Most of them grew their business by selling services to ‘fellow startups’ and then expanded their reach to large corporations. On the other hand, there are still no B2B companies among Korean unicorns (11). Siwon Choi, CEO of Channel Corporation, said, “The advantage of small and medium-sized businesses using SaaS is that they can focus on their core business capabilities. “This market is expected to continue to grow in Korea as well.” Channel Corporation, which operates the business messaging platform ‘Channel Talk’, is solidifying its position in the software as a service (SaaS) market. It has expanded into Japan, a market that is more than twice as large, and is continuing to grow rapidly. Channel Corporation, established in 2014, is a startup that operates Channel Talk, an all-in-one business messenger that integrates consultation, marketing, and team messenger. We provide B2B SaaS to small and medium-sized businesses (SMBs) to help them communicate with customers through the web or mobile app.
Channel Talk is characterized by allowing
Consultation, marketing, and work to be done in one tool. It is evaluated as an efficient UAE Email List way to change the business environment, where consultations are done over the phone, exchanges and returns are done on the bulletin board, and communication between employees within the company is done through KakaoTalk. Channel Talk grew 5 times in 2018 and continued to grow 3.1 times last year. The goal is to grow threefold this year as well. Channel Talk was not Channel Corporation’s main business model from the beginning. For several years after establishment, we focused on operating ‘WalkInsight’, an analysis service for offline store visitors. Walk Insight is a solution that can analyze traffic volume, visitors, and length of stay in front of the store through smartphone Wi-Fi or Bluetooth signals. By identifying trends through analysis data, you can create sales strategies and use them for marketing. However, there is a limitation in that it must operate only at offline stores.
The business axis shifted to
Channel Talk in 2018. Potential demand for Channel Talk can be found in the Latvia WhatsApp data search advertising market. The domestic related market size amounts to 4 trillion won. In order to focus on Channel Talk, the company’s name was recently changed from Joy Corporation to Channel Corporation. As we started focusing on Channel Talk, we successfully attracted investment. After raising 2.5 billion won last year, the company also raised 2.5 billion won in March this year. Venture capitals such as KB Investment, Atinum Investment, and Laguna Investment were listed as investment companies. KB Investment and Laguna Investment followed-on (follow-up investment) and established themselves as a support for Channel Corporation. Those who discovered Channel Corporation at Korea Investment Partners moved to KB Investment and Ragu Investment, respectively, and continued investing. The investor predicted that Channel Corporation, as Korea’s leading SaaS startup, would grow further. Since its founding as Joy Corporation in 2014, the total accumulated investment is approximately 12 billion won.