Five Jack (fivejack.com), a company that operates an e-commerce game platform called itemku (itemku.com) for gamers in Indonesia, recently raised an additional investment of USD 1.2 million.
On April 10th 2017, Five Jack announced to have raised investments from 500 Startups and Korean venture capitals, an addition to investments made by BonAngels in 2014 and 500 Startups in 2015. This adds to an accumulated total investment of nearly USD 1.7 million.
Denis Kim, CEO of Five Jack, commented that itemku’s rapid growth averaging 30% a month is what attracts new and existing investors to back the company. “Our team has extensive experience in the local game market in Indonesia and Southeast Asia, an industry that has high growth potential in the near future.”
With a population of 250 million, Indonesia is an emerging market where the e-commerce-based tech industry has been growing rapidly in the past few years.
Five Jack was founded in South Korea and Indonesia in 2013 and currently operates game e-commerce platform, itemku, in Indonesia.
In March, Five Jack launched a trial version of gokil (gokil.me), a service developed to identify the potential development of game community in Indonesia. The service is building on the existing customer base of hardcore gamers that itemku has secured.
In the second half of 2017, Five Jack plans to expand its presence in Southeast Asia while keep growing their business in Indonesia.
“Indonesia, where Five Jack is currently focusing its business efforts on, is a market with great potential. Success in Indonesia directly depends on the company’s ability to localize its business and tailor their service to adapt to the local market. I expect Five Jack to grow and become one of the top game communities, not only in Indonesia, but also in Southeast Asia in general,” said Kim-Jong-kap, Chief Executive Director of K-ICT Born2Global Centre, a startup incubator in South Korea.
More information about Five Jack, including recruitment information, can be found on the company’s website (fivejack.com).