G-Market
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| Subsidiary | |
| Industry | Ecommerce |
| Founded | 2000 |
| Headquarters | Gangnam-gu, Seoul, Korea |
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Key people
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Brian Byun, Country Manager |
| Products | Online auction business model, shopping mall, electronic commerce |
| Parent | eBay Inc. |
| Website | www |
Gmarket is a Korean online auction and shopping mall website, where people from all around the world buy and sell goods and services.
Gmarket was founded in 1999 by Young Bae Ku as "AuctionWeb" & "ShoppingMall", part of a larger personal site. Originally, the site belonged to Online Market Group, a consulting firm. Young Bae had tried to register the domain name "GreenMarket" but found it already taken, so he shortened it to his second choice, "gmarket.co.kr". Gmarket is headquartered in Seoul, South Korea. He has served as Gmarket's president and CEO (T.K.S.) since 2000. On June 6, 2006, Yahoo! acquired a 10% stake share.
In June 2009, eBay acquired Gmarket for the USD equivalent of approximately $1.2 billion. This subsidiary is now known as eBay Korea Co., Ltd.
Collectibles, appliances, computers, furniture, equipment, vehicles, and other miscellaneous items are listed, bought, and sold. Some items are rare and valuable, while many others are products that would have been discarded if not for the thousands of eager bidders, proving that if one has a big enough market, one will find someone willing to buy anything. It is fair to say that Gmarket has revolutionized the collectibles market by bringing together buyers and sellers internationally in a huge, never-ending "yard sale" and auction. Large international companies, such as LG and Samsung sell their newest products and offer services using competitive auctions and fixed-priced storefronts. Regional searches of the database make shipping slightly more rapid or cheaper. Software developers can create applications that integrate with the marketplace through the Gmarket Service by joining the developers program. There are thousands of members in the Gmarket Developers Program, comprising a broad range companies creating software applications to support Gmarket buyers and sellers as well as Gmarket Affiliate Systems.
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Wikipedia