Jem Seow
YAHOO! LAUNCHES NEW ONLINE MARKETPLACE WITH GMARKET IN SINGAPORE
- Online Auctions to be provided by Gmarket as Yahoo!’s Open Strategy provides a platform for third parties to gain distribution through the Yahoo! Front Page
SINGAPORE, 28 October 2008 – Yahoo! today announced that it has launched the trial of a new online marketplace on the Yahoo! Singapore Front Page (www.yahoo.com.sg) in partnership with Gmarket, a leading online auctions provider in Asia. The new co-branded Yahoo! and Gmarket product is a significant example of Yahoo!’s Open Strategy, which allows consumers to experience the best of the web while third parties benefit from Yahoo!’s leadership in consumer reach and engagement on its network, including the #1 position of the Yahoo! Singapore Front Page.
Gmarket in association with Yahoo! Singapore is a new service that allows sellers to reach more customers and increase online sales. Currently the site is in a trial-stage where sellers can register before listing items for free. Fees are only applied once a transaction is complete. The new service is designed to put sellers in more control. For example, sellers can offer fixed price trading, price bargaining and discount coupon options to entice customers. The service also provides Mini-Shop online storefronts, loyalty (including Mileage Points) programs and online marketing services from Yahoo! that can help boost selling potential through customer leads.
“Yahoo! Singapore is the leading online starting point for internet users because we provide an open platform to give consumers the very best online content and user experience. Our partnerships are key to that strategy, and allows people to access what they like best about the web,” said Ken Mandel, vice president and managing director, Yahoo! Southeast Asia. “Yahoo!’s partnership with Gmarket will provide an essential marketplace experience for online sellers and buyers in Singapore,” Mandel added.
“Gmarket is a leading auctions provider in Asia and the largest online marketplace in Korea – one of the most wired nations on earth. We have the experience and the technology that provides a better experience for sellers and buyers in an internet savvy market like Singapore,” said HyunWook Cho, Leader of Global Business Group, Gmarket. “Gmarket’s partnership with Yahoo! will enable buyers and sellers to tap into world-leading technology and cutting edge e-commerce tools and services to help them buy and sell items more easily,” said HyunWook Cho.
Yahoo! retired its Singapore Auctions service in September and shifted to a more open and partner-centric approach utilizing Gmarket in association with Yahoo! Singapore. Yahoo! is currently migrating the loyal Yahoo! Singapore Auctions community to the co-branded Gmarket service.
“The partnership with Gmarket is just the start of Yahoo!’s Open Strategy for publishers in this region,” said Fernando Pizarro, head of business development for Yahoo! Southeast Asia. “We welcome more online companies into the Yahoo! network, to help them with distribution and, at the same time, become more essential for online users,” Pizarro added.
YAHOO! LAUNCHES NEW ONLINE MARKETPLACE WITH GMARKET IN SINGAPORE
- Online Auctions to be provided by Gmarket as Yahoo!’s Open Strategy provides a platform for third parties to gain distribution through the Yahoo! Front Page
SINGAPORE, 28 October 2008 – Yahoo! today announced that it has launched the trial of a new online marketplace on the Yahoo! Singapore Front Page (www.yahoo.com.sg) in partnership with Gmarket, a leading online auctions provider in Asia. The new co-branded Yahoo! and Gmarket product is a significant example of Yahoo!’s Open Strategy, which allows consumers to experience the best of the web while third parties benefit from Yahoo!’s leadership in consumer reach and engagement on its network, including the #1 position of the Yahoo! Singapore Front Page.
Gmarket in association with Yahoo! Singapore is a new service that allows sellers to reach more customers and increase online sales. Currently the site is in a trial-stage where sellers can register before listing items for free. Fees are only applied once a transaction is complete. The new service is designed to put sellers in more control. For example, sellers can offer fixed price trading, price bargaining and discount coupon options to entice customers. The service also provides Mini-Shop online storefronts, loyalty (including Mileage Points) programs and online marketing services from Yahoo! that can help boost selling potential through customer leads.
“Yahoo! Singapore is the leading online starting point for internet users because we provide an open platform to give consumers the very best online content and user experience. Our partnerships are key to that strategy, and allows people to access what they like best about the web,” said Ken Mandel, vice president and managing director, Yahoo! Southeast Asia. “Yahoo!’s partnership with Gmarket will provide an essential marketplace experience for online sellers and buyers in Singapore,” Mandel added.
“Gmarket is a leading auctions provider in Asia and the largest online marketplace in Korea – one of the most wired nations on earth. We have the experience and the technology that provides a better experience for sellers and buyers in an internet savvy market like Singapore,” said HyunWook Cho, Leader of Global Business Group, Gmarket. “Gmarket’s partnership with Yahoo! will enable buyers and sellers to tap into world-leading technology and cutting edge e-commerce tools and services to help them buy and sell items more easily,” said HyunWook Cho.
Yahoo! retired its Singapore Auctions service in September and shifted to a more open and partner-centric approach utilizing Gmarket in association with Yahoo! Singapore. Yahoo! is currently migrating the loyal Yahoo! Singapore Auctions community to the co-branded Gmarket service.
“The partnership with Gmarket is just the start of Yahoo!’s Open Strategy for publishers in this region,” said Fernando Pizarro, head of business development for Yahoo! Southeast Asia. “We welcome more online companies into the Yahoo! network, to help them with distribution and, at the same time, become more essential for online users,” Pizarro added.