À̹ÌÁö È®´ë Kosdaq-listed shares of ecommerce name Cafe24 have been galloping away for a week after it joined multinational platform Facebook.
Cafe24 shares closed Tuesday up 3.2 percent at 63,800 won ($51.78) on the country¡¯s secondary Kosdaq market, maintaining the winning streak for seven straight trading days. The price more than tripled from the closing price of 20,500 won on March 19.
Shares are in correction Wednesday, losing 5.5 percent.
Founded in 1999, Cafe24 offers comprehensive online shopping site solutions ranging from designing to operating, delivery and marketing. It has about 5.7 million member accounts.
Facebook, the world¡¯s biggest social media company, last week announced that it has launched Facebook Shops to help businesses to set up a single online store for customers to deal with entire shopping process on both Facebook and Instagram ranging from browsing, placing an order, asking questions and tracking deliveries.
As part of this project, Facebook formed partnership with third-party platforms including Cafe24, Shopify, BigCommerce and Tienda Nube.
Through the partnership, Facebook will charge fees on purchases made at Facebook Shops and earn profits from advertisements appeared on those shops. Merchants using Cafe24 and other third-party platforms will merchandize, as well as manage products, inventory, orders within the platforms.
¡°With support from WatsApp and Messenger, Facebook is providing integrated shopping experience in return for advertising and fee profits,¡± said Kim Joong-han, an analyst from Samsung Securities.
Although the company recorded an operating loss of 2 billion won ($1.6 million) in the first quarter, market watchers expect it to return to profit in the second half.
By Kim Jung-beom and Choi Mira
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]