Kurly received an additional 33 billion won investment from Naver.
Kurly announced on the 6th that it decided on a third-party paid-in capital increase of 33 billion won with Naver as the subscriber. The new shares to be issued are 498,882 common shares, and the issue price is 66,148 won per share.
Naver will acquire all of the new shares issued this time. Naver's equity stake in Kurly will expand to 6.2%. The two companies said they plan to further strengthen their strategic partnership with this investment.
The issue price was set by mutual agreement based on Kurly's recent funding round. This recognizes Kurly's corporate value at about 2.8 trillion won.
Kurly plans to use the funds secured through the paid-in capital increase as resources to reinforce medium- to long-term growth, including expanding logistics infrastructure and pushing new businesses.
Kim Seul-ah, Kurly's CEO, said, "With this investment as a starting point, we will further strengthen cooperation between the two companies and achieve tangible synergies and rapid growth."
Kurly and Naver have been operating "Kurly N Mart" within Naver's shopping platform since forming a strategic alliance last year. Kurly's logistics subsidiary, Kurly Nextmile, handles dawn delivery for products from Naver Smart Store and Brand Store.