2015 startup investment trends in korea

May 2016 Issued by Platum Research Team

2015 Startup Investment Trends

in Korea

COPYRIGHT 2016 Platum Inc. ALL RIGHTS RESERVED

Basic Data Used in the 2015 Annual Domestic Startups’ Investment Trends Report

1. Number of Investment Promotion and M&A in 2015 : 273 (233 Promotions and 40 M&As) 2. Number of Startups Promoting Investment(Investee Companies) in 2015 : 210 (177 companies with full disclosure, 26 partial disclosure, and 7 nondisclosure of the amount) 3. Number of Businesses Involved in Investment in 2015 : 160 (with names released)

* For companies promoted investment more than twice a year figures have been calculated based on the accumulative investment amount(including partially disclosed amount). * Investment scale graph is targeting the 184 companies with fully disclosed and/or partially disclosed amount only. * Assessment of business period has been calculated with Dec 2015 as an end date. * Most joint investors do not open their investment amounts, thus, only the numbers of investment participation and scale of investment have been applied.

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The report summarizes the monthly investment trends, investments by scale, investments by business type/period, investor companies, and annual M&A status in 2015 based on publicly released 233 deals of startups’ investments, 40 deals of M&A information. This investment trends report excludes undisclosed investment cases as all data were based on publicly released information over the last year.

COPYRIGHT 2016 Platum Inc. ALL RIGHTS RESERVED

CONTENTS PART 1 2015 Startups Investment - Monthly Trends

PART 2 2015 Startups Investment - Status of Investment Scales

PART 3 2015 Startups Investment - Status of Business Period

PART 4 2015 Startups Investment - Status of Business Type

PART 5 2015 Startups Investment - Status of Investors

PART 6 2015 Startups M&A Status

2015 Startup Investment Trends in Korea

PART 1

2015 Startups Investment - Monthly Trends


2015 Startup Investment Trends in Korea ㅣ PART 1. 2015 Startups Investment - Monthly Trends

• Annual Domestic Startups Investment Total: 233 deals, Total Amount: $695.4M • Highest Investment Promotion: Nov (28 deals) / Lowest Investment Promotion: Feb (11 deals) • Highest Volume of Investment Promotion: Nov ($139.5) • Monthly Highest: Socar ($55.3M) • Monthly Average of 19 Investment

0

30

60

90

120

150

0

6

12

18

24

30

Deals Investments($M)

2015 Monthly Startups Investment Deals 2015 Startups Monthly Investments and Deals

MonthMonthly Investment

Amounts($M)

Deals

Total Total Amount Undisclosed

Jan 48.6 13 12 1

Feb 12.2 11 8 3

Mar 67 17 16 1

Apr 12.7 14 14 0

May 29.2 14 11 3

Jun 48.7 25 24 1

Jul 60.7 20 17 3

Aug 63.5 19 17 2

Sep 34.9 25 21 4

Oct 47 20 15 5

Nov 139.5 28 23 5

Dec 131.4 27 22 5

Total 695.4 233 198 33

Second Half : $477M Disclosed: 115 deals

Investment Amounts

First Half : 94 deals Amount Disclosed : 85 Undisclosed : 9

Second Half : 139 deals Amount Disclosed : 115 Undisclosed : 24

First Half : $218.4M Disclosed: 85 cases Investment Amounts

2015 Startups Investment Deals (comparing the first half and the second half)

Investment Promoted (out of 233 deals)

2015 Startups Investments (comparing the first half and the second half)

Investment Amounts (out of $695.4)

• In the second half of the year, 60% of total number of investments and 69% of total investment amount have been attracted. • 139 (60%) out of total 233 investment have been made in the second half of the year. • $477M (69%) out of total $695.4M has been invested in the second half of the year. • A 39-percent of total investment which accounts for $270.9M has been allocated in November and December. investment promotion cases over $10M were concentrated in Nov and Dec: 8 deals (50%) out of the total of 16 deals in 2015.


$35.7M $35M

• 233 investments have been made in 2015, which was increased by 14% from 109 deals in 2014. • Since there was no investment over $100M in 2015 while three investments over $100M had been made in 2014 (Coupang - $300M, Yello Mobile - $105M, 4:33 Creative Lab - $100M), no significant difference between the total amounts in 2014 and 2015 has been found. • When compared to the investments in 2014 excluding those three cases, investment has hugely increased in both number and amount in 2015.


