Straight after funding social food recipe sharing site iCook in Taiwan, Japan based CyberAgent Ventures now funds an undisclosed amount into beauty social networking platform Fashionguide. CyberAgent Ventures set up its office in Taiwan back in October 2011, and since then, funded dating website i-Part, restaurant review website iPeen, as well as social food recipe sharing site iCook. Fashionguide is now the fourth portfolio company of CyberAgent Ventures in Taiwan.
Fashionguide allows users to post reviews of beauty and cosmetics products. While the website relies a lot on user generated content, it is currently the largest website in this particular niche. According to TheNextWeb, CyberAgent Ventures says that the funds will be used to launch and support a new range of women’s lifestyle services. Fashionguide also have plans to expand its reach through its own mobile app, which is already in the works.
CyberAgent Venture’s Taiwan based representative Catherine Chang also tells TheNextWeb that they are interested in services that enhance and add value to the existing online shopping experience for users, often those will involve some sort of social layer.
“Social media is also where one of our core competencies lies in terms of our own group businesses and providing this type of know-how is where we believe as a financial backer we can offer valuable resources.”
A recent interview that we did with CyberAgent Ventures Beijing CEO, Nobuaki Kitagawa, helped us understand more about their investment philosophies. Fashionguide’s investment is clearly in line with what CyberAgent Ventures is trying to achieve.