Seoul, South Korea - A South Korean version of a LinkedIn-like platform for business users, Remember by Drama & Company, announced its first monthly break-even point in July.
Why it matters:
It's an excellent opportunity to see how a business platform service based on a business card can be monetized, especially as the South Korean market is amid a significant startup scramble.
The Key Points:
- B2B revenue model: The company's B2B revenue model has driven growth, particularly in recruitment solutions, where revenue has tripled year-over-year, even in challenging market conditions.
- Recruitment Solutions: Remember Recruitment Solutions has leveraged tools such as AI recruiting assistants and enterprise managers to reduce the workload of corporate HR teams, driving growth in this sector.
- Advertising and Targeting: Despite a declining market, the platform's ability to target decision-makers and high-income employees has allowed it to grow as an advertising medium.
- Research solutions and expansion: There has been growth in research solutions and expert matching, while expansion into commerce and overseas markets marks new directions for the company.
The Big Picture
Drama&Company's achievement of the monthly BEP is the result of several strategic decisions in the areas of recruitment, advertising, and research.
The company's initiatives in these areas, along with expansion and technology integration, have positioned the company for sustainable growth.
The CEO's goal of exceeding KRW 100 billion (US$76 million) in annual revenue next year demonstrates the company's confidence in its continued progress.