From 2022 to March, Q10 has aggressively acquired several domestic and foreign

1. From 2022 to March, Q10 has aggressively acquired several domestic and foreign e-commerce companies, including Timon (September 2022), Interpark Commerce (March 2023), Wemakep (April 2023), U.S. online shopping mall Wish (February 2024), and AK Mall (March 2024).      

2. Many of these transactions were made by exchanging shares of the acquired company for shares in Quiten or its subsidiary QExpress, instead of paying the acquisition in cash.

3. The second and third largest shareholders of Q10 following Koo Young-bae are corporations with somewhat unfamiliar names, Monster Holdings (25.6%) and Wonder Holdings (18%). Monster Holdings is an existing investor of Timon, and Wonder Holdings is an existing investor of WeMakePrice.

4. KKR and Anchor PE first invested in Timon in 2015. It acquired a 59 percent stake in Timon from Groupon for about 380 billion won to secure management rights of the company. In 2021, it made an additional investment of 305 billion won in PS Alliance Consortium (Timon Global) and Timon to increase its stake.

5. And in 2022, investors such as KKR and Anchor PE handed over all of Timon's shares to Quten Group. The total sale price is reported to have been around 200 billion won. It is less than the 380 billion won paid when acquiring 59% of Timon's stake in 2015.    

6. Wonder Holdings, the third largest shareholder of Quiten Singapore, is an investment and real estate business specialized corporation established by Herman, CEO of Wonder Holdings, the founder of Wemakeff. In April 2023, Quiten acquired all (86.2%) of Wemakeff's shares held by Wonder Holdings. By exchanging the shares of Wemakeff for Quiten and Q Express shares.    

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