Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
ty! i'll watch for now...
I should have sent you a note earlier.....it's been on quite a run since I bought it ----- every day in GREEN. And, they
just reported numbers after market close last night.
As such, should be an interesting day ~~~ however, not sure
it is the RIGHT environment to take a position ----- lots of
momentum right now ~~~~ but, could also be ripe for profit
taking !
found it... ty! we'll have a look...
ps NM now at 12.50 premarket;)
13 and all hell breaks loose imo...
GMKT flying in pre-market....."good sign" !!
GMARKET (NasdaqGM:GMKT)
Pre-Market: 23.60 +0.95 +4.19% as of 8:06AM ET on 08/02/07
Gmarket Tops Q2 Expectations - Jumping to 23.44 in Early After-Hours
--------------------------------------------------------------------------------
Midnight Trader
4:03 p.m. 08/01/2007
Boston, Aug 01, 2007 (MidnightTrader via COMTEX) -- GMKT reports Q2 revs of $60.3 mln and EPS of $0.18 per share, vs. the FC mean of $56.8 mln in revs and EPS of $0.14.
Price: 23.44, Change: 0, Percent Change: 0
http://www.midnighttrader.com
GMKT ~~~ August 1, 2007 - 3:00 PM EST
Gmarket Reports Second Quarter 2007 Financial Results
-- 2Q07 revenues increase 51% to $60.3 million from $40.0 million in 2Q06
-- Diluted EPS increases 178% to $0.18 from $0.07 in 2Q06
Gmarket Inc. (NASDAQ: GMKT) ("Gmarket") announced today its financial and operating results for the second quarter ended June 30, 2007.
Gmarket reported total revenues of $60.3 million (Won 55.6 billion) for the second quarter of 2007, representing a 51% increase from total revenues of $40.0 million (Won 36.9 billion) for the second quarter of 2006.
The Company's gross merchandise value ("GMV"), which represents the total value of all items sold on Gmarket's website, increased by 43% to $846.6 million (Won 780.0 billion) for the second quarter of 2007 compared to $590.2 million (Won 543.8 billion) for the same period in 2006. Transaction fee revenues for the second quarter of 2007 were $34.9 million (Won 32.1 billion), representing a 34% increase from $26.1 million (Won 24.0 billion) for the second quarter in 2006. Advertising and other non-transaction revenues for the second quarter of 2007 were $25.4 million (Won 23.4 billion), representing an 82% increase from $14.0 million (Won 12.9 billion) for the same period in 2006.
Operating income for the second quarter of 2007 was $8.2 million (Won 7.6 billion), representing a 214% increase from $2.6 million (Won 2.4 billion) for the same period in 2006.
Net income for the second quarter of 2007 was $9.1 million (Won 8.4 billion), representing a 215% increase from $2.9 million (Won 2.7 billion) for the same period in 2006. Earnings per diluted share for the second quarter of 2007 increased to $0.18 (Won 167), up from $0.07 (Won 60) for the same period in 2006.
"In the second quarter, we focused on increasing our market leadership in our core categories, developing and expanding our smaller categories and continuing to strengthen our brand image and user loyalty," said Young Bae Ku, Chief Executive Officer of Gmarket. "We are pleased with our second quarter financial performance, which included strong growth in our non-transaction revenue."
During the second quarter of 2007, the Company's registered user base grew to approximately 12.4 million from 11.8 million registered users at the end of the first quarter of 2007. In addition, the Company averaged 17.6 million monthly unique visitors in the second quarter of 2007, compared to 16.5 million unique visitors during the second quarter of 2006.
The Company reported $12.9 million (Won 11.9 billion) of cash provided by operating activities for the second quarter of 2007 and finished the quarter with $206.6 million (Won 190.4 billion) in cash, cash equivalents and short term deposits and no debt.
Gmarket maintains its expectation that GMV for full year 2007 will range from $3.4 billion (Won 3.1 trillion) to $3.8 billion (Won 3.5 trillion).
