Gmarket Inc. (NASDAQ: GMKT) is Korea's leading e-commerce marketplace, offering buyers a fun, convenient and secure shopping experience and sellers a flexible and comprehensive sales solution. The product categories available on our website include fashion and apparel, computers and electronics, furniture and home products, just to name a few, and we are constantly adding new services and product categories. Gmarket currently has over 10 million registered users, and we are also Korea¡¯s leading e-commerce website in terms of gross merchandise value. We have received numerous awards for our innovative e-commerce business model in Korea. Gmarket strongly believes in social and corporate responsibility, and we strictly abide by these principles in the operation of our business.
Our Business Model The key to achieving our leadership has been our unique business model and effective targeting of the broadest seller segment, resulting in a tremendous selection of products available to our buyers. Our business focus has always been somewhat different from existing players in the market. Instead of focusing on large businesses or occasional sellers, we have focused on the needs of small to medium sized businesses. In Korea, this group of sellers has been the most active in adopting the Internet for their business and they have been the driving force of e-commerce market growth. Having captured this middle ground and achieving the critical mass of both buyers and sellers, we are well positioned to expand our seller base to large businesses as well as occasional sellers.
Diverse Revenue Sources We derive our revenues primarily from transaction fees on the sale of products on our website. At the same time, we have been diversifying our revenue sources by offering premium listings, keyword listings, seller advertising and non-seller advertising.
Rapid Growth We believe our rapid growth is attributable to our ability to facilitate interaction among a growing critical mass of buyers and sellers. We believe sellers are attracted to our website for our cost effective, end-to-end sales and marketing channel and access to a broad audience of buyers. We believe buyers are attracted to our website as we provide an entertaining and secure shopping environment with more than 2.0 million products currently available for sale in 29 product categories at competitive prices.
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