22 Jan YuuZoo Strengthens Top Management Team by Hiring Former President & Director of New Market Development at Rakuten, One of the World’s Largest E-Commerce Companies
Rio Inaba, former member of the CEO’s Office at Rakuten’s Head Office in Tokyo, Japan and former President & Director of New Market Development, joins YuuZoo in new position of Chief Revenue Officer.
Rakuten is Japan’s largest and one of the world’s largest e-commerce companies, with 2013 net revenues of US$5.3 billion and GTV (gross transaction revenue) of US$50 billion.
YuuZoo to continue to hire top talent from leading global companies in e-commerce, social networking, payments and games.
Singapore, January 22nd 2015: Singapore-based YuuZoo Corporation (“YuuZoo” SGX: AFC), the world’s first third generation social e-commerce company is pleased to announce the appointment of Rio Inaba, former member of the CEO’s office at Rakuten’s Head Office in Tokyo, Japan and Rakuten’s former President & Director of New Market Development, as Chief Revenue Officer.
The appointment of Rio Inaba adds significant global knowhow and expertise in e-commerce, one of YuuZoo’s four focus areas and its expected main revenue generator, and further strengthens YuuZoo’s already strong top management team. Rakuten, founded in 1997, is Japan’s largest and one of the world’s largest e-commerce companies, with net revenues in 2013 of US$5.3 billion and Gross Transaction Revenue (“GTV”) of US$50 billion GTV. Rakuten has a market capitalisation of approximately US$19 billion. Rakuten offers Internet Services and Internet Finance. The Internet Services segment deals with advertising and content sales in online shopping malls, e-commerce sites, hotel reservation sites, and portal sites. The Internet Finance segment handles banking and securities, credit card related services, and electronic money (e-money) businesses.
Prior to his appointment as a member of the CEO’s Office at Rakuten’s Head Office in Tokyo, Japan in 2014, Rio Inaba was Rakuten’s President and Director of New Market Development. Prior to that, he built Rakuten’s Indonesian business from scratch into the leading e-commerce company in Indonesia. He exceeded targets with solid triple digit growth during three consecutive years from 2011 to 2013, with Rakuten offering over 10 times more products than the second largest e-commerce company in Indonesia.
Commenting on the appointment of Rio Inaba, Mr. Thomas Zilliacus, Chairman and CEO of YuuZoo, said, “I am very pleased to see a top executive join us from a global market leader. YuuZoo is building a very strong management team with vast international experience and a very strong proven track record, with senior members who have built and managed leading global billion-dollar companies. We will continue to look for and hire top talent in all areas, as we build YuuZoo into an international market leader. We welcome Rio to the YuuZoo family and look forward to working with him in expanding and growing an already profitable business.”
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Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 85 million registered users in 164 countries, YuuZoo in a unique way combines social networking and e-commerce in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com or www.yuuzoo.cn. For more information about the company, please log on to: www.yuucorp.com.
Macquarie Capital (Singapore) Pte. Limited (“Macquarie”) was the financial adviser to W Corporation Limited (now known as YuuZoo Corporation Limited) in relation to the acquisition of the entire issued and paid-up share capital of YuuZoo Corporation and its subsidiaries.