About Must It
Must It is a company based in Seoul (South Korea) founded in 2011 by Cho Yongmin.. Must It has raised $39.12 million across 3 funding rounds from investors including CJ ENM, Kakao Investment and IMM Korea. Must It operates in a competitive market with competitors including Coupang, Tmon, OliveYoung, Gmarket(eBay Korea) and 11st, among others.
- Headquarter Seoul, South Korea
- Founders Cho Yongmin
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Must-It Co., Ltd.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$39.12 M (USD)
in 3 rounds
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Latest Funding Round
$15 M (USD), Series B
Jun 14, 2022
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Investors
CJ ENM
& 5 more
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Employee Count
Employee Count
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Funding Insights of Must It
Must It has successfully raised a total of $39.12M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $15 million completed in June 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $15.0M
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First Round
First Round
(21 Jul 2020)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2022 | Amount | Series B - Must It | Valuation |
investors |
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| May, 2021 | Amount | Series A - Must It | Valuation | Kakao Investment |
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| Jul, 2020 | Amount | Series A - Must It | Valuation | IMM Investment , K2 Investment Partners |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Must It
Must It has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include CJ ENM, Kakao Investment and IMM Korea. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital is directed toward software, fintech, and commerce sectors.
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Founded Year | Domain | Location | |
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Growth stage companies are targeted for private equity investments.
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Founded Year | Domain | Location | |
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Early-stage venture capital arm of SoftBank Group
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Must It
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Must It
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Must It Comparisons
Competitors of Must It
Must It operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Coupang, Tmon, OliveYoung, Gmarket(eBay Korea) and 11st, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multi-category consumer products are sold via an online marketplace.
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| domain | founded_year | HQ Location |
Multi-category products are retailed online by Tmon.
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| domain | founded_year | HQ Location |
Runs an online retail platform with products across various categories.
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| domain | founded_year | HQ Location |
Products in diverse categories are offered through an e-commerce platform.
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| domain | founded_year | HQ Location |
Hosts a digital marketplace for various consumer goods categories.
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| domain | founded_year | HQ Location |
Online retailer offering multi-category artisanal products
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Must It
Frequently Asked Questions about Must It
When was Must It founded?
Must It was founded in 2011 and raised its 1st funding round 9 years after it was founded.
Where is Must It located?
Must It is headquartered in Seoul, South Korea.
Who is the current CEO of Must It?
Cho Yongmin is the current CEO of Must It. They have also founded this company.
Is Must It a funded company?
Must It is a funded company, having raised a total of $39.12M across 3 funding rounds to date. The company's 1st funding round was a Series A of $12.46M, raised on Jul 21, 2020.
What does Must It do?
Must It was established in 2011 and is headquartered in Seoul, South Korea. Operations focus on e-commerce retail across diverse categories, including apparel, bags, footwear, accessories, jewelry, kidswear, electronics, kitchen items, beauty products, and food. Products are supplied to customers targeting men, women, and children through the domain mustit.co.kr, with Cho Yongmin serving as founder and CEO.
Who are the top competitors of Must It?
Must It's top competitors include Coupang, Tmon and Gmarket(eBay Korea).
Who are Must It's investors?
Must It has 6 investors. Key investors include CJ ENM, Kakao Investment, IMM Korea, K2 Investment Partners, and unknown.