South Korea’s pop culture tidal wave that’s engulfing anyone who steps near to it is investing $3 million into Asian influencers Gushcloud.
As part of strategic investment by the Korean record label YG Entertainment have invested $3 million (US dollars) into Gushcloud. Gushcloud are a fresh-faced startup in Singapore that manages Asian influencers and popular personalities online.
Gushcloud says that their business focuses on managing popular persons on social media and big talents. They have a focus on creating influencer, celebrity and talent-led intellectual property or content. Gushcloud plan to use their new funding to expand across Asia with specific plans to grow in large markets like Indonesia, the Philippines, and Vietnam.
The company plans to invest in vertical-based social media talent and content management companies focused on beauty, parenting, sports, music and gaming. The parent company Gushcloud International also have plans for a new company for creating beauty and cosmetic products and content for use with top global beauty content creators with Gushcloud.
Gushcloud’s CEO, Ms Althea Lim says: “Gushcloud Entertainment is committed to working with partners across Southeast Asia in building out the entertainment ecosystem to create more cross collaborations between influencers and content creators who are the new celebrities in today’s age.”
YG Entertainment’s Southeast Asia head Charlie Cho says that their investment was in part to continue their campaign in promoting and growing South Korean entertainment and pop culture. Cho said: “We want to leverage on the company’s physical presence… to export more of YG’s entertainment assets and acts into Southeast Asia. Brands can now connect directly with YG in Southeast Asia should they want to engage with our artists.”
Gushcloud launched all the way back in 2011 and has been growing it its capital Singapore since. In 2015 Korean company Yello Mobile acquired a majority stake in Gushcloud after confirming a $7.5million+ deal (US dollars).