serkan AT kantan-games.co.jp

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GMO Raises Fund For “Facebook Commerce”-Focused Startups [E-Commerce]

Another sign that Facebook Japan is becoming more and more visible: Tokyo-based Internet company GMO has raised (via their investment subsidiary GMO Venture Partners) a fund exclusively for startups working on e-commerce solutions on Facebook (“F-Commerce”).

Initially, GMO is ready to invest $670,000 in the so-called Social Ad&Commerce Technology Fund but says the sum could reach as much as $24 million.

The idea makes sense: As Facebook hasn’t reached critical mass in Japan yet, many brands, online stores and e-commerce companies in this country are still not familiar with the mechanics on the site.

The first company to receive money from GMO is Arcatana, which provides a shopping cart system for Facebook pages.

Via Japanese Venture News Clipping via Asiajin

Serkan Toto About Serkan Toto
I am the CEO & Founder of Kantan Games, Inc., a Tokyo-based game industry consultancy focused on the Japanese market. Please subscribe to updates on this site via RSS or Email.