Memebox is a Seoul based consumer ecommerce start-up that sells Korean and some international cosmetics brands all at discounted prices. The products include skincare items, perfumes, organic based products and various other cosmetics. The company's headquartered in San Francisco, California and has offices in Korea, China, the US.
History
Memebox was founded in 2012 by CEO Hyungseok Dino Ha and COO Doin Kim in Seoul, South Korea. In 2014 Memebox launched its private-label cosmetics brand and also launched new iOS and Android mobile apps.
Memebox initial funding began with $1.5 million in venture funding for US expansion. It raised Series B funding of $29.35 million in 2015 from investors include Y Combinator, AME Cloud Ventures, Formation 8, Goodwater Capital, Pejman Mar Ventures, Winklevoss Capital, Cowboy Ventures, FundersClub and Altos Ventures. Funding used to expand its mobile and e-commerce market in China, the US and Korea. In 2016, MemeBox closed on $65.95 million in series C funding.
It creates a partnership with YouTube stars to create exclusive collections. These collaboration bridge the gap between American and Asian cosmetics.
In December 2016, Memebox raised $60 million in a Series C extension from existing investors Goodwater Capital, Altos Ventures, Cowboy Ventures, Mousse Partners, Formation Group, Funders Club, Pear Ventures, Cota Capital, and Janet Gurwitch, among others.