Jan Company (Investee) Investments ($M) Select Investors

1 Noom 15 TransLink Capital (US), RRE Ventures (US), Interbest

2 Beatpacking Company (Beat) 10.2 Altos Venturs (US), Capstone Partners, Suprema Investment, Bokwang Venture Capital, IMM Investment, LB Investment, Neowiz Investment

3 Jobplanet 7.7 Qualcomm Ventures (US), Altos Ventures (US), BonAngels Venture Partners

4 Fast Track Asia 6.8 Wonderholdings, Insight Venture Partners

5 Mesh Korea (Bootake, Mesh Prime)

3.4 East Gate Partners, Shinhan Capital, Seoul Investment Partners, Solbourn Investment

Feb Company (Investee)Investments

($M) Select Investors

1 Enuma (Todo Math) 4 SoftBank Ventures, TAL Education Group (China), K9 Ventures (US), Kapor Capital (US), D3Jubilee

2 Classting 3 Partners Investment, Individual investors

Mar Company (Investee)Investments


1 MeMeBox 29.5 Formation 8 (US), Goodwater Capital (US)

2 Zigbang 17.9 Bluerun Ventures, Stonebridge Capital, POSCO Venture Capital, Capstone Partners, Company Kpartners, LB Investment, Atinum Investment

3 Pikicast 4.3 DSC Investment, DS Asset Management

4 Flitto 3 DSC Investment, Atinum Investment, Songhyun Investment, Stonebridge Capital

Apr Company (Investee)Investments


1 Noom 16.1LB Investment, Hanmi IT, Qualcomm Ventures (US), RRE Ventures (US) TransLink Capital (US), Interbest *Part of investment money reported in advance since Jan ($15M)

2 Zeroweb 3 POSCO Capital, BK Investment

May Company (Investee) Investments ($M) Select Investors

1 NBT (Cashslide) 11.9 Smilegate Investment, Korea Investment Partners, Bokwang Venture Capital, Albatross Investment, Neoplux, GlobalBrain (Japan)

2 Treasure Hunter 5.7 4:33 Creative Lab, Kolon Investment, Albatross Investment, Jafco Investment (Japan)

Jun Company (Investee) Investments ($M) Select Investors

1 SmartStudy (Pinkfong) 8.5 IBK Capital, KDB Capital

2 Seeon (Siksin Hotplace) 6.8 IBK Capital

3 Innospark 6.1 Company K Partners, SL Investment, Keytone Ventures (China)

4 Mango Plate 6.1 Qualcomm Ventures (US), SoftBank Ventures, YJ Capital (Japan)

5 Buzzni (Home Shopping Moa) 5.1 SoftBank Ventures

6 Fly&Company (Foodfly) 3.7 RGP Korea

Jul Company (Investee) Investments ($M) Select Investors

1 YAP Company (Yap) 35.7 New World Group (China), DS Asset Management, R&D Special District Funds (Daesung Private Equity, Smilegate Investment)

