Influencer marketing and entertainment company Gushcloud International has raised $3 million (S$4.05 million) from YG Investment to expand its newly-formed entertainment group called Gushcloud Entertainment.
If YG Investment sounds familiar, that’s because it’s the investment arm of South Korea’s YG Group, which is a leading music label and entertainment company responsible for groups like BIGBANG, 2NE1 and iKON.
Gushcloud Entertainment – which is headquartered in Singapore – is headed by CEO Ms Althea Lim.
In a statement, Gushcloud says the group manages top social media influencers and talents globally, with a focus on creating influencer, celebrity and talent-led intellectual property or content.
As part of its expansion plans, Gushcloud Entertainment aims to grow the group within Southeast Asia, eyeing larger markets like Indonesia, the Philippines and Vietnam.
Within these markets, it will invest in vertical-based social media talent and content management companies focused on beauty, parenting, sports, music and gaming.
The group is also building a new company to create beauty content and cosmetic products with top global beauty content creators.
YG is also looking at setting up its Southeast Asian headquarters within the same premises of Gushcloud’s head office at Anson Road, added the statement.
Ms Lim said: “Gushcloud Entertainment is committed to working with partners across Southeast Asia in building out the entertainment ecosystem to create more cross collaborations between influencers and content creators who are the new celebrities in today’s age.”