Investor Conference Call / Webcast Details
The Company's management will review detailed second quarter 2007 results on Wednesday, August 1, 2007 at 6:00 p.m. U.S. Eastern Time (7:00 a.m., August 2, 2007 in Seoul, South Korea). A live webcast of the conference call will be available on Gmarket's website at www.gmarket.co.kr/IR/.
Dial-in details for the conference call are as follows:
US: +1 617 614 3472
Hong Kong: +852 3002 1672
Singapore: +65 6823 2164
U.K.: +44 (0) 207 365 8426
Korea: +82 00 308 13 1153
Password for all regions: Gmarket
A replay of the call will be available on August 1, 2007 at 9:00 p.m. U.S. Eastern Time (10:00 a.m., August 2, 2007 in Seoul, South Korea) through midnight on August 8, 2007 U.S. Eastern Time (1:00 p.m, August 9, 2007 in Seoul, South Korea) at www.gmarket.co.kr/IR/ and by telephone at +1 617 801 6888, with passcode 32272868.
Notes: (1) The Dollar amounts provided in this release are based on an exchange rate of Won 921.30 to US$1.00, which is the noon buying rate in effect on June 30, 2007 as quoted by the Federal Reserve Bank of New York. (2) GMV should not be construed as an alternative to revenues or any other measure of performance determined in accordance with U.S. GAAP. Other companies may determine GMV in a different manner than Gmarket does.
About Gmarket
Gmarket Inc. is a leading retail e-commerce marketplace in Korea, offering buyers a wide selection of products at competitive prices and sellers a comprehensive and flexible sales solution. Gmarket's e-commerce marketplace is highly scalable and facilitates the sale of products in small or large quantities to a large number of potential buyers in a convenient, cost effective and secure manner. Gmarket's e-commerce marketplace is located at www.gmarket.co.kr.
Safe Harbor Under the Private Securities Litigation Reform Act of 1995
Certain statements in this filing on Form 6-K may include, in addition to historical information, "forward-looking statements" within the meaning of the "safe-harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project," or "continue" or the negative thereof or other similar words, although not all forward-looking statements will contain these words. These forward-looking statements are based on the Company's current assumptions, expectations and projections about future events. All forward-looking statements involve risks and uncertainties that may cause the Company's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements, including, but not limited to, the Company's ability to diversify revenues; the Company's ability to compete effectively in a highly competitive industry; the Company's ability to anticipate and access technological developments in the Company's industry; the Company's ability to recruit and retain quality employees as the Company grows; the Company's ability to implement the Company's growth strategies; and economic and political conditions in and outside of Korea. Investors should consider the information contained in the Company's submissions and filings with the SEC, including the Company's registration statement on Form F-1, as amended, together with such other documents as the Company may submit to or file with the SEC from time to time, including on Form 6-K. The forward-looking statements speak only as of this filing on Form 6-K and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
GMARKET INC.
UNAUDITED BALANCE SHEETS
(in millions of Korean Won and in thousands of US dollars)
December 31, June 30, June 30,
2006 2007 2007
============ ============ ============
Assets
Current assets:
Cash and cash equivalents W34,930 W31,314 $ 33,989
Cash on deposit 134,398 159,051 172,638
Restricted cash 6,400 6,510 7,066
Accounts receivable, net 33,827 39,981 43,397
Current held-to-maturity
securities 4,000 4,000 4,342
Other current assets 5,119 9,114 9,892
============ ============ ============
Total current assets 218,674 249,970 271,324
Long-term financial instruments 5,000 5,000 5,427
Property and equipment, net 19,582 20,292 22,025
Other assets 4,846 4,900 5,317
============ ============ ============
Total assets W248,102 W280,162 $ 304,093
============ ============ ============
Liabilities and Shareholders' Equity
Current liabilities:
Amounts payable to sellers W103,599 W116,174 $ 126,098
Accounts payable 19,242 19,616 21,292
Deferred revenue and advances 3,532 4,202 4,561
Loyalty program reserves 6,608 7,510 8,151
Withheld value added tax 1,995 3,307 3,589
Other current liabilities 4,859 4,474 4,856
============ ============ ============
Total current liabilities 139,835 155,283 168,547
Accrued severance benefits 1,397 2,006 2,177
Other liabilities - 375 408
============ ============ ============
Total liabilities 141,232 157,664 171,132
============ ============ ============
Shareholders' equity:
Common shares 4,951 4,971 5,395
Additional paid-in capital 86,445 87,191 94,639
Retained earnings 15,474 30,336 32,927
============ ============ ============
Total shareholders' equity 106,870 122,498 132,961
============ ============ ============
Total liabilities and shareholders'
equity W248,102 W280,162 $ 304,093
============ ============ ============
GMARKET INC.
