The online marketplace could give up its stake in e-commerce company Giosis as part of a deal where it will pay $700m for the latter's Japanese assets.
Giosis, the Singapore-based parent company of e-commerce platform Qoo10 which is backed by online marketplace eBay, is set to sell Qoo10’s Japanese operations to the corporate for $700m, Bloomberg reported yesterday.
The corporate will give up its stake in Giosis as part of the transaction, a person familiar with the matter told Bloomberg.
Founded in 2010 as a joint venture between eBay and online marketplace Gmarket’s founder Ku Young Bae, Giosis operates six e-commerce marketplaces under the Qoo10 name across…
