• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • KTO
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • SGSC Global Bootcamp 2021
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • SGSC Demo Day
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • register
  • login
KoreaTechDesk
No Result
View All Result
KoreaTechDesk
No Result
View All Result
Home Investments

2019 Cheer: One more Korean Startup Woowa Brothers joins the ‘unicorn’ billionaire club

KoreaTechDesk Writer by KoreaTechDesk Writer
June 22, 2020
in Investments, Marketplaces & E-commerce
9
2019 Cheer: One more Korean Startup Woowa Brothers joins the ‘unicorn’ billionaire club
0
SHARES
955
VIEWS
Share on FacebookShare on Twitter

Woowa Brothers, the startup that operates the leading food delivery app of South Korea ‘Baedal Minjok’, joins the ‘unicorn’ billionaire club with the latest investment from global firms. Woowa Brothers secured investments worth US $320 million in December 2018 taking the company’s valuation to over US $1 billion.

Giant backing from Global investors

The startup got its latest funds from private equity firm Hillhouse Capital, US-based Sequoia Capital and GIC, Singapore’s sovereign wealth fund. While Hillhouse Capital is an investor known for investing in top Chinese technology firms including Tencent and Baidu, Sequoia Capital was an early investor in global tech giants like Google Inc and Apple Inc.

“The funding by globally prominent investors carries much significance,” said Woowa Brothers Executive Vice President and Chief Strategy Officer Oh Se-yoon in a media statement. The company with its latest valuation of around US $2.66 billion becomes the second Korean startup after Viva Republica to reach the ‘unicorn’ milestone in 2018.

The company said with the latest investments they will put more efforts for global expansion and launching new businesses such as developing autonomous robots.  The startup has been investing in Artificial Intelligence and Autonomous Driving technology to develop delivery robots. Woowa Brothers also has plans to start its food delivery app in Vietnam in the first half of 2019.

“We will continue to strive to not only deliver greater value to both restaurant owners and users but also focus on moving forward with our new businesses, ” Oh Se-yoon told media.

At the Top of the ‘Food delivery App’ Chain

Woowa Brothers, which was founded in 2010, with the aim to develop interesting and useful apps, had started the food delivery platform Baedal Minjok. The food delivery app is quite popular in Korea per a report that 7 out of 10 people order food via apps. Baedal Minjok’s monthly number of orders reached over 20 million in July 2018, growing from 5 million in early 2015. The app also has seen an increase in the number of monthly active users from 3 million to 8 million during the same period.

Woowa Brothers has had several series of large investments in the past, including 57 billion won or US $50.7 million from the current investor Hillhouse Capital. In 2014, Goldman Sachs put in 40 billion won or US $35.6 million in the firm.

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: AltosVenturesArtificial IntelligenceFoodFood Delivery AppFood TechInvestmentKoreanStartup
Previous Post

KakaoPage acquires a major stake in Indonesian webtoon company Neobazar

Next Post

Korean startup RemoteMonster makes video broadcast management easier with WebRTC technology

Next Post
Korean startup RemoteMonster makes video broadcast management easier with WebRTC technology

Korean startup RemoteMonster makes video broadcast management easier with WebRTC technology

0 0 votes
Article Rating
Subscribe
Login
Notify of
Please login to comment
9 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback
Cupra Formentor Forum
2 months ago

… [Trackback]

[…] Info on that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
call girls
2 months ago

… [Trackback]

[…] Information to that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
most reliable psilocybin mushroom seller
2 months ago

… [Trackback]

[…] Find More on that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
Dark Net
2 months ago

… [Trackback]

[…] Find More on that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
토토굿게임
1 month ago

… [Trackback]

[…] Read More on to that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
sbobet
1 month ago

… [Trackback]

[…] Read More to that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
epilepsy and cbd
24 days ago

… [Trackback]

[…] Read More on to that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
how to make cornhole boards
7 days ago

… [Trackback]

[…] There you will find 9751 more Information on that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
trackback
dewaqq
1 second ago

… [Trackback]

[…] Here you will find 17871 more Info on that Topic: koreatechdesk.com/2019-cheer-one-more-korean-startup-woowa-brothers-joins-the-unicorn-billionaire-club/ […]

0
No Result
View All Result

Follow Us

FREE NEWSLETTER

Ecosystem Partners




PRODUCTS

Most Popular

  • 10 K-Dramas to watch for some ‘money matters’

    0 shares
    Share 0 Tweet 0
  • Top Korean Dating apps that can help you make new connections in South Korea

    1 shares
    Share 0 Tweet 0
  • Korean startups to showcase technological proficiency at CES 2023 from January 5 to 8 in Las Vegas 

    0 shares
    Share 0 Tweet 0
  • Korean hospitality tech startup Onda attracts over $9 million in investment

    0 shares
    Share 0 Tweet 0
  • Three Restaurant Apps to try out for a fine dining experience in South Korea  

    9 shares
    Share 9 Tweet 0
  • Korean webtoon ‘Lookism’ creator ‘The Grim Entertainment’ attracts $9.1 million investment

    0 shares
    Share 0 Tweet 0
  • Korean startups creating the K-Beauty buzz worldwide

    11 shares
    Share 11 Tweet 0
  • Seoul Robotics aims for an IPO in 2025, post-Series B funding of $ 25 million

    0 shares
    Share 0 Tweet 0
  • Korean Webtoon companies that are giving the audience addictive content

    15 shares
    Share 0 Tweet 0
  • Korean vegan food tech startup Join&Join shows 120% annual sales growth for brand Nuldam

    0 shares
    Share 0 Tweet 0
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KTO
    • KOTRA
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

wpDiscuz
9
0
Would love your thoughts, please comment.x
()
x
| Reply

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback

dgdfgfdgdf

What you think about Koreatechdesk, Share your idea with us!

feedback popup

Invitation submission has been closed

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.