UNAUDITED STATEMENTS OF INCOME
(in millions of Korean Won and thousands of US dollars, except per
share data)
Three Months Ended June 30,
==================================
2006 2007 2007
========== ========== ==========
Revenues:
Transaction fees W23,996 W32,129 $ 34,873
Advertising and others 12,865 23,438 25,441
========== ========== ==========
Total revenues 36,861 55,567 60,314
Costs and expenses:
Cost of revenues 1) 17,933 29,253 31,753
Sales and marketing 1) 13,211 13,111 14,231
General and administrative 3,301 5,612 6,092
========== ========== ==========
Total costs and expenses 34,445 47,976 52,076
========== ========== ==========
Operating Income 2,416 7,591 8,238
Other income (expense):
Interest income 794 2,066 2,243
Others, net - (99) (107)
========== ========== ==========
Income before income tax expenses 3,210 9,558 10,374
Income tax expenses (534) (1,141) (1,238)
========== ========== ==========
Net income W2,676 W8,417 $ 9,136
Earning per share - basic 2) W61 W169 $ 0.18
Earning per share - diluted 2) 60 167 0.18
Weighted average number of
shares - basic 32,419,429 49,657,529 49,657,529
Weighted average number of
shares - diluted 33,357,934 50,524,504 50,524,504
Six Months Ended June 30,
==================================
2006 2007 2007
========== ========== ==========
Revenues:
Transaction fees W44,013 W62,366 $ 67,693
Advertising and others 21,185 41,252 44,776
========== ========== ==========
Total revenues 65,198 103,618 112,469
Costs and expenses:
Cost of revenues 1) 33,684 54,849 59,534
Sales and marketing 1) 22,032 25,358 27,523
General and administrative 5,537 10,371 11,257
========== ========== ==========
Total costs and expenses 61,253 90,578 98,314
========== ========== ==========
Operating Income 3,945 13,040 14,155
Other income (expense):
Interest income 1,563 4,119 4,471
Others, net 19 (24) (28)
========== ========== ==========
Income before income tax expenses 5,527 17,135 18,598
Income tax expenses (922) (2,039) (2,213)
========== ========== ==========
Net income W4,605 W15,096 $ 16,385
Earning per share - basic 2) W106 W304 $ 0.33
Earning per share - diluted 2) 103 299 0.32
Weighted average number of
shares - basic 31,415,293 49,582,287 49,582,287
Weighted average number of
shares - diluted 32,360,836 50,484,722 50,484,722
1) Cost associated with our integrated delivery service of Won
818 million for the three months and Won 1,275 million for
the six months ended June 30, 2006 have been reclassified
from sales and marketing to cost of revenues to conform to
current period presentation.
2) The prior period earnings per share figures have been represented
to reflect application of the two class method and the dilutive
effect of the participating preferred shares. The participating
preferred shares were converted into common shares in June 2006.
GMARKET INC.
