Influencer marketing and entertainment company Gushcloud International announced today that they have raised US$3 million from YG Investment to expand their newly-formed entertainment group, Gushcloud Entertainment.
Both familiar names, YG Investment is the investment arm under South Korea’s YG Group – a leading music label and entertainment agency best known for K-pop groups like Big Bang and BLACKPINK.
Headed by Althea Lim, CEO of Gushcloud Entertainment, the group manages social media influencers and talents globally, and focuses on creating influencer, celebrity, and talent-led intellectual property and content.
With the injection of funds, Gushcloud Entertainment aims to grow the group within Southeast Asia, eyeing larger markets like Indonesia, Philippines, and Vietnam.
In these markets, the digital entertainment group intends to invest into vertical-based social media talent and content management companies focused on beauty, parenting, sports, music, and gaming.
They are also in the process of building a new company to create beauty-related content and cosmetic products with top global beauty content creators.
Shared Lim, “Gushcloud Entertainment is committed to working with partners across Southeast Asia in building out the entertainment ecosystem to create more cross collaborations between influencers and content creators who are the new celebrities in today’s age. With YG as a key investor and partner, this will allow us to learn and grow more aggressively into Southeast Asia. We are excited to execute the projects that we have lined up.”
Added Charlie Cho, Head of YG Plus SEA (Singapore) Branch:
Southeast Asia has a population of more than 640 million people, with a fast growing mobile and digital consumer penetration. Based on our data, Southeast Asia is a huge consumer of Korean pop culture.
“With this new investment into Gushcloud, we want to leverage upon the company’s physical presence in the 9 offices they have, to export more of YG’s entertainment assets and acts into Southeast Asia.”
“Brands can now connect directly with YG in Southeast Asia should they want to engage with our artistes. YG hopes to create more digital cross collaborations and partnerships with influencers, social media talents, entertainment companies and agencies, between Korea and Southeast Asia.”
In addition to this, YG will also set up their Southeast Asian headquarters within the same premises as Gushcloud’s headquarters based in Singapore.
Disclosure: Gushcloud is an investor of GRVTY Media, the parent company of Vulcan Post.