WiderPlanet Acquires IBL... Expecting Big Data and Commerce Synergy

[Asia Economy Reporter Park Hyungsoo] Wider Planet, an AI and big data-based marketing platform company, has acquired management rights of commerce company IBEL.

IBEL, established in 2013, is a platform-type media commerce company that owns platforms such as Living Pick, iBeauty Lab, Health24, Dasoni, and Nutripol. IBEL recorded sales of 24.8 billion KRW last year. It is evaluated as a company with high growth potential due to its internal capabilities, including an increase in repeat customers and reduced dependence on specific portals.

Wider Planet, which entered the KOSDAQ market in February, expects accelerated growth through the acquisition of IBEL. While testing and advancing Wider Planet's new solutions on the commerce platforms operated by IBEL, the commerce platforms plan to increase sales based on Wider Planet's AI and big data capabilities.

Goo Kyosik, CEO of Wider Planet, said, "Based on the capabilities accumulated in the B2B platform sector through big data and machine learning, we will expand our business to B2C commerce," and added, "We expect synergy to be created by the meeting of IBEL, which has solid commerce capabilities, and Wider Planet, which possesses the best domestic technology in the data sector."

Founded in 2010, Wider Planet is a marketing platform company based on big data and AI. It holds approximately 43 million pieces of anonymized personal data. The number of consumer behavior page views (PV) processed monthly reaches 210 billion. Wider Planet analyzes consumer behavior based on big data and recommends products with a high probability of purchase.