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Aroundus launches job-searching service for freelancers, students
Korean startup Aroundus has rolled out an eponymous website for the talented, but often underrepresented in the job market, namely students and freelancers.The job-searching service is roughly tailored after existing platforms such as LinkedIn, but the similarities stop at the surface, according to founder and CEO Dan...
Berkeley Center’s Adam Sterling on future of VCs, startup ecosystem
[THE INVESTOR] Silicon Valley offers various myths on the success stories of startups and venture capitals.For instance, there is the story of a graffiti artist who painted the wall of Facebook’s first office. He received stocks of Facebook instead of cash which is now worth millions of dollars.And this might be one of the distinctions between the ecosystems in Silicon Valley and Korea, according to Adam Sterling, executive director of the Berkeley Center for Law and Business. Sterling brought a
Toss lands US$80m investment to become Korea’s first fintech unicorn
[THE INVESTOR] Viva Republica, operator of popular mobile payment app Toss, on Dec. 10 announced it has raised US$80 million funds, catapulting the Seoul-based fintech startup to a unicorn status with US$1.2 billion valuation. The latest round was led by Silicon Valley-based venture capital firms Kleiner Perkins and Ribbit Capital that are making their first investments in Korea with this deal. Existing investors, including Altos Ventures, Bessemer Venture Partners, Goodwater Capital, KTB Networ
Kakao’s Friends Games raises W22b
[THE INVESTOR] Friends Games, a game-developing subsidiary of Kakao Games, said on Dec. 6 it has raised a combined 22 billion won (US$19.69 million) in investments this year since its launch in February. Most recently, it secured 4 billion won by issuing 269,515 new shares and offer to Korea Investment Partners. The latest funds have given it a valuation of over 50 billion won, thanks to the popularity of mobile game “Friends Racing” that debuted in October. Earlier in April, Friends Games raise
Toss app operator to establish own brokerage
[THE INVESTOR] Viva Republica, the operator of popular mobile payment app Toss, said on Dec. 5 said it is planning to establish a brokerage to tap into securities trading and offer more financial services. “We have decided to establish our own brokerage, rather than acquiring another firm, in a move to jump into the securities trading market,” a spokesperson of Viva Republica told The Investor. However, she denied a local media report that Toss will file for a brokerage license this month with r
WeWork Korea to make Busan debut in April
[THE INVESTOR] Co-working space firm WeWork announced on Dec. 3 that it plans to open a new office in Bunsan, next year -- its first location outside of Seoul.The new WeWork space, scheduled to open in April, will occupy six floors of the Hyundai Card Busan building in Seomyeon area. Built in 2017, the credit card firm’s building is widely known for its sleek design and great amenities. It is equipped with diverse facilities such as a lounge and a projector, cafeteria and rooftop, all of which w
Honest Fund raises W12b additional investment
[THE INVESTOR] Honest Fund, a peer-to-peer personal loans and investment services provider, said on Dec. 3 it has raised 12.2 billion won (US$10.91 million) in Series B funding led by Dunamu & Partners and Murex Partners. Hanwha Investment & Securities and KB Investment who had earlier funded the firm joined the latest round, as well as TL Asset Management, Bass Investment and HB Investment. This brings the Seoul-based startup’s total funding so far to about 21.4 billion won. In 2016, Honest Fun
When ‘too many cooks’ create successful startups
[THE INVESTOR] This past June, Kim Tae-hyung finally achieved his long-held dream of running his own food business but with minimal risk.The one-man restaurant, Seoul Poke, specializes in Hawaiian food and runs 100 percent on takeout. There’s no dining area. What’s unusual about this new startup is that Kim saved massively on his initial investment by forgoing not just an eat-in venue but also the purchase of kitchen appliances, which together often account for a huge proportion of a new restaur
Toss wins top prize at The Investor’s Choice 2018
[THE INVESTOR] Mobile payment app Toss won the grand prize at The Investor’s Choice 2018 on Wednesday for offering a simple way for money transfers via smartphones to over 10 million users in Korea. The awards ceremony focusing on promising startups was hosted by The Korea Herald’s investment news platform, The Investor. Toss CEO Lee Seung-gun, who received the Quantum Award at the event held in Seoul, said his never-give-up spirit led accumulated transactions via the service to reach a whopping
December 13, 2018
