Wadiz2024 Startup Platform – WadizFeature
Cumulative transaction volume exceeded 1 trillion won last November
A virtuous cycle from public crowdfunding to follow-on investment… Confidence as the No. 1 startup hub
When thinking of domestic startup platforms, e-commerce platforms such as Naver Smart Store, Cafe24, I’mWeb, and 11st come to mind. Now, we can addWadiz(CEO Shin Hye-seong) to that list. Since its founding in May 2012, the company has facilitated over 60,000 projects and has grown to the point where its cumulative transaction volume exceeded 1 trillion won last November.
Wadizhas a unique advantage that sets it apart from other startup platforms—a feature that is particularly appealing to founders. It is a crowdfunding platform. It is ideal for founders who lack funding but are confident in their technology or ideas, as it allows them to secure public support and backing. Key performance indicators, such as the fact that the total amount of follow-on investment secured by companies that successfully raised funds on the platform has exceeded 800 billion won, underscore this strength.
Shin Hye-sung, CEO of Wadiz
CEO Shin Hye-sung refers to Wadizas the “number one startup hub.” This expression reflects his strong confidence in the platform’s role as a virtuous cycle that fosters the growth and expansion of the startup ecosystem, where public support and validation lead to follow-on investment.
“While most retail markets are open only to businesses with existing inventory, crowdfunding allows you to gauge market demand in advance without holding inventory, thereby drastically reducing initial production costs. It has established itself as the undisputed ‘go-to platform for startups,’ offering an ideal solution for small businesses with ideas but limited funds. Another strength Wadizis its ability to help secure early supporters and utilize them as a promotional channel. By securing supporters who resonate with and cheer on the makers’ philosophy and product stories as early fans, companies can gather feedback, communicate through the platform’s news feed and social features to refine their products, and leverage the title of a ‘verified product’—earned through a successful funding history—to generate valuable promotional and marketing benefits.”
Wadizis also one of Korea’s leading D2C platform companies. D2C (Direct to Customer), a model in which companies communicate directly with customers to sell products, emerged as a key e-commerce trend last year. Wadizwas founded with the specific goal of embracing the D2C model. This is why Wadizis garnering even more attention in light of recent e-commerce trends.
The company has built an ecosystem that connects makers and supporters and provides opportunities for fundraising and business expansion, encompassing its core business, “Crowdfunding Services,” as well asWadiz,” “Pre-order, Wadizand “Space Wadiz WadizThrough its subsidiaries, Wadiz Wadiz, it identifies and invests in promising brands, functioning as a comprehensive startup platform that supports companies from inception through growth.
Key achievements Wadiz at the time of the announcement that its cumulative transaction volume had surpassed 1 trillion won. The company has grown even further since then.
Wadizkey competitive advantage is as follows.
Makers’ Biggest Concern: ‘Marketing Support’
Through Wadizcore businesses—including crowdfunding, the Wadiz Store, IP services, Wadiz Spaces, Startup Discovery, and Wadiz—Wadizprovides comprehensive support to help makers overcome challenges by offering funding, marketing, access to key customers, and valuable feedback, enabling them to grow into leading companies.
Brokerage Firm Responsible for Refunds of Funding
Starting with the introduction of our funding refund policy in January 2020, we have continued our efforts to protect both companies and customers in a balanced manner throughout the entire funding process—from pre-funding to post-funding—through measures such as refining our review policies, strengthening intellectual property protection, introducing a Maker Trust Index, and publishing transparency reports.
Support for developing new sales channels
Wadizis evolving into a platform where early-stage makers who started Wadizcan go beyond crowdfunding to explore new sales channels and gain insights into entrepreneurship. We operate an incubation program that supports the successful launch and ongoing growth of small brands, as well as Wadiz School, an online and offline entrepreneurship education service. We also publish trend reports featuring insights derived from supporter data.
(Original text: Welcome toWadiz… A Startup Platform Valued at Over 1 Trillion Won)
