Beauty start-up company Meme box said it had attracted $65 million 950 thousand (about 73 billion won) investment (Series C round) from the global professional VC firm Formation, Goodwater and other companies.
Due to this investment, Meme box cumulatively received $100 million (about 110 billion 500 million won) investment. Based on the investment, Meme box plans to commit to investing in mobile communications technology, data infrastructure and global network.
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Representative of Meme box He Hengxi (transliteration) said, “It’s very rare a start-up company attracts 1 billion investment from Silicon Valley “, “Since four and half years ago Meme box founded, communication technology, cosmetics, foreign industry has been a sunrise industry, I think this is the reason we can successfully bring the massive investment”.
Representative of Formation Brian Koo said, “Meme box is good at communication technology, for beauty company, it has made new definition of operation method to meet recently consumer’s demand for high quality products “, “Meme box suggests the future of consumer brand revolution that using digital activities “. He also made further explanation to the background of investment, “Compared to the company without using network, Meme box’s strengths is flexible use of data and technology. This advantage makes women around the world continue to love the Meme box products “.
