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June 07, 2020

Tmon pushes the envelope, plans IPO

PUBLISHED : April 02, 2020 - 15:54

UPDATED : April 02, 2020 - 15:54

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 South Korea’s Tmon announced on April 2 that it posted its first monthly operating profit in 10 years, and plans to get listed next year.

The firm recorded 160 million won ($130,000) operating profit last month, becoming the first local e-commerce platform operator to be in the black.

The improvement in revenue began to materialize since the fourth quarter of last year, and will hopefully continue, a company official said.


 

Inside Timon’s headquarters



Tmon this year has seen a 44 percent increase in the number of customers who make purchases for two consecutive months on its platform.

The average sales of its top 10,000 partner companies also increased by 23 percent between January and February, while the number of partner companies increased by 46 percent this year.

Tmon aims to be profitable this year, while pushing ahead with an IPO next year.

By Shim Woo-hyun(ws@heraldcorp.com)

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