Qoo10
Singapore-based e-commerce marketplace that operated localized online shopping platforms across several Asian markets.
Last updated August 22, 2026
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Overview
Qoo10 was a Singapore-headquartered e-commerce marketplace serving consumers and merchants across Asia. The business developed from the regional operations associated with Gmarket, a South Korean online marketplace founded in 2000 by Ku Young Bae as a subsidiary of Interpark. Gmarket expanded into Japan in 2007 and Singapore in 2008. After eBay acquired Gmarket in 2009, Ku Young Bae and eBay formed Giosis Pte. Ltd. in 2010 to develop the Singapore and Japanese businesses and extend the marketplace model into additional Asian countries. The resulting operation initially used the Gmarket name. It expanded into Indonesia and Malaysia in 2011 and introduced a global marketplace later that year. In 2012, the regional business was rebranded Qoo10, creating a distinct identity for localized marketplaces outside the Gmarket brand's core Korean operations. Qoo10 subsequently established operations in mainland China in 2013 and Hong Kong in 2015. Its model combined localized websites, cross-border shopping, marketplace tools, payment and fulfillment-related services, and access to international merchandise. The platform emphasized support for small and medium-sized merchants, allowing them to reach consumers through country-specific online storefronts. Qoo10's corporate structure changed significantly in 2018. eBay acquired Giosis's Japanese properties, including Qoo10 Japan, which continued to operate independently. eBay's interests in the non-Japanese businesses were transferred to a newly established Qoo10 parent structure. The company raised a reported US$82.1 million Series A round in 2015 from Singapore Press Holdings, eBay, Oak Investment Partners, Saban Capital Group, Brookside Capital, and UVM 2 Venture Investments. The stated purpose was to accelerate technology and service development and expand infrastructure and talent. The company pursued further international expansion through acquisitions. In 2019, it acquired ShopClues, an Indian e-commerce platform. In 2024, Qoo10 acquired Wish.com, an American online marketplace, for approximately US$173 million according to contemporaneous reporting. Qoo10 temporarily presented the Qoo10.com service under the Wish+ identity after the acquisition, but later reverted to the Qoo10 name amid a wider crisis involving its South Korean operations and affiliated marketplaces Tmon and WeMakePrice. Qoo10 received recognition in Singapore during its operating period. It was named Best Online Retailer at the AsiaOne People's Choice Awards in 2015 and 2016, and was recognized for electronics shopping by the 2016 Tech Awards. Market estimates cited in reference material placed Qoo10 Singapore at 32.6% of Singapore's e-commerce market in 2017, while traffic measurements from iPrice repeatedly ranked it among the country's leading e-commerce websites. The business entered severe financial difficulty in 2024. Reports described delayed payments to merchants and consumers in South Korea, followed by complaints, small claims and police reports. Qoo10 reportedly reduced more than 80% of its Singapore workforce in August 2024. In September, the Monetary Authority of Singapore ordered the company to suspend payment services because of outstanding obligations and unfulfilled orders. Qoo10 also shut its Malaysian platform, Qoo10.my. On 11 November 2024, the Singapore High Court ordered Qoo10 to be wound up after finding the company insolvent. Consequently, the brand is treated here as defunct, although the status of every associated website, subsidiary and acquired business may differ.
History
Qoo10's history is rooted in Gmarket, a South Korean online marketplace founded in 2000 by Ku Young Bae under Interpark. Gmarket began building an international footprint with a Japanese operation in 2007 and a Singapore operation in December 2008. eBay acquired Gmarket in April 2009. In May 2010, Ku Young Bae and eBay established Giosis Pte. Ltd. as a joint venture to develop the Singapore and Japanese marketplaces and expand into the wider region. The regional network grew quickly. Gmarket-branded marketplaces were introduced in Indonesia in March 2011 and Malaysia in April 2011, followed by a global marketplace in September. In May 2012, the regional operation adopted the Qoo10 name. This rebranding separated the developing Southeast Asian and cross-border business from the Gmarket identity while preserving the marketplace's regional and international-commerce roots. Qoo10 entered mainland China in January 2013 and Hong Kong in January 2015. In July 2015, Giosis raised a reported US$82.1 million Series A investment from Singapore Press Holdings, eBay, Oak Investment Partners, Saban Capital Group, Brookside Capital and UVM 2 Venture Investments. The company said the capital would support technology, service development, infrastructure and recruitment. Qoo10 was positioned as a platform particularly suitable for small and medium-sized enterprises, giving merchants localized digital storefronts and access to consumers in several Asian markets. The relationship with eBay was reorganized in April 2018. eBay acquired Giosis's Japanese properties, including Qoo10 Japan, which operated independently from the other Qoo10 services. eBay relinquished its stakes in the non-Japanese businesses, which were placed under a newly established Qoo10 parent structure. Qoo10 continued its expansion through corporate acquisitions, purchasing Indian marketplace ShopClues in October 2019. In February 2024, Qoo10 acquired Wish.com, an American e-commerce platform, for approximately US$173 million. The Qoo10.com service was briefly associated with the Wish+ identity after the transaction, but the branding was subsequently withdrawn in the context of mounting problems involving Qoo10 and the South Korean marketplaces Tmon and WeMakePrice. During 2024, reports described delayed payments to merchants and consumers, unfulfilled orders and increasing financial pressure. Qoo10 reportedly reduced more than 80% of its Singapore workforce in August. In September, the Monetary Authority of Singapore required Qoo10 to suspend payment services. The company also closed its Malaysian marketplace. On 11 November 2024, the Singapore High Court ordered Qoo10 to be wound up after determining that it was insolvent. These events marked the effective end of Qoo10's operation as a Singapore-based regional marketplace, although individual acquired companies and country operations may have had separate legal or operational outcomes.
