late 2023, including additional Series C tranches. |
| Mar 2021 | Series A | SBVA; Altos Ventures | $35M | - | KREAM Corporation is a South Korean C2C reselling platform for luxury goods, sneakers, watches, and collectibles, originally spun off from Naver's Snow subsidiary in January 2021. On March 24-25, 2021, it raised approximately $35.25 million in a Series A round led by investors including Altos Ventures and SBVA (SoftBank Ventures Asia). This was the company's first major independent funding after becoming standalone. Total funding across seven rounds reached $457.46 million by late 2023, with Altos Ventures participating in multiple rounds including Series A through Series C-IV. The company has pursued expansion through investments in Asian peers like Japan's Soda (49.7% stake acquisition planned) and others such as Thailand's Sasom and Malaysia's Shake Hands. Post-2021, KREAM continued raising capital, including later Series C extensions, and leveraged partnerships with investors like Naver, Mirae Asset Capital, and SoftBank to strengthen its position in the Asia-Pacific sneaker and luxury resale market, projected to grow substantially. |
Who has invested in KREAM Corporation?
6 investors have backed KREAM Corporation across its funding rounds, including Altos Ventures, SBVA, Mirae Asset Capital, NAVER, Samsung Securities and Axiom Asia Private Capital.
Lead investors include Mirae Asset Capital and Altos Ventures.
KREAM Corporation Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 San Francisco, CA | 4 | Lead | Mar 2021 | |
| Seoul | 3 | Participant | Mar 2021 | |
| Seoul | 3 | Lead | Oct 2021 | |
| Seongnam | 1 | Participant | Mar 2023 | |
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Start Free TrialAcquisitions by KREAM Corporation
KREAM Corporation has acquired 1 company to date.
Last acquisition by KREAM Corporation was on October 4th 2023. KREAM Corporation acquired SODA for $166M.
Latest Acquisitions by KREAM Corporation
| Description | SODA is a Tokyo-based software firm specializing in content management systems for media asset management. The platform handles video editing workflows, metadata tagging, and multi-channel distribution for broadcasters and agencies. SODA integrates with Adobe Premiere and AWS S3 for scalable storage. Serving Japanese television networks, the company supports 4K/8K content pipelines and AI-driven search capabilities. |
| HQ Country |  |
| HQ City | Hachioji |
| Deal Date | 4 Oct 2023 |
| Valuation | $166M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all KREAM Corporation acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by KREAM Corporation
KREAM Corporation has invested in 6 companies to date.
Latest investment by KREAM Corporation was on September 21st 2022. KREAM Corporation invested in blank. in their $14M Series B round.
Latest Investments by KREAM Corporation
| Description | blank. is a South Korea-based media commerce platform retailing beauty products through integrated online channels. It curates skincare, makeup, and wellness items with features for discovery, reviews, and direct purchases via its digital storefront. | SASOM is a Bangkok-based e-commerce platform specializing in premium lifestyle products for the Thai market. The service curates offerings in fashion, beauty, accessories, home decor, and gourmet foods from luxury brands, delivered nationwide through its app and website. Launched in 2020, SASOM partners with over 200 international and local designers, providing flash sales, exclusive drops, and personalized recommendations powered by AI-driven algorithms. | blank. is a South Korea-based media commerce platform retailing beauty products through integrated online channels. It curates skincare, makeup, and wellness items with features for discovery, reviews, and direct purchases via its digital storefront. | SneakerLah is a Singapore-based marketplace trading new and pre-owned sneakers and footwear. The platform connects buyers and sellers of limited-edition pairs from Jordan, Yeezy, and other hype brands. SneakerLah provides authentication services and secure transactions for the local sneaker community. | |
| HQ Country | |  | |  | |
| HQ City | Seoul | Bangkok | Seoul | Kuala Lumpur | |
| Deal Date | 21 Sep 2022 | 31 Aug 2022 | 23 Aug 2022 | 19 Jul 2022 | |
| Round | Series B | Series A | Seed | Strategic investment | |
| Raised | $14M | $2M | $2M | $2M | |
| Investors | LOTTE HOTELS & RESORTS | - | - | - | |
| Valuation | undisclosed | undisclosed | undisclosed | $8M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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KREAM Corporation Competitors
KREAM Corporation competitors include listed companies like Nextdoor and ATRenew, and private ones like Otrium, Good Choice Company, DocPlanner and Fresha.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Amsterdam | Private | - | - | $900M | - | |
| United States | Publicly listed | $258M | ($69M) | $959M | 2.2x | |
 China | Publicly listed | $3.1B | $84M | $873M | 0.2x | |
| Seoul | Private | - | - | $972M | - | |
 Warsaw | Private | - | - | $1B | - | |
 London | Private | - | - | $1B | - |
KREAM Corporation Public Comps
KREAM Corporation is still privately-owned, but its public comps include Web Travel Group, Trainline, UT Group, Nextdoor, ATRenew, Ibotta, Timee, SMZDM.com, QuinStreet and Grupa Pracuj.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $280M | $86M | 2.7x | 2.6x | 8.8x | 7.0x | |||
| $608M | $221M | 1.9x | 1.9x | 5.3x | 4.8x | |||
| $1.1B | $82M | 0.7x | 0.7x | 9.4x | 9.2x | |||
| $258M | ($69M) | 2.4x | 2.2x | (8.8x) | 27.8x | |||
| $3.1B | $84M | 0.2x | 0.2x | 8.2x | 6.6x | |||
| $342M | $7M | 2.5x | 2.4x | 114.9x | 15.3x | |||
| $132M | $23M | 6.3x | 2.8x | 36.0x | 13.5x | |||
| $192M | $19M | 4.9x | 4.7x | 47.8x | 42.1x | |||
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Common questions about KREAM Corporation
| When was KREAM Corporation founded? | KREAM Corporation was founded in 2020. |
| Where is KREAM Corporation headquartered? | KREAM Corporation is headquartered in Gyeongju, South Korea. |
| Is KREAM Corporation publicly listed? | No, KREAM Corporation is a private, VC-backed company. |
| What is KREAM Corporation's valuation? | KREAM Corporation was last valued at $920M in its undisclosed-stage round in December 2023. |
| How much funding has KREAM Corporation raised? | KREAM Corporation has raised $337M across 5 funding rounds. |
| What was KREAM Corporation's last funding round? | KREAM Corporation's last funding round was a $10M Series A in August 2024, led by Mirae Asset Capital. |
| Who are KREAM Corporation's investors? | KREAM Corporation's investors include Altos Ventures, SBVA, Mirae Asset Capital, NAVER, Axiom Asia Private Capital and Samsung Securities. |
| Which companies are comparable to KREAM Corporation? | Companies comparable to KREAM Corporation include Otrium, Nextdoor, ATRenew, Good Choice Company, DocPlanner and Fresha. |
| How many companies has KREAM Corporation acquired? | KREAM Corporation has acquired 1 company, including SODA. |
| What was the largest acquisition by KREAM Corporation? | The $166M acquisition of SODA in October 2023 is the largest acquisition KREAM Corporation has made to date. |
| How many companies has KREAM Corporation invested in? | KREAM Corporation has invested in 6 companies, including blank., SASOM, SneakerLah, Craving Collector, Reebelo and SODA. |
| What was KREAM Corporation's last investment? | In September 2022, KREAM Corporation invested in blank.'s $14M Series B alongside LOTTE HOTELS & RESORTS. |
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