2 Yanolja 8.5 Partners Investment

3 Viva Republica (Toss) 4.3 KTB Network, Altos Ventures (US), Industrial Bank of Korea


Aug Company (Investee) Investments ($M) Select Investors

1 RGP Korea (Yogiyo) 35 Delivery Hero

2 Inno Therapy 6 Songhyun Investment, Smilegate Investment, DS Ventures

3 Treasure Hunter 3.4 DCS Investment

4 Mesh Korea (Bootake, Mesh Prime) 3.4 SBI Investment, KDB Capital

5 Trillionaire (Huiseoul) 3 Altos Ventures (US)

Sep Company (Investee) Investments ($M) Select Investors

1 Gencurix 6.8 Partners Investment, KB Investment, POSCO Capital

2 Drama & Company (Remember) 5.5 Partners Investment, Korea Investment Partners, Aju IB

Investment, Daekyo Investment

3 Homesaeng (Daeri Jubu) 3 Korea Investment Partners, Neoplux

Oct Company (Investee) Investments ($M) Select Investors

1 Engine 10.2 Atinum Investment, LB Investment, 4:33 Creative Lab

2 Daily (Daily Hotel) 8.5 (or more) Sequoia Capital

3 Venticake (Retrica) 6 Bessemer Venture Partners (US), Goodwater Capital (US), Altos Ventures (US)

4 12cm 4.4 Capstone Parteners, KDB Bank, Aju IB Investment, Suprema Investment

Oct Company (Investee) Investments ($M) Select Investors

1 Coinplug 4.3 Atinum Investment, KB Investment, SBI Investment

2 Studymax 3.8 LB Investment, DS Asset Management

Nov Company (Investee) Investments ($M) Select Investors

1 Socar 55.3 SK, Bain Capital (US), etc

2 Energy7 30 Acheron Capital (UK)

3 Makeus 17 DSC Investment, KTB Network, Capstone Partners, Stonebridge Capital

4 Hyperconnect (Azar) 8.5 Soft Bank Ventures, Altos Ventures (US)

5 Treasure Hunter 4.3 SK Telecom

6 Stripes 4.3 Fast Track Asia, Smilegate Investment, Stonebridge Capital, Hyundai Venture Investment, SK Planet

Dec Company (Investee) Investments ($M) Select Investors

1 Yello Mobile 47.2 Formation 8 (US), etc.

2 Zigbang 33 Goldman Sachs Consortium (US)

3 With Innovation (Goodchoice)

11.1 Korea Investment Partners, Mirae Asset Venture Investment, Bokwang Venture Capital, Daekyung Venture Capital, Mirae Investment

4 Buzzvil (Honey Scree, etc.) 11.1 LB Investment, Company K Partners, KTB Network, POSCO Capital, ES Investor

5 Encored Technologies (Enertalk)

10 Quantum Strategic Partners (US), LG U+

6 MAD Square (Snack) 3 Humax, Seoul Investment Partners, Kiwoom Investment, IBK Capital


Number Company (Investee) Investments ($M) Select InvestorsAccumulative

Investments ($M)

1 Zigbang 17.9 in Mar / 33 in Dec Bluerun Ventures, Stonebridge Capital, POSCO Capital, Capstone Partners, Company K Partners, LB Investment, Atinum Investment ($17.9M), Goldman Sachs Consortium ($33M) 50.9

2 Noom 15 in Jan / 1.1 in Mar RRE Ventures (US), TransLink Capital (US), Interbest, LB Investment, Hanmi IT, Qualcomm Venturs (US) 16.1

3 Treasure Hunter 5.7 in May / 3.4 in Aug / 4.3 in Nov 4:33 Creative Lab ($2.3M) / Kolon Investment, Albatross Investment, Jafco Investment (Japan) ($3.4M) / DSC Investment ($3.4M) / SK Telecom ($4.3M) 13.4

4 Mesh Korea (Bootake, Mesh Prime) 3.4 in Jan / 3.4 in Aug East Gate Partners, Shinhan Capital, Seoul Investment Partners, Solborn Investment ($3.4M) / SBI Investment, KDB Capital ($3.4M) 6.8

5 Zeroweb 3 in Apr / 2.6 in Jul BK Investment, POSCO Capital ($3M) / GS Home Shopping ($2.6M) 5.6

6 MAD Square (Snack) 1.7 in May / 3 in Dec L&S Venture Capital, Angel Investors, Capstone Partners ($1.7M) / IBK Capital, Seoul Investment Partners, Kiwoom Investment, Humax ($3M) 4.7

7 Dunamu (Stockplus for Kakao) 1.7 in Feb / 2.6 in Sep Woori Technology Investment, Qualcomm Ventures (US) ($1.7M) / Kakao ($2.6M) 4.3

8 B2Link 0.9 in Jan / 2.6 in Sep / Undisclosed in Nov DSC Investment ($0.9M) / KTB Network ($2.6M) / DT Capital (China) (Undisclosed) 3.5

9 Mr. Pic (Chutcha) 0.6 in Jun / 0.7 in Jul / 1.3 in Nov East Gate Partners ($0.6M) / DXC Investment, Songhyun Investment ($0.7M) / KDB Bank ($1.3M) 2.6

10 Way Wearable (Way) Undisclosed in Oct / 1.7 in Dec Amorepacific (Undisclosed) / Bokwang Venture Capital, Sparklab, Hanwha (Investment, Dreamplue) ($1.7M) 1.7

11 Frientrip 0.4 in Jun / 1.2 in Nov East Gate Partners ($0.4M) / Hana Financial Investment ($1.2M) 1.6

12 Glowdayz (Glowpick) Undisclosed in Feb / 1.3 in Nov The Venturs (Undisclosed) / SL Investment, Jafco Asia (Japan) ($1.3M) 1.3

13 PRND Company (Heydealer) Undisclosed in May / 0.7 in Jun The Ventures (Undisclosed) / GS Home Shopping ($0.7M) 0.7

14 Rock&Roll Business Group (Meesig) Undisclosed in Feb / 0.6 in Dec Sazze Partners (US) (Indisclosed) / Yap Company ($0.6M) 0.6

