Viva Republica to take 2.3% stake in Oasis via 30 billion won issue
Toss operator Viva Republica plans to acquire a 2.3% stake in Oasis through a roughly 30 billion won rights issue.
Viva Republica, the operator of Toss, plans to acquire a 2.3% stake in Oasis through a rights issue worth roughly 30 billion won, according to ZDNet Korea.
Oasis opened an "Oasis Market exclusive store" within Toss Shopping in September and began selling fresh food there.
The arrangement between the two companies follows the partnership model used for Naver's Kurly N Mart, pairing a platform operator with a grocery partner.
Grocery e-commerce scale
Domestic online grocery transaction value grew from 17.17 trillion won in 2019 to 52.3 trillion won last year, according to the National Data Office. Online fresh food transaction value grew at an average annual rate of 25.5%, and online accounts for about 28% of the total food retail market.
Naver additionally invested 33 billion won in Kurly in May this year, following an investment last year. Naver's app has about 46.84 million monthly active users, more than double Toss's 21.63 million.
Quick answers
How much is Viva Republica's rights issue for an Oasis stake?
Viva Republica plans a rights issue of roughly 30 billion won to acquire a 2.3% stake in Oasis.
What did Oasis launch on Toss Shopping?
In September, Oasis opened an "Oasis Market exclusive store" within Toss Shopping and began selling fresh food.