Gushcloud International
 | |
| Company type | Talent agency |
|---|---|
| Founded | 2011, Singapore |
| Founder | Althea Lim, Vincent Ha |
| Headquarters | Singapore |
Area served | Singapore, Malaysia, Indonesia, Thailand, Philippines, Korea, Vietnam, Japan, China, and USA. |
Number of employees | 300[1] (2019[1]) |
| Website | https://gushcloud.com |
Gushcloud International is a global influencer, entertainment, and talent acquisition company. It is headquartered in Singapore and began in 2011.[2][3]
History
[edit]Althea Lim and Vincent Ha are the co-founders of Gushcloud International,[4] which has offices in Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, South Korea, Japan, and the US, and 300+ employees.[5][6] Gushcloud International works with influencers, content creators, and celebrities in Asia. The establishment has five working units: marketing, talent, investment, entertainment, and technology.[1]
In 2015, Yello Digital Marketing Global (YDMG), based in South Korea, gained control of the company by buying 62% of its shares for USD 7.5 million[7][8] but in November 2018, the co-founders bought back the 62% shareholding from investor YDMG for USD 8.2 million.[5][9] Between 2015 - 2018, it grew from three to nine markets.[7]
Russell Simmons, the co-founder of Def Jam Recordings, became the President in September 2019.[10][1]
Scandal
[edit]In 2014, a blogger from Singapore, Xiaxue, alleged that Gushcloud had unethical practices,[11] to which Gushcloud issued a point-by-point rebuttal.[12] In 2015, Xiaxue once again alleged that Gushcloud had paid celebrity bloggers to write negatively against the rivals of Singtel, which Singtel and Gushcloud initially denied but later apologised.[13][14][15]
Investments and Acquisitions
[edit]In 2017, the company raised USD 3 million from South Korea’s YG Group,[16][17] a record label and media company, and an unspecified amount from Japan's D2C Inc, which is a joint venture between NTT Docomo, Dentsu Inc, and NTT Advertising, Inc.[3] In 2018, Gushcloud entered into a joint venture with YAN Digital, the digital arm of YAN Media Group[18] and Hahm Shout, a Korean public relations firm.[19]
In May 2018, the company invested in Summer Beauty House, a social commerce venture.[20][21] In February 2019, Gushcloud International acquired the marketing agency, DSTNCT[4] and launched Ribbit, a micro influencer network, in April 2019.[22][23] In February 2020, it acquired MODA Creative.[24][25] In September 2019, it raised USD 11 million from Korea Investment Partners, Golden Equator Ventures, and Kejora Ventures.[26][27]
References
[edit]- ^ a b c d "From crises to conquest: How Gushcloud's founders turned their business around". CNA Luxury. Retrieved 2019-11-13.
- ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2019-05-08.
- ^ a b Lin, Jessica (2017-11-10). "Singapore's Gushcloud to open Japan office after securing investment from digital advertising company D2C". Business Insider Singapore. Archived from the original on 2019-05-08. Retrieved 2019-05-08.
- ^ a b Farveen, Farzanah (2019-02-14). "Gushcloud acquires marketing agency DSTNCT". Marketing Interactive. Retrieved 2019-05-08.
- ^ a b Tan, Janice (2018-11-16). "Gushcloud splits from Yello Digital, founders buy back company for US$8.2m". Marketing Interactive. Retrieved 2019-05-08.
- ^ Indonesia, Femina (2018-04-22). "Belajar Menjadi Influencer Sukses di Media Sosial". femina.co.id (in Indonesian). Retrieved 2019-05-08.
- ^ a b "Gushcloud weathered a PR disaster. It's now growing and profitable". www.techinasia.com. Retrieved 2019-08-26.
- ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2019-05-08.
- ^ "Gushcloud launches new sports marketing division". Marketing Interactive. 2017-05-11. Retrieved 2019-05-08.
- ^ Tay, Vivienne (2019-09-18). "Gushcloud names Def Jam co-founder as president, raises US$11m for global push". The Business Times. Retrieved 2019-09-24.
- ^ Chu, Mei Mei (2014-12-24). "Everyone Is Talking About Xiaxue's Big Exposé On Gushcloud. Can I Have A Summary Please?". SAYS. Retrieved 2020-03-08.
- ^ Lee, Terence (23 December 2014). "Singapore startup Gushcloud rebuts Xiaxue's accusations". www.techinasia.com.
- ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com.
- ^ Hicks, Robin (2015-03-17). "Xiaxue exposes Gushcloud for paying celebrity bloggers to write negatively about Singtel rivals, Singtel denies issuing brief". Mumbrella Asia. Retrieved 2019-09-09.
- ^ Dhanaraj, Jennifer (2015-03-18). "Singtel apologises for smear campaign against rivals". The New Paper. Retrieved 2020-03-08.
- ^ Thomas, Sujin (2017-10-16). "Gushcloud raises $3 million from YG Investment to expand its influence in Southeast Asia". Business Insider Singapore. Archived from the original on 2019-05-08. Retrieved 2019-05-29.
- ^ "Gushcloud raises $4m from YG Investment, plans to expand entertainment group's influence in SEA". AsiaOne. 17 October 2017. Retrieved 2019-05-08.
- ^ "Gushcloud Agency enters Vietnam via JV". Marketing Interactive. 2018-01-02. Retrieved 2019-05-08.
- ^ Farveen, Farzanah (2018-08-07). "Gushcloud bolsters Korean ops partnering with PR firm Hahm Shout". Marketing Interactive. Retrieved 2019-05-08.
- ^ Tay, Vivienne (2018-05-07). "Gushcloud eyes beauty space, partners Indonesia-based beauty community". Marketing Interactive. Retrieved 2019-05-08.
- ^ SkunkWorks (2018-05-15). "Summer Beauty House, Rumahnya Para Beauty Enthusiast". gadis.co.id (in Indonesian). Retrieved 2019-05-08.
- ^ "Instagram influencer sponsored posts rose 189% in Asia: Socialbakers". Branding in Asia Magazine. 2019-05-02. Retrieved 2019-05-14.
- ^ Manjur, Rezwana (2019-04-25). "Gushcloud Marketing Group launches micro influencer network called Ribbit". Marketing Interactive. Retrieved 2019-05-14.
- ^ "Gushcloud Acquires Australia's Digital Talent Startup MODA". AsiaTechDaily - Asia's Leading Tech and Startup Media Platform. 2020-02-03. Retrieved 2020-04-08.
- ^ Gushcloud expands its footprint in Australia via the acquisition of MODA Creatives
- ^ "S'pore-based influencer agency Gushcloud International raises $15m". The New Paper. 2019-09-19. Retrieved 2019-09-24.
- ^ "Gushcloud raises $11 million amid growth in influencer marketing". AsiaOne. 2019-09-19. Archived from the original on September 21, 2019. Retrieved 2019-09-24.