UNAUDITED STATEMENTS OF CASH FLOWS
(in millions of Korean Won and thousands of US dollars)
Three Months Ended June 30,
============================
2006 2007 2007
======== ======== ========
Cash flows from operating activities:
Net income W2,676 W8,417 $ 9,136
Adjustments
Depreciation and amortization 750 1,534 1,664
Stock-based compensation expense 238 400 434
Provision for bad debt - 95 103
Provision for severance benefits 175 353 383
Deferred tax assets (372) (573) (622)
Provision for loyalty program reserves 1,599 1,323 1,436
Others, net - 118 129
Changes in operating assets and liabilities
Accounts receivable (3,534) (5,577) (6,053)
Amounts payable to sellers 3,136 6,881 7,469
Accounts payable 2,370 2,999 3,255
Deferred revenue and advances 310 224 243
Other current assets (1,996) (2,393) (2,598)
Other assets (4) - -
Other current liabilities 1,468 (1,802) (1,956)
Payment of accrued severance benefits (7) (136) (147)
======== ======== ========
Net cash provided by (used in)
operating activities 6,809 11,863 12,876
======== ======== ========
Cash flows from investing activities:
Increase in cash on deposit, net (2,000) (17,233) (18,705)
Increase in restricted cash, net (3,600) - -
Increase in long-term financial
instruments, net (30) - -
Purchase of property and equipment (948) (1,260) (1,368)
Decrease in other current assets 47 5 5
Increase in other assets, net - (145) (156)
======== ======== ========
Net cash used in investing activities (6,531) (18,633) (20,224)
======== ======== ========
Cash flows from financing activities:
Issuance of common shares, net 57 130 141
Decrease in loan to employees for stock
purchase 194 - -
======== ======== ========
Net cash provided by financing
activities 251 130 141
======== ======== ========
Net increase (decrease) in cash and
cash equivalents 529 (6,640) (7,207)
======== ======== ========
Cash and cash equivalents
Beginning of year 19,150 37,954 41,196
======== ======== ========
End of period W19,679 W31,314 $ 33,989
======== ======== ========
Six Months Ended June 30,
============================
2006 2007 2007
======== ======== ========
Cash flows from operating activities:
Net income W4,605 W15,096 $ 16,385
Adjustments
Depreciation and amortization 1,366 3,005 3,261
Stock-based compensation expense 377 637 691
Provision for bad debt - 146 159
Provision for severance benefits 419 771 837
Deferred tax assets (605) (1,028) (1,115)
Provision for loyalty program reserves 3,178 2,167 2,352
Others, net (19) 114 124
Changes in operating assets and liabilities
Accounts receivable (4,144) (6,167) (6,693)
Amounts payable to sellers (14,656) 12,575 13,649
Accounts payable 3,223 374 406
Deferred revenue and advances 917 670 727
Other current assets (1,769) (3,128) (3,396)
Other assets 18 9 10
Other current liabilities 1,352 (338) (368)
Payment of accrued severance benefits (19) (162) (175)
======== ======== ========
Net cash provided by (used in)
operating activities (5,757) 24,741 26,854
======== ======== ========
Cash flows from investing activities:
Increase in cash on deposit, net (3,300) (24,653) (26,759)
Increase in restricted cash, net (3,700) (110) (119)
Increase in long-term financial
instruments, net (60) - -
Purchase of property and equipment (3,966) (3,693) (4,009)
Decrease in other current assets 47 5 5
Increase in other assets, net (756) (36) (38)
======== ======== ========
Net cash used in investing activities (11,735) (28,487) (30,920)
======== ======== ========
Cash flows from financing activities:
Issuance of common shares, net 57 130 141
Decrease in loan to employees for stock
purchase 216 - -
======== ======== ========
Net cash provided by financing activities 273 130 141
======== ======== ========
Net increase (decrease) in cash and
cash equivalents (17,219) (3,616) (3,925)
======== ======== ========
Cash and cash equivalents
Beginning of year 36,898 34,930 37,914
======== ======== ========
End of period W19,679 W31,314 $ 33,989
======== ======== ========
GMARKET INC.
