Memebox builds and scales private-label beauty brands using data-driven consumer insights and the latest Korean technology and formulations. Its core product strategy centers on creating indie K-Beauty brands and formulations and bringing them to market. The company’s portfolio includes I Dew Care, Kaja, Nooni and Pony Effect. Memebox plans to use new capital to strengthen its portfolio by investing in digital capabilities and working with innovative manufacturing and retail partners. Financially, the company has raised $190M to date, including a $35M Series D announced in January 2019. Memebox graduated Y Combinator in 2014 and recently reintroduced its e-commerce engine and launched the Kaja color makeup line in partnership with Sephora. Memebox began in 2012 as a beauty box service and has evolved into an online makeup and cosmetics store selling both its own brands and third-party products. The company operates physical stores in Korea but is predominantly focused on online sales. It says an average of 88% of purchases worldwide come via mobile, rising to 94% for Asia-based customers. Founder and CEO Dino Ha recently relocated to San Francisco as the company increases its focus on the U.S. and China while Korea remains its largest market. Memebox reports annual revenues over $100 million but is not yet profitable. The company plans to use new funding to continue operations and expand its global footprint. Memebox began in 2012 as a beauty-box company and pivoted to a direct-to-consumer e-commerce model. It sells over 1,200 Korean beauty products and has developed 450 products across four own brands, with income from those own brands higher than general platform sales. The company operates across offices in San Francisco, Shanghai, Seoul, Taipei, Hong Kong and Singapore and has nearly 250 staff. Memebox reports a $150M GMV annual run rate and 280% annual growth, with China up 1,200% year-on-year and the U.S. up 490% year-on-year. The business has four million app downloads, 80% of sales from mobile, and is not yet profitable but is aiming for profitability by next year. It plans to add two more own brands before year-end and expand offline with more brick-and-mortar stores beyond its first Seoul location. Memebox is a Seoul-based e-commerce company focused on curating and selling Korean beauty brands and its own private-label cosmetics. The company sells themed beauty boxes individually (not by subscription), though boxes account for less than five percent of revenue; the bulk of sales come from its e-commerce store and private label. Memebox uses search, sales, customer feedback, and social data to inform product development and aims to turn trends into private-label products in about two months using vertical integration. Mobile apps drive roughly 80% of transactions, and the company plans to launch 10 new apps. It has expanded into China with a localized site, a Shanghai team of 20, and about 24,000 active U.S. customers. Memebox has raised $29.35M to date and is investing in operations, app upgrades, private-label expansion, and improved logistics, including company-run fulfillment centers. Memebox is a South Korean beauty subscription commerce company launched in 2012 by CEO Dino Ha. It offers a curated subscription service in which beauty specialists select beauty items for customers. The company operates beyond South Korea, with its service also available in the USA and Japan. In 2013 Memebox raised $500K in funding from SparkLabs Global Ventures. The company said it will use the funds to continue to grow. Memebox provides curated beauty products through its subscription-commerce model.

Total raised

$179M

Funding rounds

5

Latest round

Series D

Latest activity

Jan 2019