15 Kozaza 0.3 in Jun / 0.3 in Jul Undisclosed 0.6

16 Tenping Undisclosed in Nov / 0.3 in Dec Capstone Partners (Undisclosed) / East Gate Partners ($0.3M) 0.3

17 Altea 0.2 in Jul / Undisclosed in Aug BonAngels Venture Partners ($0.2M) / 500 Startups (US) (Undisclosed) 0.2

18 ChattingCat 0.1 in Jan / 0.1 in Mar BonAngels Venture Partners ($0.1M) / 500 Startups (US) (Undisclosed) 0.2

19 BratVillage (Doctor House) Undisclosed in Aug and Sep K Cube Ventures (Undisclosed) / East Gate Partners, Strong Ventures (US) (Undisclosed) Undisclosed


Number Company (Investee) Investments (Year/$M) Select InvestorsAccumulative

Investments ($M)

1 Yello Mobile2014 105 Formation 8 (US)

152.22015 47.2 Formation 8 (US), etc.

2 Socar2014 15.3 Bain Capital (US)

70.62015 55.3 Bain Capital (US), SK, etc.

3 Zigbang2014 5.2 Stonebridge, Company K Partners, etc. ($2.6M) / Altos Ventures (US) ($2.6M)

562015 50.9 Bluerun Ventures, Stonebridge Capital, POSCO Capital, Capstone Partners, Company K Partners, LB Investment, Atinum

Investment (21 billion KRW), Goldman Sachs Consortium (38 billion KRW)

4 RGP Korea (Yogiyo)2014 12.3 Insight Venture Partners (US)

47.32015 35 Delivery Hero (Germany)

5 Noom2014 6 RRE Ventures (US), TransLink Capital (US), Recruit Group, Qualcomm Ventures (US), Scrum Ventures (US)

22.12015 16.1 RRE Ventures (US), TransLink Capital (US), Interbest, LB Investment, Hanmi IT, Qualcomm Venturs (US)

6 Beatpacking Company (Beat)2014 2.6 Altos Ventures (US), Capstone Partners, YG Next

12.82015 10.2 Altos Venturs (US), Capstone Partners, Suprema Investment, IMM Investment, LB Investment, Bokwang Venture Capital, Neowiz

Investment

7 Hyperconnect (Azar)2014 1.9 Altos Ventures (US)

10.42015 8.5 Soft Bank Ventures, Altos Ventures (US)

8 Daily (Daily Hotel)2014 0.3 BonAngels Venture Partners, Angel Investor

8.8 (or more)2015 8.5 (or more) Sequoia Capital (US)

9 Drama & Company (Remember)2014 2.1 Taekkyung Lee, CEO of Primer; Janghwan Chung, CEO of Linknow; Capstone Partners($0.4M) / Daekyo Investment, CyberAgent

Ventures (Japan), Capstone Partners ($1.7M) 7.62015 5.5 Partners Investment, Korea Investment Partners, Aju IB Investment, Daekyo Investment

10 Mango Plate2014 Undisclosed SoftBank Ventures

5.52015 6.1 Qualcomm Ventures (US), SoftBank Ventures, YJ Capital (Japan)

11 Stripes2014 0.9 Smilegate Investment

5.22015 4.3 Fast Track Asia, Smilegate Investment, Stonebridge Capital, Hyundai Venture Investment, SK Planet


Number Company (Investee) Investments (Year/$M) Select InvestorsAccumulative

Investments ($M)

12 Hello Nature2014 1.6 Soft Bank Ventures, Mirae Asset Venture Invetment ($1.2M) / Entrepreneur & President Lee Jongsuk ($0.4M)

3.72015 2.1 GS Home Shopping, Fast Track Asia

13 Zai Seoul2014 0.6 K Cube Ventures

3.22015 2.6 NICE Group

14 Ybrain2014 3 Stonebridge Capital, DSC Investment, Company K Partners

32015 Undisclosed Golfzone Yuwon Holdings

15 My Real Trip2014 0.9 Smilegate Investment, Capstone Partners

2.42015 1.5 Altos Ventures (US)

16 Iamcompany (Iamschool)2014 Undisclosed Timothy Draper

2.12015 2.1 LB Investment

17 Stratio2014 0.2 Alchemist Accelerator, Goglobal Consulting, K Cube Ventures, etc.

2.12015 1.9 Undisclosed (Semiconductor/Sensor related Business)

18 Zoyi Corporation (Walkinsight)2014 0.3 Bon Angels Venture Partners

22015 1.7 Korea Investment Partners, Aju IB Investment

19 Diningcode2014 0.1 K Cube Ventures

1.82015 1.7 POSCO Capital, ID Ventures, Seoul Investment Partners, Hanbit Investment, Magellan Technology Investment

20 Krispy2014 0.3 AVA Angel Club

1.32015 1 Henan York (China)

