Oasis Market Becomes Unicorn... "Will Fully Focus on Strengthening Fundamentals"

[Asia Economy Reporter Yuri Kim] "It holds great significance in that we have been recognized with a corporate value exceeding 1 trillion KRW. Having established a solid structure that generates profits while maintaining healthy food products, we will focus on strengthening both online and offline channels and aim to increase our corporate value going forward."

On the 29th, An Junhyung, CEO of Oasis Market (photo), expressed his thoughts upon successfully raising 10 billion KRW in investment and becoming a unicorn (a private company valued at over 1 trillion KRW). Oasis Market announced that it had secured a total investment of 10 billion KRW, with 5 billion KRW each from Korea Investment & Securities and NH Investment & Securities the day before. Both securities firms are serving as the lead underwriters for Oasis Market's initial public offering (IPO). After the funds are deposited next month, the two securities firms will become shareholders of Oasis Market.

The corporate value recognized in this investment amounts to 1.01 trillion KRW. It surpassed 1 trillion KRW just one year and six months after its first investment round in April last year.

Oasis Market first raised 12.6 billion KRW from Korea Investment Partners in April last year. Subsequently, it secured additional investments from Kakao Investment (5 billion KRW), Must Ventures and Cornerstone-Pentastone PEF (15 billion KRW), and Unison Capital (50 billion KRW). The cumulative investment totals approximately 92.6 billion KRW. Including investment from its parent company, GeoSoft, the total reaches about 112.6 billion KRW.

An Oasis Market official stated, "Among dawn delivery companies, we are the only one recording profits, so the current valuation is considered not excessively high," adding, "It is unusual for the securities firms serving as joint lead underwriters for the IPO to directly invest." Oasis Market is planning to list on the domestic stock market in the second half of next year.

CEO An said, "We were highly evaluated for supplying good food centered on eco-friendly and organic products at reasonable prices, combined with logistics technology developed based on advanced software technology to efficiently operate online dawn delivery services," and added, "Being the only dawn delivery company to record profits and having a solid financial structure also earned us high marks."