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Gushcloud International
Company typeTalent agency
Founded2011, Singapore
FounderAlthea Lim, Vincent Ha
Headquarters
Singapore
Area served
Singapore, Malaysia, Indonesia, Thailand, Philippines, Korea, Vietnam, Japan, China, and USA.
Number of employees
300[1] (2019[1])
Websitehttps://gushcloud.com

Gushcloud International is a global influencer, entertainment, and talent acquisition company. It is headquartered in Singapore and began in 2011.[2][3]

History

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Althea Lim and Vincent Ha are the co-founders of Gushcloud International,[4] which has offices in Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, South Korea, Japan, and the US, and 300+ employees.[5][6] Gushcloud International works with influencers, content creators, and celebrities in Asia. The establishment has five working units: marketing, talent, investment, entertainment, and technology.[1]

In 2015, Yello Digital Marketing Global (YDMG), based in South Korea, gained control of the company by buying 62% of its shares for USD 7.5 million[7][8] but in November 2018, the co-founders bought back the 62% shareholding from investor YDMG for USD 8.2 million.[5][9] Between 2015 - 2018, it grew from three to nine markets.[7]

Russell Simmons, the co-founder of Def Jam Recordings, became the President in September 2019.[10][1]

Investments and Acquisitions

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In 2017, the company raised USD 3 million from South Korea’s YG Group,[11][12] a record label and media company, and an unspecified amount from Japan's D2C Inc, which is a joint venture between NTT Docomo, Dentsu Inc, and NTT Advertising, Inc.[3] In 2018, Gushcloud entered into a joint venture with YAN Digital, the digital arm of YAN Media Group[13] and Hahm Shout, a Korean public relations firm.[14]

In May 2018, the company invested in Summer Beauty House, a social commerce venture.[15][16] In February 2019, Gushcloud International acquired the marketing agency, DSTNCT[4] and launched Ribbit, a micro influencer network, in April 2019.[17][18] In February 2020, it acquired MODA Creative.[19][20] In September 2019, it raised USD 11 million from Korea Investment Partners, Golden Equator Ventures, and Kejora Ventures.[21][22]

Incident

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In 2014, a blogger from Singapore, Xiaxue, alleged that Gushcloud had unethical practices,[23] to which Gushcloud issued a point-by-point rebuttal.[24] In 2015, Xiaxue once again alleged that Gushcloud had paid celebrity bloggers to write negatively against the rivals of Singtel, which Singtel and Gushcloud initially denied but later apologised for.[25][26][27]

References

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  1. ^ a b c d "From crises to conquest: How Gushcloud's founders turned their business around". CNA Luxury. Retrieved 13 November 2019.
  2. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 8 May 2019.
  3. ^ a b Lin, Jessica (10 November 2017). "Singapore's Gushcloud to open Japan office after securing investment from digital advertising company D2C". Business Insider Singapore. Archived from the original on 8 May 2019. Retrieved 8 May 2019.
  4. ^ a b Farveen, Farzanah (14 February 2019). "Gushcloud acquires marketing agency DSTNCT". Marketing Interactive. Retrieved 8 May 2019.
  5. ^ a b Tan, Janice (16 November 2018). "Gushcloud splits from Yello Digital, founders buy back company for US$8.2m". Marketing Interactive. Retrieved 8 May 2019.
  6. ^ Indonesia, Femina (22 April 2018). "Belajar Menjadi Influencer Sukses di Media Sosial". femina.co.id (in Indonesian). Retrieved 8 May 2019.
  7. ^ a b "Gushcloud weathered a PR disaster. It's now growing and profitable". www.techinasia.com. Retrieved 26 August 2019.
  8. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 8 May 2019.
  9. ^ "Gushcloud launches new sports marketing division". Marketing Interactive. 11 May 2017. Retrieved 8 May 2019.
  10. ^ Tay, Vivienne (18 September 2019). "Gushcloud names Def Jam co-founder as president, raises US$11m for global push". The Business Times. Retrieved 24 September 2019.
  11. ^ Thomas, Sujin (16 October 2017). "Gushcloud raises $3 million from YG Investment to expand its influence in Southeast Asia". Business Insider Singapore. Archived from the original on 8 May 2019. Retrieved 29 May 2019.
  12. ^ "Gushcloud raises $4m from YG Investment, plans to expand entertainment group's influence in SEA". AsiaOne. 17 October 2017. Retrieved 8 May 2019.
  13. ^ "Gushcloud Agency enters Vietnam via JV". Marketing Interactive. 2 January 2018. Retrieved 8 May 2019.
  14. ^ Farveen, Farzanah (7 August 2018). "Gushcloud bolsters Korean ops partnering with PR firm Hahm Shout". Marketing Interactive. Retrieved 8 May 2019.
  15. ^ Tay, Vivienne (7 May 2018). "Gushcloud eyes beauty space, partners Indonesia-based beauty community". Marketing Interactive. Retrieved 8 May 2019.
  16. ^ SkunkWorks (15 May 2018). "Summer Beauty House, Rumahnya Para Beauty Enthusiast". gadis.co.id (in Indonesian). Retrieved 8 May 2019.
  17. ^ "Instagram influencer sponsored posts rose 189% in Asia: Socialbakers". Branding in Asia Magazine. 2 May 2019. Retrieved 14 May 2019.
  18. ^ Manjur, Rezwana (25 April 2019). "Gushcloud Marketing Group launches micro influencer network called Ribbit". Marketing Interactive. Retrieved 14 May 2019.
  19. ^ "Gushcloud Acquires Australia's Digital Talent Startup MODA". AsiaTechDaily - Asia's Leading Tech and Startup Media Platform. 3 February 2020. Retrieved 8 April 2020.
  20. ^ Gushcloud expands its footprint in Australia via the acquisition of MODA Creatives
  21. ^ "S'pore-based influencer agency Gushcloud International raises $15m". The New Paper. 19 September 2019. Retrieved 24 September 2019.
  22. ^ "Gushcloud raises $11 million amid growth in influencer marketing". AsiaOne. 19 September 2019. Archived from the original on 21 September 2019. Retrieved 24 September 2019.
  23. ^ Chu, Mei Mei (24 December 2014). "Everyone Is Talking About Xiaxue's Big Exposé On Gushcloud. Can I Have A Summary Please?". SAYS. Retrieved 8 March 2020.
  24. ^ Lee, Terence (23 December 2014). "Singapore startup Gushcloud rebuts Xiaxue's accusations". www.techinasia.com.
  25. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com.
  26. ^ Hicks, Robin (17 March 2015). "Xiaxue exposes Gushcloud for paying celebrity bloggers to write negatively about Singtel rivals, Singtel denies issuing brief". Mumbrella Asia. Retrieved 9 September 2019.
  27. ^ Dhanaraj, Jennifer (18 March 2015). "Singtel apologises for smear campaign against rivals". The New Paper. Retrieved 8 March 2020.
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