Creema Secures $1 million Investment from KDDI Open Innovation Fund.
The startup that’s behind the C2C marketplace for handmade items, Tokyo-based Creema, has recently announced that it has managed to raise over 100 million yen (Approximately $1 million) from KDDI Open Innovation Fund. The company has planned to utilize these funds for a system development efforts to give users a much better experience.
Within this space, plenty of startups have been seen such as Etsy, Creatty, and Pinkit. But Creema is one of the most oldest companies out of all of them. Since is initial launching back during June 2010, the company has manage to acquire over 18,000 creators and they’ve submitted over 500,000 items for the platform.
CEO and founder Kotaro Marubayashi has explained on why they’ve manage to grow their platform business after a long time:
I think this kind of websites usually takes time to make users understand what’s interesting. That’s why we’ve been carefully developing this community. What makes us unique from other similar services is that most of our creators are making a living by selling their items here. Their items are completely different from what people create as their hobby in their spare time.
In order to garner massive amounts of awareness from people of their homemade products, the company holds an exhibition thats called “HandMade in Japan Fes” every year as well as having an actual flagship store based in Shinjuku Lumine department store. Due to these resulting efforts, they have managed to surpass over 15 million monthly page views, and the amount transaction through their platform grows at a pace of 400% every year. some creators have manage to earn more than $10,00 a month despite the fact that most of the items are one-off originals.
tallying up the funding, the company gains user traffic from Au Smart Pass, the unlimited application download service by KDDI planning to include several payment methods for KDDI’s smartphone subscribers, Marubayashi further added:
We’ve been developing our service diligently and steadily. We have a good revenue stream but we can try out something new using the money raised this time. But we’re not interested in increasing page views using ads. We believe there’s a huge potential in the manufacturing culture. We’ll focus on improving our system infrastructure to better serve our users.