WeMakePrice Acquisition, Valuation, Funding & Investors

WeMakePrice was acquired by Qoo10 in April 2023.

WeMakePrice acquisition price

Undisclosed

Acquired by Qoo10 · Apr 2023

WeMakePrice revenue

$164M

Series D · Aug 2015

Cumulative funding WeMakePrice raised

$402M

across 3 funding rounds

Key investors in WeMakePrice

WeMakePrice Overview

About WeMakePrice

WeMakePrice is a Seoul-based social commerce platform that delivers e-commerce and internet advertising services since its May 2010 launch. Known as 위메프 in Korea, it facilitates flash sales and group buying deals across fashion, beauty, travel, and daily necessities. The platform connects millions of users with merchants through time-limited promotions and targeted ads, establishing a strong position in the Korean online discount market.


Founded

2010

HQ

South KoreaSeoul

Status

Acquired

Customer focus

B2C

Revenue model

Commission

Revenue

$164M (Aug 2015)

Valuation

$2.1B (Dec 2019)

WeMakePrice Acquisition

WeMakePrice was acquired by Qoo10 for an undisclosed price on 7 April 2023.

Before the acquisition WeMakePrice had raised $402M across 3 funding rounds.

WeMakePrice acquisition details
AcquirerDateType
  • Qoo10
7 Apr 2023Strategic M&A

WeMakePrice Valuation

WeMakePrice is currently valued at $2.1B, based on its undisclosed-stage round in December 2019.

The $102M round was led by IMM Investment.

WeMakePrice's valuation has grown 2.5x from $849M at its Series D in August 2015 to $2.1B in December 2019, across 3 priced rounds.

WeMakePrice valuation by funding round

Revenue multiple
WeMakePrice valuation by funding round
DateStageValuationRevenue Multiple
Dec 2019Undisclosed stage$2.1B-
Sep 2019Series D$2.1B-
Aug 2015Series D$849M5.2x

WeMakePrice Revenue

WeMakePrice's latest recorded revenue is $164M, as of its Series D in August 2015. At a $849M valuation, that implies a 5.2x revenue multiple.

WeMakePrice revenue by funding round

WeMakePrice revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Aug 2015$164M$849M5.2xSeries D

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

WeMakePrice Funding History

WeMakePrice has raised a total of $402M across 3 funding rounds.

WeMakePrice's first fundraising round was a $90M Series D in August 2015. The most recent completed round was a $102M undisclosed-stage round in December 2019.

WeMakePrice funding rounds

WeMakePrice funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2019Undisclosed stageIMM Investment (lead)$102M$2.1BWeMakePrice, a cash-strapped South Korean e-commerce startup specializing in daily deals and group buying, secured 120 billion won (approximately $100-102 million) in funding from IMM Investment in December 2019. This investment led by IMM valued the company at 2.5 trillion won post-money, a significant increase from its 1 trillion won valuation in 2015. The funds were intended to shore up its finances amid operational challenges. The round marked a key lifeline for WeMakePrice, which had been struggling with financial pressures typical in the competitive e-commerce sector. IMM Investment's involvement as the lead underscores confidence in the platform's potential recovery. The valuation jump reflects investor optimism despite prior difficulties, positioning WeMakePrice for potential growth in Korea's online marketplace.
Sep 2019Series DNEXON (lead)$209M$2.1BIn 2019, Nexon invested 350 billion won ($265.3 million) in Wonder Holdings, with WeMakePrice receiving 250 billion won of that investment. WeMakePrice was one of the first-generation e-commerce companies in South Korea during the 2010s, competing alongside platforms like Coupang and TMON. The company raised 120 billion won ($100 million) in December 2019 to shore up its finances as a cash-strapped e-commerce startup. Despite these investments, WeMakePrice subsequently struggled with severe competition in the domestic market and performance deterioration, eventually leading to its acquisition by Qoo10 in 2023.
Aug 2015Series DNEXON (lead); IMM Investment$90M$849MWeMakePrice, a South Korean social commerce and e-commerce platform, received a 100 billion won investment from NXC (Nexon holding company) in August 2015, with Nexon as the lead investor and IMM Investment also involved, valuing the company at 1 trillion won. This round helped position WeMakePrice in the competitive Korean e-commerce market against rivals like Coupang and TMON. The investment was part of NXC's diversification strategy beyond gaming. Later, in December 2019, WeMakePrice raised additional funds including 120 billion won from IMM Investment and 350 billion from NXC, increasing valuation to around 2.5-2.8 trillion won. The company reported sales of 429.4 billion won in 2018 but operating losses, with monthly transaction volume exceeding 500 billion won by July 2018. Shareholders like Wonder Holdings, NXC, and IMM sought exits amid ongoing losses, leading to later acquisition talks with Qoo10.

