‘2024 Startup Platform – WadizProject
Cumulative transaction volume surpassed 1 trillion won last November
A virtuous cycle from public crowdfunding to follow-on investment… Confidence as the premier startup hub
When thinking of domestic startup platforms, e-commerce players like Naver Smart Store, Cafe24, I'mWeb, and 11st come to mind. Now,Wadiz(CEO Shin Hye-seong)' can be added to that list. Since its founding in May 2012, it has mediated over 60,000 projects and grown significantly, with its cumulative transaction volume surpassing 1 trillion won last November.
Wadizhas distinct strengths compared to other startup platforms. It's a platform that appeals to founders. It's a 'crowdfunding' platform. It's ideal for founders who lack funds but are confident in their technology or ideas to gain public support and sponsorship. Key performance indicators back this up, such as the amount of follow-on investment secured by companies that successfully funded exceeding 800 billion won.
Shin Hye-sung, CEO of Wadiz
CEO Shin Hye-sung refers to Wadizas the "startup hub." This expression also conveys his strong confidence that it is a virtuous-cycle platform for the startup ecosystem's inception and expansion, where public support and validation lead to follow-on investments.
Most distribution markets only allow businesses with secured inventory to enter, but crowdfunding enables businesses to gauge market demand without inventory, dramatically reducing initial production costs. It has established itself as the undisputed 'startup hub' optimized for small businesses with ideas but limited funding. Additionally, securing early fans and utilizing them as promotional channels is a key strength Wadiz. By gaining supporters who resonate with the maker's philosophy and the product's story as early fans, makers can obtain feedback, communicate through the platform's news and social features to develop their product, and leverage the successful funding history to create valuable promotional marketing effects by establishing the title of 'verified product'."
Wadizis also a leading D2C platform company in Korea. D2C (Direct to Customer) is a business model where companies sell products by communicating directly with customers, emerging as a core e-commerce trend last year. Wadizwas founded with D2C as its core objective. This is why Wadizis gaining even more attention, aligning with recent e-commerce trends.
The company has built an ecosystem connecting makers and supporters, providing funding and business expansion opportunities through its core 'crowdfunding service' alongsideWadiz Store', 'Pre-order', and 'Space WadizIt already functions as a comprehensive startup platform supporting businesses from inception to growth, including discovering and investing in promising brands through its subsidiaries Wadiz Wadiz
Key achievements Wadiz at the time of announcing cumulative transaction volume exceeding 1 trillion won. It has grown even further since then.
Wadizcore competitive advantage is as follows.
The biggest concern for makers: 'marketing support'
Wadizprovides comprehensive support to help makers overcome challenges and grow into star companies by offering funding, marketing, key customers, and feedback through its core businesses: crowdfunding, Wadiz Store, IP business, Wadiz Space, Startup Discovery, and Wadiz.
Responsible intermediary for refunding funding
Since January 2020, starting with our funding refund policy, we have continued our efforts to protect both businesses and customers in a balanced manner across pre- and post-funding aspects of our funding service. This includes enhancing our review policies, strengthening intellectual property protection measures, introducing a maker trust index, and publishing transparency reports.
Support for developing subsequent sales channels
Wadizis evolving into a platform where early makers who started Wadizcan go beyond funding to gain insights into subsequent sales channels and entrepreneurship. We operate an incubation program encompassing successful launches and follow-up support for small brands, along with Wadiz School—an online and offline entrepreneurship education service. We also publish trend reports containing insights based on supporter data.
(Original: WadizWelcome... Rising as a KRW 1 Trillion Startup Platform)
