Tokyo, Japan, June 9, 2010 - (JCN Newswire) - Piku Media KK, a pioneer in social commerce, today announced that J-Seed Ventures, a Tokyo-based venture incubator, has arranged an investment round of 150 million yen in the Company. The investment will be used to fund Piku's rapid nationwide expansion in Japan.
"We raised approximately 100 million yen earlier this year and are very pleased to have secured an additional 150 million yen so quickly bringing the total amount raised this year to approximately 250 million yen" remarked Dave Mori, CEO and co-founder of Piku. "It is reassuring to receive such strong financial backing and support from our existing domestic and international investors."
"We are pleased to assist in the financing of Piku and are thrilled to have the chance to continue working closely with such a strong management team to create Japan's leading social commerce service," said C. Jeffrey Char, representative director of J-Seed Ventures, Inc. "We view this as a huge opportunity and are extremely optimistic about the future of Piku."
About Piku Media KK
Piku Media KK was established in November 2004 and operates Japan's first discount coupon business leveraging group buying dynamics and social networks. Piku currently features a daily deal on attractive services and products in 47 areas throughout Japan. Piku uses collective buying power to offer unbeatable prices and provide a win-win for businesses and consumers. Piku plans to establish regional offices in Osaka and Fukuoka by the end of 2010. For more information about Piku, visit http://www.piku.jp/.
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About J-Seed Ventures Inc.
J-Seed is a Tokyo-based venture incubator and provider of management and technology consulting services. The Company maintains a close relationship with its various group companies and leverages its network to assist ventures to quickly attain profitability. The Company also assists foreign clients in establishing operations in Japan. For more information about J-Seed Ventures, visit http://www.j-seed.com.
Piku Media KK