Oasis said on the 17th that it has opened an Oasis Market store within Toss Shopping, the commerce service of mobile finance platform Toss. It is the first time Oasis Market has opened a dedicated store on an outside platform. The two companies signed an exclusive commerce partnership.
The Oasis Market store operates as a separate tab inside Toss Shopping. Users can buy about 7,000 products, including fresh food that Oasis Market purchases and sells directly, through the Toss app. Toss Shopping members do not need a separate Oasis Market account and can browse products, pay, track deliveries and submit customer inquiries entirely within the Toss app.
In-house promotions run by Oasis Market, such as discounts on items nearing their use-by date, apply equally on Toss Shopping. Product and inventory data are synced with Oasis Market in real time, and once an order is placed, Oasis Market ships it through the same logistics network used for its own online mall.
Oasis also approved a third-party allotment share issue of about 30 billion won to Toss. Under the arrangement, Toss will subscribe to newly issued Oasis shares, and Oasis plans to use the proceeds to add facilities and staff.
The deal valued Oasis at 1.3 trillion won before the investment. The company will issue 647,752 common shares at 46,314 won each, raising a total of 29,999,986,128 won. Once payment is completed, its post-investment valuation is expected to reach about 1.33 trillion won.
"We find it meaningful that Toss, a leading innovative platform in Korea, has given a high assessment of Oasis' fundamentals and future growth potential," an Oasis official said. "Based on close cooperation and strategic synergy between the two companies, we will combine our respective strengths and create new growth opportunities."
