Naver's 'Cream' Secures 100 Billion KRW Investment

[Asia Economy Reporter Buaeri] The limited edition resale platform 'KREAM' announced on the 14th that it has secured an investment worth 100 billion KRW.

The investors participating in this round include Altos Ventures, SoftBank Ventures, and Mirae Asset Capital.

KREAM raised 20 billion KRW in investment last March and successfully secured additional funding from existing investors within six months. The cumulative investment amount now totals 140 billion KRW.

KREAM is a platform launched by Snow, a subsidiary of Naver, and spun off last year to become an independent corporation.

Within just one and a half years since its service launch, KREAM has established itself as the number one platform in the sneaker resale market. Monthly transaction volume has grown more than fivefold compared to the previous year. The number of registered users has surpassed 1.6 million, with members in their 20s and 30s accounting for 80% of the total.

Kim Chang-wook, CEO of KREAM, said, "Through this investment, we will enhance our transaction model and provide differentiated services to users, enabling anyone to trade limited edition products easily and comfortably. We will also focus on recruiting talent to expand new categories, target markets, and enter overseas markets."

This content was produced with the assistance of AI translation services.