E-commerce marketplace site Qoo10 revealed that in 2012, its Singapore operations transacted US$73 million in sales. In Singapore, Qoo10 has a total of more than 900,000 members and 53,000 sellers.
The online marketplace charges commission from about six to twelve percent commission on sellers and makes about three to six percent off each transaction after footing peripheral costs. Based on its margin, we can deduce that Qoo10 Singapore’s commission revenue is anywhere from two to four million. Qoo10 also generates revenue by offering premium listings.
Qoo10 is the rebranded version of Gmarket which originated from South Korea and has a total of 450 employees with 40 in Singapore. Besides Singapore, Qoo10 is also operating in Hong Kong, Japan, Indonesia, Malaysia and China. It is also celebrating its third anniversary on 23 April 2013.
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