(image: Market Kurly)
SEOUL, July 9 (Korea Bizwire) — South Korean online grocery delivery platform Market Kurly has attracted 225.4 billion won (US$196 million) in new investments and is seeking to make a domestic stock market debut, its operator said Friday.
Kurly said global asset manager Millennium Management and local logistics giant CJ Logistics Co. have made new investments on top of existing investors, such as Aspex Management of Hong Kong and Sequoia Capital China.
The new investments came about one year after Market Kurly lured domestic and foreign investors for the fifth time.
Kurly said investors have estimated the corporate value of Market Kurly at 2.5 trillion won this time, up 2.6 times from that about a year ago, thanks to its growth potential.
Kurly said its sales more than doubled to 953 billion won in 2020 from a year earlier, with the number of its customers exceeding 8 million as of the end of May.
Nearly 30 percent of all goods are composed of private-brand products or items that can be bought only at Market Kurly.
Kurly said the new investment will be spent on developing technologies and boosting its infrastructure.
In March, Market Kurly said it decided to go public within this year and is exploring whether to make an initial public offering (IPO) at home or in the United States.
(Yonhap)
