FYI

Influencer marketing firm Gushcloud buys back stake from Yello Digital Marketing

Singapore-based influencer marketing firm Gushcloud International has bought back the 62% stake held by Korean firm Yello Digital Marketing Global for $8.2 million.

Co-founders Althea Lim and Vincent Ha claimed they needed control of the company, as they moved to a wider remit beyond just influencer marketing services. Gushcloud had been acquired by Yello, which claims to be the largest digital marketing group in Korea in 2015.

The announcement:  

Gushcloud International Co Founders announces in an email sent out to all employees and stakeholders yesterday that both co founders, Miss Althea Lim and Mr Vincent Ha have regained control of Gushcloud International from Yello Digital Marketing Global.

This includes the full 62% buyback that Yello Digital Marketing Global previously held within Gushcloud International at an agreed price of USD$8,200,000.

“We are grateful for the last 3 years with Yello Digital Marketing Global. The company has helped us break into key territories providing influencer marketing services across Asia Pacific. However, as co founders of Gushcloud International, we see the company evolving beyond influencer marketing services so we can build out a sustainable future for influencers and content creators. To play an important role within the media and entertainment industry, and to build out what this ecosystem looks like, we believe we had to take back control of steering the company forward and to onboard more strategic partners and investors. We are excited for our next wave of growth and will remain close partners with Yello Digital Marketing Global.” Both Miss Althea Lim and Mr Vincent Ha, Co Founders of Gushcloud International mentioned.

Gushcloud International was previously acquired in May 2015 by Yello Digital Marketing Global. Across the last 18 months, Gushcloud International has developed 3 units, the Gushcloud Marketing Group, the Gushcloud Talent Agency, the Gushcloud Entertainment Group. Gushcloud International operates in 9 offices globally including Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, Korea, Japan and Los Angeles; and is headquartered in Singapore.

Source: Gushcloud media release

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