Influencer marketing and entertainment company Gushcloud International has secured a US$3 million funding led by YG Investment, the investment arm under South Korean music label and entertainment agency YG Group.
Gushcloud Entertainment, one of the two business groups under Gushcloud International, aims to use the strategic investment to strengthen the group and expand into larger markets within Southeast Asia such as Indonesia, the Philippines and Vietnam. It will be investing into vertical based social media talent and content management companies focused on beauty, parenting, sports, music and gaming.
It is also forming a new company to create beauty content and cosmetic products with renowned global beauty content creators, as well as launch more intellectual property (IP) trade and consumer events across Southeast Asia. Additionally, YG will also set up its Southeast Asian headquarters within Gushcloud's head office based in Singapore. The move will see YG collaborating closely with Gushcloud to establish a footprint in the region.
“Gushcloud Entertainment is committed to working with partners across Southeast Asia in building 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,” Althea Lim, CEO of Gushcloud Entertainment, said.
According to Charlie Cho, head of YG Plus SEA (Singapore) branch, Southeast Asia residents are huge consumers of Korean pop culture. As such, YG aims to leverage on Gushcloud's presence in Southeast Asia to export more of the company's assets and acts into the region.
“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 South Korea and Southeast Asia,” Cho added.
Gushcloud Entertainment manages social media influencers and talents worldwide. Business units under the group include talent management and representation, beauty content and commerce, as well as digital video and content pieces. In July this year, Gushcloud reorganised its global business into two business groups - Gushcloud Entertainment and Gushcloud Agency. The move saw Ng Siang Hiang assume the role of CEO of Gushcloud Agency, taking over from Lim. Both groups are housed under Gushcloud's holding company brand Gushcloud International.