- 2024
Wish acquisition and corporate collapse
[1]Qoo10 acquired Wish.com, faced payment and fulfillment problems, suspended Singapore payment services following regulatory action, closed Qoo10.my, and was ordered wound up by the Singapore High Court in November.
- 2019
ShopClues acquisition
[1]Qoo10 acquired Indian e-commerce platform ShopClues.
- 2018
eBay takes over Qoo10 Japan
[1]eBay acquired Giosis's Japanese properties, including Qoo10.jp, while the non-Japanese businesses moved under a new Qoo10 parent structure.
- 2015
Qoo10 enters Hong Kong and raises Series A funding
[1]Qoo10 established a Hong Kong operation in January. In July, Giosis announced a reported US$82.1 million Series A financing round.
- 2013
Qoo10 enters mainland China
[1]Qoo10 established a mainland Chinese operation in January.
- 2012
Gmarket regional operations become Qoo10
[1]The regional marketplace network was rebranded Qoo10 in May.
- 2011
Regional and global expansion
[1]Gmarket-branded marketplaces launched in Indonesia and Malaysia, and a global marketplace was introduced later in the year.
- 2010
Giosis is established
[1]Ku Young Bae and eBay formed Giosis Pte. Ltd. as a joint venture to develop the Singapore and Japan marketplaces and expand across Asia.
- 2009
eBay acquires Gmarket
[1]eBay completed its acquisition of Gmarket in April.
- 2008
Gmarket enters Singapore
[1]A Singapore marketplace was established in December, creating the foundation for the later Qoo10 regional network.
Products and positioning
A localized, cross-border Asian online marketplace focused on broad product selection and access for small and medium-sized merchants.
E-commerce platform · 2012
Qoo10 localized marketplaces
Country- and territory-focused online marketplaces that connected consumers with domestic and international merchants. The services offered broad product catalogs and localized shopping experiences, with the network extending across Singapore, Indonesia, Malaysia, mainland China and Hong Kong.
Cross-border e-commerce · 2011
Qoo10 global marketplace
An international marketplace introduced during the Gmarket period and later associated with Qoo10. It enabled merchants and consumers to participate in cross-border online retail beyond the platform's country-specific storefronts.
Merchant platform · 2010
Qoo10 merchant marketplace services
Marketplace tools and storefront access designed particularly for small and medium-sized enterprises. The model allowed independent sellers to list products and reach consumers through Qoo10's localized regional sites.
E-commerce platform · 2007
Qoo10 Japan
The Japanese marketplace associated with Qoo10's Giosis-era network. eBay acquired the Japanese properties in 2018, after which Qoo10.jp operated independently from the other Qoo10 sites.
E-commerce platform
Wish.com
An American online marketplace acquired by Qoo10 in 2024. The acquisition temporarily led Qoo10.com to use the Wish+ branding, although the Qoo10 name was later restored.
Controversies
2024
Payment delays and unfulfilled orders
Qoo10 and related South Korean marketplaces were reported to have delayed payments owed to merchants and consumers and failed to fulfill some orders. The problems generated complaints, small claims and police reports.
2024
Regulatory suspension of Singapore payment services
The Monetary Authority of Singapore ordered Qoo10 to suspend payment services in September, citing excessive unfulfilled orders and payment obligations to merchants and customers.
2024
Singapore winding-up order
The Singapore High Court ordered Qoo10 to be wound up on 11 November after finding the company insolvent.
Brand decisions
2024
Acquisition of Wish.comM&ABackground
Qoo10 pursued further cross-border expansion through the purchase of an established American online marketplace.
Action taken
Qoo10 acquired Wish.com for approximately US$173 million and temporarily used the Wish+ identity on Qoo10.com.
Aftermath
The Wish+ branding was later withdrawn as Qoo10 faced a wider liquidity and payment crisis.
Reported acquisition price. approximately US$173 million (2024 acquisition)
2024
Singapore workforce reduction and Malaysian closureStrategyBackground
Qoo10 faced reported payment delays, unfulfilled orders and financial instability.
Action taken
The company reportedly reduced more than 80% of its Singapore workforce and ceased operations on the Qoo10.my Malaysian platform.
Aftermath
The measures were presented as resource-consolidation steps but were followed by regulatory action and the Singapore winding-up order.
2019
Acquisition of ShopCluesM&ABackground
Qoo10 sought to extend its international e-commerce footprint.
Action taken
Qoo10 acquired ShopClues, an Indian online marketplace.
Aftermath
The transaction added an Indian marketplace business to Qoo10's international portfolio.
2018
Reorganization of the eBay relationshipM&ABackground
Qoo10's Japanese and non-Japanese businesses had developed into separate regional operations.
Action taken
eBay acquired the Japanese properties, including Qoo10.jp, and relinquished its interests in the non-Japanese businesses, which moved under a new Qoo10 parent structure.
Aftermath
Qoo10 Japan operated independently while the remaining regional business continued under separate Qoo10 ownership and management arrangements.
2012
Regional rebrand from Gmarket to Qoo10StrategyBackground
The regional marketplace network had expanded beyond its original Singapore and Japanese operations into additional Asian markets.
Action taken
The business adopted Qoo10 as its regional brand name in May 2012.
Aftermath
The rebrand established Qoo10 as a distinct Southeast Asian and cross-border marketplace identity.
Recent events
Sources4 sources
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