01.05.22
B2LiNK Corporation, a global purveyor of Korean beauty (K-Beauty) brands, has agreed to acquire Picky Inc., a digital skin care community app embraced by K-beauty enthusiasts worldwide, with an anticipated close by end January 2022.
This acquisition enables B2LiNK to bolster its leadership position and global lineup of beauty brands and helps Picky to leverage B2LiNK’s network and resources to further expand its community base and global reach.
As a leading online B2B K-Beauty platform based in Seoul, South Korea, B2LiNK excels at identifying top K-Beauty companies with proven, innovative products and grooming them into global brands through retail and marketing leadership. To date, B2LiNK has extended its portfolio to include seven brands that have surpassed $30 million ARR in 2021. Its brand business has grown more than 300 percent over the past two years, with 90 percent of its revenue coming from outside South Korea. Its flagship brand, <Skin1004> is expected to wrap up 2021 with $25 million revenue and $4 million profit.
“K-beauty is a global phenomenon. There is a seemingly endless pool of unique indie brands relevant for global beauty consumers, and we have access to established distribution channels to meet the demand for K-Beauty products everywhere,” said Nate Sohyung Lee, B2Link’s co-founder and CEO. “We’re helping K-Beauty products become much more accessible in more markets through our deep experience in the retail business and world-class global marketing team. With the Picky acquisition, we’ve strengthened our team and firmly established our No. 1 market position in Korea.”
As part of the acquisition, Picky founder and CEO Jihong Lee will join B2LiNK as chief marketing officer and board member, leveraging his career experience that spans international roles with Google and Supercell.
“In what has been a challenging time for startups worldwide, we’re proud to have gained an avid following of hundreds of thousands of regular users in our skincare community,” said Lee. “Our team set our sights on the global marketplace on day one, and the opportunity to keep that momentum going with the resources behind B2LiNK is the perfect match.”
Through this acquisition, Picky aims to build on its community base of more than 250,000 global users and growth throughout 2021. B2LiNK sees the synergy with Picky’s offerings as one that helps source up-and-coming brands looking to generate interest with skincare enthusiasts in the space, leveraging Picky’s proprietary data powered by its community.
This acquisition enables B2LiNK to bolster its leadership position and global lineup of beauty brands and helps Picky to leverage B2LiNK’s network and resources to further expand its community base and global reach.
As a leading online B2B K-Beauty platform based in Seoul, South Korea, B2LiNK excels at identifying top K-Beauty companies with proven, innovative products and grooming them into global brands through retail and marketing leadership. To date, B2LiNK has extended its portfolio to include seven brands that have surpassed $30 million ARR in 2021. Its brand business has grown more than 300 percent over the past two years, with 90 percent of its revenue coming from outside South Korea. Its flagship brand, <Skin1004> is expected to wrap up 2021 with $25 million revenue and $4 million profit.
“K-beauty is a global phenomenon. There is a seemingly endless pool of unique indie brands relevant for global beauty consumers, and we have access to established distribution channels to meet the demand for K-Beauty products everywhere,” said Nate Sohyung Lee, B2Link’s co-founder and CEO. “We’re helping K-Beauty products become much more accessible in more markets through our deep experience in the retail business and world-class global marketing team. With the Picky acquisition, we’ve strengthened our team and firmly established our No. 1 market position in Korea.”
As part of the acquisition, Picky founder and CEO Jihong Lee will join B2LiNK as chief marketing officer and board member, leveraging his career experience that spans international roles with Google and Supercell.
“In what has been a challenging time for startups worldwide, we’re proud to have gained an avid following of hundreds of thousands of regular users in our skincare community,” said Lee. “Our team set our sights on the global marketplace on day one, and the opportunity to keep that momentum going with the resources behind B2LiNK is the perfect match.”
Through this acquisition, Picky aims to build on its community base of more than 250,000 global users and growth throughout 2021. B2LiNK sees the synergy with Picky’s offerings as one that helps source up-and-coming brands looking to generate interest with skincare enthusiasts in the space, leveraging Picky’s proprietary data powered by its community.
