SINGAPORE - Korean digital media agency, Yello Digital Marketing (YDM) Group, has acquired a majority stake in homegrown Gushcloud in a multi-million dollar deal that underscores the rise of content and influencer marketing in Asia.
YDM said it will shift its Southeast Asian headquarters to Singapore after the Gushcloud deal, to house up to 200 employees in a new office in the Central Business District.
YDM is part of Yello Mobile group, which comprises more than 70 companies specialising in shopping media, digital apps, content advertising and marketing, online travel and offline to online services. YDM is Yello Mobile group's advertising and digital marketing division offering online and offline marketing services to more than 5,000 clients in five countries.
Gushcloud is an influencer and content marketing group founded in 2011 by Singapore entrepreneurs Vincent Ha and Althea Lim, both young entrepreneurs with experience in advertising, video production, and youth event marketing. Gushcloud said it employs 80 people in offices in Singapore, Malaysia and Indonesia.
Under the deal, Mr Ha, Gushcloud chief executive officer and co-founder, and Ms Lim, chief revenue officer, will retain a significant minority shareholding and will take on strategic roles within YDM, in particular, spearheading its Southeast Asian expansion plans for content/influencer marketing.
Said Mr Ha: "YDM is creating a group that can provide the full suite of digital strategy, marketing and creative services across mobile media and social networks. A key pillar in its vision for service offerings includes viral and content marketing.¡¨
¡"South Korean brands are taking Southeast Asia and the rest of the world by storm, dominating in mobile phones, household appliances, skincare, fashion, entertainment and pop culture. Gushcloud and its sister companies look forward to working with the many of these Korean brands to help them stand out from the clutter in the online world."
Said YDM CEO Lee Sang Seok: "Singapore is a strategic base because of its location, its reputation as an established regional hub for businesses and the sophistication of its consumer markets. Through Gushcloud, we hope to tap the huge potential in content and data to meet our clients' needs in the dynamic digital world.