Chat with us, powered by LiveChat
KoreaTech Today - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTech Today - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Uncategorized

Memebox got $35.2M USD (39.5 billion won) invest from Johnson & Johnson VC

 390 total views,  1 views today

KoreaTechToday Editor by KoreaTechToday Editor
PUBLISHED: January 25, 2019 UPDATED: March 5, 2020
in Uncategorized
0
Memebox got $35.2M USD (39.5 billion won) invest from Johnson & Johnson VC

UPDATE:

In late November of 2019, Memebox announced that it rebranded as MBX, naming a new executive team to lead the company.

MBX named beauty industry veteran Allison Slater Ray as the new company president, continuing the advancement of customized beauty products. With over 20 years of experience in cosmetics, Ray expressed her excitement in joining MBX as the company’s data-driven approach to bringing distinct and creative brands is incredibly modern and filled with opportunity.

MBX also appointed Hari Seshadri as the new MBX Chief Financial Officer, Marshall Chang as the company’s new Supply Chain Management vice president, Tyler An as APAC’s CSO/head, and Shawn Park as the new creative director.

Meanwhile, in early December, MBX launched a fresh skincare brand with Sephora, a US-based multi-brand cosmetics provider. The new brand uses authentic, vegan ingredients from Korea, adding that it will only use eco-friendly materials for its product packaging.

ORIGINAL:

Memebox, the beauty commerce platform, has attracted $35.2M USD (39.5 billion won) in series D investment from Johnson & Johnson Development Corporation (JJJDC).

Johnson & Johnson is the eighth-largest U.S. company based on market capitalization (about 242.4 billion dollars), and is a strong leader in pharmaceutical, medical, cosmetics and consumer goods. In addition, the company operates investment programs such as JJ Innovation and J Labs, as well as JJDC Venture Capital, which finds promising startups and invests in stocks.

 

johnson and johnson logo에 대한 이미지 검색결과

 

This investment is the first strategic investment that Memebox attracted and JJDC noted that Memebox revolutionized current beauty industry through data-based customer-centric thinking. The two companies will explore strategic synergies in a variety of ways by combining Johnson & Johnson’s global business capabilities and R&D technology, consumer insight and quick execution capabilities of Memebox.

Memebox, a top U.S. startup accelerator in 2014, has earned a cumulative investment of $190M USD through the investment of JJDC. Formation groups other than JJDC, Goodwater Capital, and Altos Ventures are participating as major investors in Memebox. Along with best-selling brands such as I’M MEME and PONY EFFECT, Memebox has Kaja, nooni and Shineasyglam, (above are cosmetic brand from Memebox) and is diversifying its domestic and foreign portfolios as a K-beauty brand based on the nation’s latest cosmetics technology. In addition, it has continued to expand its global business since 2014, making overseas business a bigger part of it. In the future, Memebox plans to expand and strengthen its portfolio for each brand through cooperation with its investment, manufacturing and distribution partners in the digital sector.

memebox 제품에 대한 이미지 검색결과
pony effect, by MEMEBOX

“Memebox is planning to establish a next-generation brand by utilizing K-beauty’s technical skills. We will also work closely with strategic partners to introduce ‘cult products’ that pursue lifestyle beyond beauty. Memebox is a digital native brand that predicts consumers needs and provides products with a scientific approach. This investment will help Memebox to focus more on innovation and R&D, and ultimately approach global customers.

 

Ha hyung-seok. CEO of Memebox

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: cosmeticsKorean cosmeticskorean techMEMEBOXponyeffectshine easy glam

Related Posts

NCSoft establishes the ESG Management Committee to develop core management areas, becoming the first gaming company to employ ESG strategies. / photo courtesy of NCSoft
E-commerce

NCSoft Becomes First Gaming Company to Employ ESG Strategies

March 17, 2021
K-pop artists tracks backed by South Korea’s largest music distributor Kakao M became unavailable from Spotify due to licensing contract expiration.
Entertainment

Spotify Pulls Out K-Pop Music Provided by Kakao M

March 3, 2021
Hyundai Motor Group introduces the TIGER X-1, an intelligent uncrewed ultimate mobility concept vehicle for scientific exploration and terrain navigation. / photo vourtesy of Hyundai Motor
Automobile

Hyundai Introduces TIGER, an Intelligent Ultimate Mobility Vehicle

February 11, 2021
KCC investigates TikTok for security risks.
Korea Communications Commission

KCC Launches Investigation against TikTok Security Risks

December 31, 2019
Samsung Issues a Public Apology for Union Sabotage
Samsung

Samsung Issues a Public Apology for Union Sabotage

January 4, 2020
Korea Welcomes Mercedes-Benz’s EQC EV
Electric vehicle

Korea Welcomes Mercedes-Benz’s EQC EV

October 23, 2019

FREE NEWSLETTER

  • NAVER

  • Kakao

  • Nexon

  • Netmarble

  • Ncsoft

  • Samsung

  • Hyundai

  • SK

  • LG

  • KT

Trending posts

  • Carlyle Group Buys $200 Million Worth Shares of Kakao Mobility

     160 total views,  1 views today

  • South Korea Partners with Hyundai, LG, KST for EV Battery Reuse

     192 total views,  3 views today

  • South Korea to Unveil Prototype of First Developed Fighter Jet KF-X

     130 total views,  2 views today

  • LG, Luxoft Join Hands to Officially Launch Automotive Solution Alluto

     141 total views,  1 views today

  • Hanwha to Strengthen Future Space Industry Growth With ‘Space Hub’

     125 total views

  • Naver Affiliate LINE Games Secures 100 Bln Won from China Firm Tencent

     345 total views,  10 views today

  • Samsung Shuts Down Texas Semiconductor Plant Due to Winter Storms

     154 total views,  2 views today

  • Spotify Pulls Out K-Pop Music Provided by Kakao M

     116 total views,  1 views today

  • SK hynix Begins Mass-Producing Premium 18GB LPDDR5 mobile DRAM

     107 total views,  4 views today

  • Korean Startup Real Water’s Unique Solution to Keep Microplastics at Bay

     109 total views

  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2020 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2020 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |

Get the latest from the biggest tech companies in Korea straight to your email. Subscribe now!