Nikkei’s Sept. 25 morning edition reported earlier today that Tokyo-based Fablic, the startup behind Japanese flea market app Fril, has fundraised about 1 billion yen (or $9.2 million) from Japanese online recipe site Cookpad, gaming company Colopl, and VC firm Jafco. Fablic is earmarking the funds to enhance promotional activities with TV commercials as well as to hire in new employees.
Fablic, established in 2012, is a fourth batch graduate of Tokyo-based seed accelerator Open Network Lab. The company introduced a C2C (consumer to consumer) marketplace app in September 2012, an early entrant in the Japanese market which started its business about an year before Japan’s Mercari. ...continue reading...
The Bridge 9/25/2014 [en]
- Fril focuses on women by allowing only women to use the app. Its biggest competitor, Mercari is more widely used. Fril has 1.9 million downloads as of September, while Mercari already surpassed 5 million. Fril takes 10% margin from transactions, while Mercari has been free to use for both sellers and buyers. Mercari announced to start getting commission of the same ratio of 10% from October. It will become more interesting to see the competition of the two startups and also other big names including LINE MALL.