On August 17th, Wemakeprice a company dealing with social commerce, announced it had raised a total of $85M following the third release of its shares through NXC. Through this investment, Wemakeprice plans to seek the necessary talent and improve its systems in order to accelerate and improve the shopping experience for its customers and partners.
NXC specializes in online and mobile games production as well as distribution through its subsidiary Nexon. Kim Jung Soo, the founder of Nexon, operates the business from the Special Economic Zoning of Jeju. NXC's investment into Wemakeprice was made through Nexon.
NXC's businesses include Lego brokerage sites, Brick Link, and premium baby good brand Stokke. NXC is able to develop its own mobile content and associated technologies through its research and development team.
In 2014, Wemakeprice recorded a turnover of $1.36B (USD), and has already demonstrated an annual growth rate of 60% for the first half of this year. Fueled by this growth, NXC plans to expand its social commerce business. The decision to invest into Wemakeprice as opposed to other e-commerce companies was based on key performance indicators, which included lead traffic and the volume of business with Coupang.
Park Eun Sang, a representative of Wemakeprice, expressed the company’s excitement in securing a long term investment with NXC. Park explained, "NXC was an investor who understood the direction of the management team and that they were confident they would continue to make the necessary investment to allow Wemakeprice to further grow."