E-commerce Startup BASE Secures Over $3M From Global Brain.
The Japanese startup behind the e-commerce platform with a similar name, Base, has recently announced that it has managed to raise a total of 300 million yen (US$3 million) from a Japanese firm investment Global Brain.
Along with this announcement, Global Brian’s Kazuhiko Fukayama has joined the company’s board and East Ventures Takanori Oshiba was appointed as an auditor for the e-commerce company. Further more the company has also recently announced that former GMO Pepapo executive Hiroto Shin will also be joining the board as a COO. Shin is well known for successfully launching the e-commerce business Color Me shop from his previous company.
According to the CEO of Base, Yuta Tsuruoka, this funding had been planned prior to their previous $2 million investment fund from CyberAgent. So they’ve succeeded in raising a total of $5 million as initially planned.
Tsuruoka stated that they’ve manage to acquire more than 80,000 merchants to date. Making it quite an impressive total amount, up from 50,00 merchants they’ve gained during the month of October 2013.
When asked on whether or not their startup would continue to grow at a steady pace, he replied with:
There are 1.6 million retailers nationwide in Japan. If you consider the number of stores dealing with daily use items, I think we can target around 300,000 or 400,000 merchants on our platform. But if we consider independent creators as potential merchants, I think there’s no limit to our future growth.
Their t-shirt printing service on the platform has garnered some great popularity amongst users. If they continue to acquire independent creators providing such services, then there’s a massive potential for them out there. From that kind of perspective, their market may be overlapped with other C2C focused companies based in Japan, such as Fril or Mercart. The more their user base continues to increase, then a variety of potential business models will continue open up.