UNAUDITED SUPPLEMENTAL OPERATING DATA
----------------------------------------------------------------
1Q 2006 2Q 2006 3Q 2006 4Q 2006 1Q 2007 2Q 2007
========== ========= ========== ========== ========== ==========
GMV
(in billions
of Won)(1) 469.2 543.8 573.0 682.4 723.0 780.0
---------- --------- ---------- ---------- ---------- ----------
Registered
Users(2) 8,310,737 9,238,701 10,110,874 10,967,445 11,753,910 12,407,622
========== ========= ========== ========== ========== ==========
Average
Monthly
Unique
Visitors(3)
(000) 15,179 16,543 17,051 17,130 16,931 17,581
---------- --------- ---------- ---------- ---------- ----------
1. Represents the aggregate value of all products sold on the Company's
website for the period. GMV is commonly used in the e-commerce industry
to measure a company's operating performance as transaction fees depend
in part on GMV. GMV should not be construed as an alternative to any
measure of performance determined in accordance with U.S. GAAP. Other
companies may determine GMV in a different manner to Gmarket.
2. Registered Users include both buyers and sellers who have registered
with the Company as of the end of the period.
3. Average monthly unique visitors represents the average number of
monthly unique visitors to the Company's website during the period,
measured and announced by Metrix Corporation, a Korean
Internet research company. Other research companies' results may differ.
Contacts:
Paul J. Lee
Gmarket Inc.
+82-2-3016-4372
Email Contact
In the U.S.
David Pasquale
The Ruth Group
+1-646-536-7006
Email Contact
Source: Market Wire (August 1, 2007 - 3:00 PM EST)
Earnings C/C today @ 6:00 p. (ET)
Wed 7:36am GMKT GMARKET INC Earnings Call scheduled for 6:00 pm ET today - CCBN
Wed 7:10am GMKT Q2 2007 GMARKET INC Earnings Release - After Market Close - CCBN
COVERAGE REITERATED: GMarket (GMKT) reiterated by RBC Capital Mkts. Reiterated rating Outperform.
--------------------------------------------------------------------------------
Briefing.com
07:59 a.m. 08/01/2007
GMKT ~~
Seeking Alpha
Gmarket to Benefit From E-commerce Momentum
Wednesday August 1, 4:52 am ET
http://wmayhem.com/
Wall Street Mayhem submits: It’s no secret that e-commerce is on fire once again. This week Amazon (NasdaqGS: AMZN - News) impressed investors with a second consecutive blow out quarter. It appears that the long awaited promise of e-commerce has finally materialized. Gmarket (NasdaqGM: GMKT - News) appears poised to benefit from the same e-commerce trends that sent shares of Amazon flying this week.
Gmarket has performed well since we first profiled the company in late April, but the recent strength in Asian internet stocks and e-commerce stocks combined with improving fundamentals, should help push shares of Gmarket considerably higher. Previously, we held Gmarket as a short term pick, but now we have decided to add Gmarket to our long term portfolio ahead of the second quarter earnings report next week.
Gmarket reports gross merchandise value [GMV] a few weeks before reporting earnings so we have some numbers to work with heading into next week. GMV represents the total value of all items sold on Gmarket’s website. For the second quarter of 2007, Gmarket reported a GMV of 780 billion won. This GMV represents an 8% sequential increase in revenue. Last quarter revenue from transaction fees came in at 30.2 billion won. Using the same ratio, transaction revenue should come in at 32.58 billion won for the second quarter of 2007.
Recently, advertising and other non-transaction revenues have been growing faster than transaction related revenues at Gmarket. Last quarter advertising and non-transaction fee related revenue came in at 17.8 billion won, an increase of 114% compared to Q1 2006. If we assume that non-transaction revenue will increase by 50% in Q2 2007 compared to Q2 2006, then non-transaction revenue will come in at about 19.28 billion won. Therefore, after making the preceding growth assumptions, total revenue would come in at 52.4 billion won.
The current won to US dollar exchange rate is 915 won for $1 US dollar. Last quarter the rate was 937 won per $1 US dollar. The weakening US dollar should help Gmarket’s numbers when reported in US dollars. Four US analysts follow Gmarket and all of them report estimates in US dollars. None of these analysts have updated their numbers in the last 90 days despite a weakening US dollar that should help Gmarket’s numbers compared to estimates when the company reports.
