MEMEBOX
Revision as of 21:36, 26 March 2014 by Jin.lee.2011 (talk | contribs)
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Contents
Background
Company team
Company Financials
Challenges
- Initial challenges
- Building a user-friendly e-commerce website. "Website looked like crap."
- Finding good brands for partnership
- Managing cash flow
- Current challenges
- Expansion overlapping large corporations
Analysis
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Future Growth for MEMEBOX?
- Create own Memebox beauty products
Products in our Memebox branded collection currently include basic cosmetic items such as face brushes and cotton pads. We seek to expand this range, and Memebox's private collection will be an online-and-mobile-exclusive label.
- Partnership with Y Combinator, further expansion in USA
It’s the first Korean company accepted into the Y Combinator program recently this month .Y Combinator is an American seed accelerator, started in March 2005. Y Combinator provides seed money, advice, and connections at two three-month programs per year.
- Global expansion
Memebox has more than 100,000 users and is past the preparation stage, and is now ready to execute their global expansion strategy. After Japan, their next target market is Thailand, and later the rest of Southeast Asia..
Recommendations
- Expanding to retailers to sell Memebox
- Social media campaign to market within SEA
- Setting up virtual store near shopping malls, subway stations
