November 26, 2018

Triangle Business Journal

Partnership expands ChannelAdvisor reach in Asia

Morrisville-based ChannelAdvisor is forming a “strategic partnership” with a South Korean e-commerce company. The deal is more evidence of the global brand it’s trying to create, according to Scott Berg, an analyst with Needham & Company. 

Seoul-based Interpark Holdings Corporation is “just another market place” on the surface, like Amazon or eBay. But, unlike those markets, it’s based in South Korea, and represents ChannelAdvisor’s first foray into that country.

“What it does is it continues to highlight the value that ChannelAdvisor’s platform has, because it’s connecting with every significant marketplace around the world,” he says. “If you’re a retailer or a brand … this is a one-stop shop. That’s essentially what they’re trying to create.” 

Interpark CSO Tae Shin Lee said in a statement the deal connects its 28 million members to ChannelAdvisor. 

“We’ve built a successful online marketplace through our Cross Border Trading program for U.S. sellers, which includes logistics, customer service and translation,” he stated. “Our platform and business model align perfectly with ChannelAdvisor’s ability to manage complex data sets for U.S.-based brands and retailers, helping them to excel in the Korean market.” 

Interpark, he adds, has 30,000 active sellers on its marketplace. 

Through ChannelAdvisor (NYSE: ECOM), brands and retailers can access more than 111 marketplaces, as well as its suite of analysis and advertising tools. 

Paul Colucci, ChannelAdvisor's vice president of global business development, stated the deal creates an opportunity for retailers “to significantly expand their presence in South Korea.” 

Read more: https://www.bizjournals.com/triangle/news/2018/11/26/partnership-expands-channeladvisors-reach-in-asia.html