Funding

With $29 M Funding, Memebox takes Korean Beauty Products around the Globe.

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What does Memebox do?

Memebox,  is the fastest trending beauty company in the world. It offers the latest Korean beauty products in exclusively curated boxes and collaborates with the rising digital stars to create the creating the latest looks with the company’s own make up line, XO Memebox.

Memebox provides a great mobile and online shopping experience driven through technology and vertical integration. Memebox’s boxes are hand curated with full size products only and with the latest trends in Korean Beauty. It’s online shop offers the widest range of Korean Beauty products which can be purchased with just a few clicks.

How much Memebox was funded?

The mobile and beauty ecommerce startup was funded $17.5 M in Series B funding on March 11th, 2015 by the investors Formation 8, AME Cloud Ventures, , Goodwater Capital ,Y Combinator, Pejman Mar Ventures,  FundersClub, , Winklevoss Capital, Altos Ventures and Cowboy Ventures.

Previous funding

  • $500k  in Seed round on Dec 9, 2013 by SparkLabs Accelerator and Chester Roh
  • $800k  in Seed round on Mar 16, 2014 by Signatures Capital, Bobby Yazdani, Fenox Venture Capital, SparkLabs Global Ventures, Y Combinator and Sangwook Jin
  • $11.9M in Series A funding in Jul, 2014

What is next for Memebox?

Memebox will use the latest funding to build its operation in U.S.A, China and South Korea. Apart from upgrading its mobile apps, which account for 80% of the transaction currently, Memebox will also expand its private label of cosmetics and skin care and improve its logistics network.

More about Memebox        

MemeBox was founded on Febrauary 7th, 2012 by Doin Kim and Hyungseok Dino Ha.

It differs from other beauty box services by focusing on the Korean brands and not offering a subscription service. Memebx uses data gathered from the search queries on e-commerce store and sales, consumer feedback, apps and social networks for creating products for its own brand.

Last December Memebox sold out 25,000 units in just 40 minutes after the cosmetics launched.