Second quarter revenue in US dollars would come in at $57.26 million if we assume a 50% increase in non-transaction revenues compared to Q2 2006 and an 8% sequential increase in transaction related revenues. We think a 50% increase in non-transaction related revenue is a conservative estimate, but even with this estimate, Gmarket would handily beat the consensus analyst estimate of $56.85 million. If Gmarket can increase non-transaction revenues by more than 50%, investors could be in for a Bidu or Amazon type surge in Gmarket shares.
Bidu (NasdaqGS: BIDU - News) reported a great quarter yesterday with revenue coming in at 401.3 million Yuan ($52.7 million). Just like Gmarket, Bidu’s numbers were helped by the weakening US dollar. Last quarter $1 was worth 7.73 Yuan; today $1 is worth 7.56 Yuan.
For Bidu, $52.7 million in revenue was enough to send the stock flying higher, up 19% in the after hours alone. This move propelled Bidu’s market cap to a lofty $7.35 billion. Analysts expect Gmarket to have second quarter revenues of $56.85 million (we think it will be closer to $58 million) and Gmarket has a market cap of $1 billion. Let’s review, Bidu has a market cap that is seven times larger than Gmarket, but it has lower revenues. We all know that the market pays a big premium for growth stocks. Therefore, does Bidu have projected growth numbers that justify the divergence in market cap from Gmarket? Not according to the analysts. The analysts that cover Bidu expect 68.5% revenue growth this year and 48.3% per year growth for the next five years. The analysts covering Gmarket expect 78.4% growth this year and 42% growth per year for the next five years.
For this quarter, Gmarket is poised to benefit from strong demand for e-commerce and a favorable exchange rate. For the long run, Gmarket will benefit from a dominant position in Korean e-commerce and a planned expansion into other Asian markets. Gmarket’s valuation is favorable when compared to other e-commerce stocks and Asian internet stocks. In short, this looks like a great time to buy Gmarket.
Suggested Trades:
* BUY GMKT near $20.05 (long term portfolio)
Full Disclosure: Wall Street Mayhem is long Gmarket
GMKT 1-yr. chart:
Wok and (egg) Roll !!!!!!!
As my old friend Freddie Prinz would put it:
Lewwwwwwkinnnnnnn Gooooooooooooooooodddd !!!
And, we keep swimmin' against the TIDE too ~~~ and that's
a real good thing !!
YUP ~~~ look very closely....and, 1.3 billion people waiting for it to hit CHINA !!!
My sister-in-law sells Korean collectibles on EBAY and at shows she goes to.
Every year she flies there and power shops for a few days, then brings it all home to sell it online. She makes a fortune on the silliest little things like handmade papers and pictures of Korean TV stars LOL.
GMKT may have some real promise! Might put her out of business though :(
IBD 'data' on GMKT
-----------------------------
the diagnosis:
Stock: Gmarket Inc Ads
Symbol:
Symbol Lookup Help
Current Price: $20.66
Exchange: NMS
Industry Group: Internet-E Commerce
Overall Rating: (92 = A-)
Learn More
PRESCRIPTION FOR HEALTHY INVESTING:
Get Quote/News for Gmarket Inc Ads.
View an IBD Chart for Gmarket Inc Ads.
View a Premium Stock Graph for Gmarket Inc Ads.
Add Gmarket Inc Ads to My Stock Lists.
Set an IBD Alert for Gmarket Inc Ads.
IBD Archive Search for Gmarket Inc Ads.
Index Funds From Fidelity
Stock's Diagnosis
Technical Rating (75 = B-) Group's Technical Rating (90 = A-)
Fundamental Rating (93 = A) Group's Fundamental Rating (52 = D+)
Attractiveness Rating (77 = B-) Get These Ratings On Your Cell Phone!
