[THE INVESTOR] GS Home Shopping 's subsidiary A plus B has attracted 3 billion won (US$2.71 million) investment from Altos Ventures, a US-based venture capital firm.
Altos Ventures, headed by Korean-American Han Kim, acquired 151,209 redeemable convertible preference shares (20.55 percent stake) issued by the company that operates online shopping website 29cm, according to news reports on Sept. 21. It became the second largest stakeholder after the parent company whose stake decreased to 76.94 percent from 96.84 percent.
GS Home Shopping has taken over the then startup firm in 2011. A plus B has posted 2.8 billion won in sales with a 2.9 billion won net loss in 2015, but is on an upward trajectory, said the company official.
By Hwang You-mee (
glamazon@heraldcorp.com)
