Gushcloud International, a global talent agency group focused on marketing and entertainment, has raised USD11 million in latest series led by GDP Ventures. Other investors were financial giants, KB Investments (KB Financial Holdings), Golden Equator Capital and Korea Investment Partners (via GEC-KIP Fund), Kejora Ventures, and individual investors including Russell Simmons of Rush Communications.
In line with its aggressive next phase of growth, the group has announced key movements in its leadership team with co-founders, Althea Lim and Vincent Ha promoted to Group CEO and Chairman of the Board respectively. It was also revealed that American entrepreneur and hip-hop mogul, Russell Simmons will be taking on the role of President of the Group, tasked to build an international roster of digital talents for export into Asia.
“There is a gap in the market for effective talent representation of the West in the East and vice versa that Gushcloud International is uniquely positioned to bridge. By doing so, we can bring people of different cultures with similar lifestyle aspirations and goals closer together. This will create a powerful effect on fashion, film, television, music, sports and even politics,” said Simmons.
Gushcloud’s plan for global expansion begins with two major markets, China and the United States of America. The group also shared that it will continue to expand its reach and influence in key Asian countries, particularly Philippines and Indonesia.
“America is home to the world’s biggest talents and brands, while China to the world’s key platforms, technologies, and largest world audience. With the new investors and partners that have come on board, we can capitalize on our unique network of talents and offices as well as our cultural intelligence to achieve significant growth for the company in the coming years,” said Ha. According to consulting group Analysys International, the China influencer economy was worth more than US$15.5 billion in 2018 and it is estimated that over 70% of marketers will be increasing their budgets in this space in the coming years.
In the Philippines, influencer marketing continues to grow exponentially, fueled by the Filipinos’ increased use of social media platforms and preference for customized content versus outright advertising. There is also the rise of nano and micro influencers who are seen to have a more defined and engaged audience. Several brands have reported success in their use of these new breed of influencers, saying they produce more authentic content and are more cost efficient.
“Last April 2019, we launched our micro influencer network Ribbit to cater to the rising significance of micro influencers,” said Ferlan Farinas, Country Director of Gushcloud Philippines. “Influencer marketing is ever-evolving, and we need to evolve with it to better meet the needs of our clients. In the future, we not only look to grow both our local and international database, but also execute more data-driven influencer-led campaigns.”
Gushcloud International is one of the early pioneers in the influencer space, originally launching itself in Asia as an influencer and brand matching platform. In 2012, it pivoted to become an influencer marketing agency and further evolved into a digital talent agency group focused on building out sustainable revenue streams for top digital talents, influencers, and content creators. In 2015, Gushcloud International opened its Philippine office after seeing the country’s propensity for influencer-generated content. Most recently, its founders announced the full buyback of its shares from Yello Digital Marketing Group, regaining full control of the company to concentrate its efforts in becoming a global key player in the digital talent, influencer marketing, and social commerce industries
About Gushcloud International
Gushcloud International is a holding company that operates as a global influencer marketing, talent and entertainment agency that connects audiences and brands to influencers and content creators through representation and management, brand strategy and activations, marketing and activation services, media production sales and distribution, licensing and co-creating signature events.
It has three units: the Gushcloud Marketing Group, the Gushcloud Talent Agency, and the Gushcloud Entertainment Group. The company stands 300 employees strong with offices across 10 countries namely Singapore (headquarters), China, the United States of America, Indonesia, Thailand, Philippines, Malaysia, South Korea, Japan, and Vietnam.