Gmarket Inc Ads's Rank within the Internet-E Commerce Group
worst best
Overall Rank: 10th out of 46 stocks
worst best
Technical Rank: 12th out of 46 stocks
worst best
Fundamental Rank: 7th out of 46 stocks
worst best
Attractiveness Rank: 10th out of 46 stocks
Press Release
http://yhoo.client.shareholder.com/press/ReleaseDetail.cfm?ReleaseID=199687
Yahoo! to Acquire 10 Percent Stake in Gmarket
SEOUL, South Korea & SUNNYVALE, Calif., Jun 06, 2006 (BUSINESS WIRE) -- Gmarket Inc., a leading e-commerce marketplace provider in Korea, and Yahoo! Inc. (Nasdaq:YHOO), a leading global Internet company, today announced that Yahoo! has committed to a strategic investment in Gmarket. Yahoo! has entered into an agreement to acquire a stake of approximately 10 percent in Gmarket from Oak Investment Partners, a multi-stage venture capital firm with $8.4 billion in total assets under management. Oak is the only significant outside institutional investor in Gmarket.
Gmarket Chief Executive Officer, Young Bae Ku commented, "We believe that this strategic investment by Yahoo! is in line with and enhances our strategy to pursue growth opportunities abroad and also complements our continued strategy of providing to our users a comprehensive selling and convenient buying platform. In connection with Yahoo!'s investment, we have agreed with Yahoo! to seek ways to implement various strategic initiatives internationally and in Korea."
Dan Rosensweig, chief operating officer, Yahoo! Inc., said, "Gmarket's strength in e-commerce complements the strong offerings we already provide in the Korean market across communications, content and search through Yahoo! Korea and Overture Korea. Additionally, we look forward to working with Gmarket to leverage their e-commerce expertise to further expand Yahoo!'s leading position in commerce in Asia."
Nakyang Seong, head of Yahoo! Korea, said, "Upon completion of the investment, Yahoo! Korea and Gmarket will actively cooperate to pursue broader opportunities in the Korean market while respecting other partners."
About Gmarket
Gmarket Inc. is a leading e-commerce provider in Korea, providing to consumers an ever-growing selection of products at competitive prices in a convenient buying environment and sellers a cost effective, end-to-end sales and marketing channel. The company facilitates the interaction among a growing number of buyers and sellers and has received numerous awards for its innovative e-commerce business model in Korea.
About Yahoo!
Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! seeks to provide online products and services essential to users' lives, and offers a full range of tools and marketing solutions for businesses to connect with Internet users around the world. Yahoo! is headquartered in Sunnyvale, California.
About Oak Investment Partners
Established in 1978, Oak Investment Partners is a venture capital firm with a strong investment record and a global presence. Oak's investment focus is on high growth opportunities in consumer internet, new media, semiconductors, communications, software and IT, financial services technology, healthcare services and retail. Oak's team concentrates on building long-term relationships with experienced management to develop successful companies that deliver consistent performance over time. Their portfolio includes internet companies like Aquantive, Fastclick (acquired by ValueClick), IGE, Inktomi (acquired by Yahoo!), Oberon Media, and RazorGator; software and IT companies like Compaq, Parametric Technology Corporation, Seagate Technologies, Sybase, Synopsys and TeleAtlas; and communications companies such as 2Wire, Polycom, Telica (acquired by Lucent) and Wireless Facilities (WFII), etc. For more information, please visit www.oakvc.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. For example, statements of expected synergies and benefits to the investment, industry ranking, among others are all forward-looking statements. Risks, uncertainties and assumptions include the possibility that any benefits of investment by Yahoo! may not materialize and the expected synergistic benefits for both parties may not occur.
Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by Gmarket and Yahoo!. Gmarket and Yahoo! assume no obligation and expressly disclaim any duty to update information contained in this news release except as required by law.
SOURCE: Yahoo! Inc.
Yahoo! Inc.
Helena Maus, 408-349-7085
helena@yahoo-inc.com
or
Gmarket Inc.
