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Ookbee secures Series B funding from transcosmos

Thai e-book store has partnered with Japan’s transcosmos to strengthen its e-commerce business and further expand in Southeast Asia

By Elaine Huang

ookbee

Thailand-based e-book store Ookbee today announced that it has secured Series B funding from Japan’s transcosmos to expand further in Southeast Asia. The amount is rumoured to be US$7 million.

It had previously received US$2 million from Shin Corporation (INTOUCH) for a valuation set at US$8 million, which saw the bigger firm take a stake of 25 per cent.

According to ThumbsUp, a local online publication, transcosmos will now own a 10 per cent stake in Ookbee.

At a glance, Ookbee seems to be doing swimmingly, with operations in Thailand, Vietnam, Malaysia, the Philippines, and Singapore. A report published on transcosmos’s official website noted that the two companies will work together to strengthen its e-commerce business. The e-book store, which has more than 5.5 million members, will be able to leverage on transcosmos’s resources, like personnel and know-how in digital marketing, advertising operations, data analysis and customer support.

Masataka Okuda, President and COO, transcosmos said, “We want to continue accelerating e-commerce one-stop services in the ASEAN market, as well as support the e-commerce development of our customers in the ASEAN market.”

For the record, transcosmos has invested in e-commerce startups BerryBenka and Luxola.

e27 has reached out to Ookbee and transcosmos for more comments.



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