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The key to Yahoo!'s Internet strategy is to make strategic investments – such as its deal with Alibaba in China.
The latest deal for Yahoo? An investment for 10% of GMarket, which is a leading etailer focused on the South Korean Market.
What's more, last night, GMarket filed its prospectus with the SEC to go public.
GMarket has more than 1.7 million products for sale on its web site. In the first quarter of 2006, the company had revenues of $72.4 million and net income $1.99 million.
Korea has one of the most advanced Internet infrastructures. About 68.4% of Korea's total population, or 33 million people, are Internet users.
According to Gmarket's prospectus: "The ability to reach a large number of customers at a relatively low cost has made retail e-commerce an attractive sales and marketing channel."
And, now Yahoo! has a seat at the table of a market that is expected to grow at a rapid clip for years to come.
Links:
Reuters -- Yahoo to buy 10 pct stake in S.Korea's Gmarket
SEC Prospectus -- GMarket
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