Paul J. Lee, +82-2-3016-4372
plee@gmarket.co.kr
or
Oak Investment Partners
Ms. Steffanie Ericsson, 203-226-8346
infoCT@oakvc.com
Copyright Business Wire 2006
News Provided by COMTEX
===========================
and, more:
http://www.alacrastore.com/company-snapshot/Gmarket_Inc-3771277
old news ~~~ IPO data:
IPO News Archive
http://www.ipohome.com/marketwatch/iponews2.asp?article=2865
Korean e-commerce site Gmarket prices at high end
6/29/2006
Gmarket Inc., Korea's largest e-commerce marketplace selling a wide range of consumer products, priced 9.1 million shares at $15.25 Wednesday, which is at the high end of its proposed $13.25-$15.25 range. Goldman Sachs, Cowen & Co. and Thomas Weisel were the underwriters on the deal. The stock, listed on the Nasdaq under the symbol "GMKT," is up 1.6% at $15.50 in early afternoon trading.
View IPO Profile: GMKT
Nope....it's the next combination of AMZN/EBAY !!!
Thanks for stopping by Serf !!
Hello EZ and fellow GMKTers! Is this the next GOOG?
May 24, 2007
GMKT presentation @ Goldman Sachs Internet Conference
Las Vegas --- http://library.corporate-ir.net/library/19/193/193909/items/247534/gmarket.pdf
Gmarket Schedules Second Quarter 2007 Results Conference Call
SEOUL, South Korea, July 18, 2007 (PRIME NEWSWIRE) -- Gmarket Inc. (Nasdaq:GMKT) ("Gmarket") announced today that it will hold a conference call with investors and analysts to discuss the Company's second quarter 2007 results on Wednesday, August 1, 2007 at 6:00 p.m. U.S. Eastern Time (7:00 a.m., August 2, 2007 in Seoul).
The news release announcing the second quarter results will be disseminated after the Nasdaq stock market closes on August 1, 2007 in New York.
Dial-in details for the conference call are as follows:
US: +1 617 614 3472
Hong Kong: +852 3002 1672
Singapore: +65 6823 2164
U.K.: +44 (0) 207 365 8426
Korea: +82 00 308 13 1153
Password for all regions: Gmarket
A live webcast of the conference call will be available on Gmarket's website at www.gmarket.co.kr/IR/
A replay of the call will be available on August 1, 2007 at 9:00 p.m. U.S. Eastern Time (10:00 a.m., August 2, 2007 in Seoul) through midnight on August 8, 2007 U.S. Eastern Time (1:00 p.m., August 9, 2007 in Seoul) at www.gmarket.co.kr/IR/ and by telephone at +1 617 801 6888, with passcode 32272868.
ABOUT GMARKET
Gmarket Inc. is a leading retail e-commerce marketplace in Korea, offering buyers a wide selection of products at competitive prices and sellers a comprehensive and flexible sales solution. Gmarket's e-commerce marketplace is highly scalable and facilitates the sale of products in small or large quantities to a large number of potential buyers in a convenient, cost effective and secure manner. Gmarket's e-commerce marketplace is located at www.gmarket.co.kr
CONTACT: Gmarket Inc.
Paul J. Lee, General Counsel and Vice President
+82-2-3016-4372
plee@gmarket.co.kr
In the U.S.
The Ruth Group
David Pasquale
+1-646-536-7006
dpasquale@theruthgroup.com
Source: PrimeNewswire (July 18, 2007 - 8:10 AM EST)
GMARKET INC
8th floor, LIG Tower, Seoul, KR 135-912
Investor Events
ALL EVENTS | WEBCASTS
Current Webcast
SYMBOL EVENT TITLE LISTEN DATE TIME(ET)
GMKT Q2 2007 GMARKET INC Earnings Conference Call 1-Aug-07 6:00 PM
Very odd indeed. Maybe I'll take a look at their SEC filings one of these days.
What? Are you sure? Do you remember the ticker's (if perhaps not the company's) history from AZNT days?
Very strange. Did Access Trade One get revoked? Was the old ticker assigned to GMarket?
Kramer is really talking up this company tonight.
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
97
|
Created
|
01/03/01
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |