StockX in talks with Naver’s online reseller Kream to merge

Q: How long will it take to read this news story?

The story "StockX in talks with Naver’s online reseller Kream to merge" has 841 words across 40 sentences, which will take approximately 4 - 8 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "StockX in talks with Naver’s online reseller Kream to merge" was covered 5 hours ago by Korea Economic Daily, a news publisher based in South Korea.

Q: How trustworthy is 'Korea Economic Daily' news outlet?

Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news. The outlet is headquartered in South Korea and publishes an average of 7 news stories per day. It's most recent story was published 6 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #28171000</li><li>URL: https://citrocola.beamstart.com/news/stockx-in-talks-with-navers-17454113631455</li></ul>

Korea Economic Daily Logo Korea Economic Daily 5h ago

StockX in talks with Naver’s online reseller Kream to merge - Korea Economic Daily

Quick Summary:

StockX is said to be pinning high hopes on its marriage with Kream for great synergy after the Korean latecomer has successfully penetrated the online resale market faster than its rivals with a wide range of offerings.Kream acquired a 43.6% stake in SODA Inc., the operator of Japanese online secondhand shoe marketplace SNKRDUNK, for 97.6 billion won ($68.6 million) in 2023.

StockX, the world’s most popular online resale marketplace, is in talks to merge with Kream, a resale unicorn under South Korea’s tech giant Naver Corp., in a deal that could be a win-win for them through business diversification and expanded global reach.

According to sources in the investment banking industry on Wednesday, StockX and Kream are in negotiations to discuss their marriage in detail, in which the US resale platform will control the management of the Korean rival, and Naver, in exchange, will take over StockX's stake to become the latter’s second-largest shareholder.