Who has invested in WeMakePrice?

2 investors have backed WeMakePrice across its funding rounds, including IMM Investment and NEXON.

Lead investors include IMM Investment and NEXON.


WeMakePrice Investors

Investors in WeMakePrice by funding rounds participated
InvestorHQRoundsRoleFirst check

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WeMakePrice Competitors

WeMakePrice competitors include listed companies like Meesho and momo.com, and private ones like DealShare, Whop, Back Market and hOp.

Public and private companies comparable to WeMakePrice
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MeeshoIndiaIndiaPublicly listed$1.3B($143M)$10B6.3x
DealShareIndiaBangalorePrivate--$1.6B-
WhopUnited StatesNew York City, NYPrivate$142M-$1.6B11.3x
Back MarketFranceParisPrivate$227M-$5.7B-
hOpUnited StatesAustin, TXPrivate$20M-$2.1B106.3x
momo.comTaiwanTaiwanPublicly listed$3.4B$148M$2.1B0.6x

WeMakePrice Public Comps

WeMakePrice is no longer listed, but its public comps include momo.com, TX Group, Blibli, Visional, Ziff Davis, Polibeli Group, Lime, ACV Auctions, Modivo and Urban Company.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
momo.com$3.4B$148M0.6x0.6x13.2x12.2x
TX Group$1.1B$310M2.1x2.1x7.2x8.1x
Blibli$1.3B($83M)1.9x1.6x(28.2x)(21.5x)
Visional$515M$157M3.3x2.6x10.8x9.3x
Ziff Davis$1.5B$335M0.9x1.0x3.8x3.3x
Polibeli Group$26M($4M)76.5x-(495.5x)-
Lime$887M$87M2.2x-22.2x-
ACV Auctions$760M($19M)2.3x2.1x(89.6x)24.8x

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Common questions about WeMakePrice

When was WeMakePrice founded?WeMakePrice was founded in 2010.
Where is WeMakePrice headquartered?WeMakePrice is headquartered in Seoul, South Korea.
Is WeMakePrice publicly listed?No, WeMakePrice was acquired by Qoo10 in April 2023.
Who acquired WeMakePrice?WeMakePrice was acquired by Qoo10 in April 2023.
What is WeMakePrice's valuation?WeMakePrice was last valued at $2.1B in its undisclosed-stage round in December 2019.
How much funding has WeMakePrice raised?WeMakePrice has raised $402M across 3 funding rounds.
What was WeMakePrice's last funding round?WeMakePrice's last funding round was a $102M undisclosed-stage round in December 2019, led by IMM Investment.
Who are WeMakePrice's investors?WeMakePrice's investors include IMM Investment and NEXON.
What is WeMakePrice's revenue?WeMakePrice's latest recorded revenue is $164M (August 2015).
What is WeMakePrice's revenue multiple?WeMakePrice's latest valuation implies a 5.2x revenue multiple ($849M valuation on $164M of revenue).
Which companies are comparable to WeMakePrice?Companies comparable to WeMakePrice include Meesho, DealShare, Whop, Back Market, hOp and momo.com.

See companies similar to WeMakePrice

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