21 Yeastudio (Junimong)2014 Undisclosed Big Basin Capital (US)

0.92015 0.9 Big Basin Capital (US), East Gate Partners

22 OpenTrade2014 Undisclosed Coent Venture Partners (Singapore)

0.92015 0.9 Coolidge Corner Investment, President Lee Dongsuk of DongCoolidge Corner Investment, Magellan Technology Investment

23 Chinada (chinatan)2014 0.9 Nexplat, Lake Investment Advisors, Soft Bank Ventures, Coolidge Corner Investment

0.92015 Undisclosed Mirae Asset Venture Investment, Soft Bank Ventures, Coolidge Corner Investment

24 Orbitz2014 Undisclosed Undisclosed (US Angel Investment)

0.12015 0.1 BonAngels Venture Partners


PART 2

2015 Startups Investment - Status of Investment Scales


2015 Distribution by Investment Scales Number of Investees / Investment Amounts by Investment Scale

2015 Distribution by Investment Scale Detailed Distribution of Investments Less than $10M

• Annual Investment Promotion Startups (Investee Companies) in 2015: 210 (177 companies with full disclosure, 26 partial disclosure, and 7 nondisclosure of the amount) • Ranges with Highest Investment Cases: 0-$0.9M (80), $1M-$9.9M (64) • Ranges with Largest Investment Amounts: $50M-$99.9M ($106.2M) * For companies promoted investment more than twice a year figures have been calculated based on the accumulative investment amount(including partially disclosed amount). * Investment scale graph is targeting the 184 companies with fully disclosed and/or partially disclosed amount only.

2015 Startup Investment Trends in Korea ㅣ PART 2. 2015 Startups Investment - Status of Investment Scales

Number of Investees for Each Investment Scale Number of Investees for Each Investment Scale

Amounts of Investment for Each Investment Scale Investment Amounts (out of $695.4M)

• For investees, number of investments within the range of 0-$9.9M was the highest as 80% (168 cases). • For amounts of investments, amount within the range of $1M-$9.9M was the largest as 38% ($261.3M). • Two investments over $50M were made in 2015. *Socar ($55.3M), Zigbang ($50.9M)


• Total number of Investees for each investment scale has been considerably increased YoY in 2015. With 57 more cases have been made in $1M-$9.9M and 29 more in 0-$0.9M, the investment opportunities below $10M for startups in their initial stages have been expanded. Unlike 2014, no investment over $100M has been made in 2015. • Except the range larger than $100M, investment amounts over the whole ranges have been skyrocketed.

Number of Investees for Each Investment Scale in 2014-2015 Investee Companies

Amounts of Investment for Each Investment Scale in 2014-2015 Investment Amounts


Number Company (Investee) Company/Product IntroductionBusiness

PeriodBusiness Type

Specific Business Sector

Investments($M)

Select Investors

1 Socar Car Sharing Less than 5 Years ICT Service Life Service 55.3 SK, Bain Capital (US), etc.

2 Zigbang Real Estate Information Service Platform

Less than 5 Years ICT Service Real Estate 50.9 Bluerun Ventures, Stonebridge Capital, POSCO Venture Capital, Capstone Partners,

Company Kpartners, LB Investment, Atinum Investment, Goldman Sachs Consortium (US)

3 Yello Mobile Combined Mobile Service Business Less than 4 Years Others 47.2 Formation 8 (US), etc.

4 YAP Company (Yap) O2O Commerce Platform Less than 3 Years ICT Service Life Service 35.7 New World Group (China), DS Asset Management, R&D Special District Funds (Daesung

Private Equity, Smilegate Investment)

5 RGP Korea (Yogiyo) Food Delivery App Less than 5 Years ICT Service Food 35.0 Delivery Hero (Germany)

6 Energy7 B2B O2O Fintech Platform Less than 1 Years ICT Service Finance/Insurance 30.0 Acheron Capital (UK)

7 MeMeBox Beauti E-Commerce Over 5 Years Distribution/Service Commerce 29.5 Formation 8 (US), Goodwater Capital (US)

8 Makeus MCN Less than 2 Years Cultural Contents Video/Broadcasting/MCN 17.0 DSC Investment, KTB Network, Capstone Partners, Stonebridge Capital

9 Noom Mobile Healthcare Over 5 Years Bio/Medical Healthcare 16.1TransLink Capital (US), RRE Ventures (US), Interbest, LB Investment, Hanmi IT, Qualcomm Venturs (US)

10 Treasure Hunter MCN Less than 1 Years Cultural Contents Video/Broadcasting/MCN 13.4 4:33 Creative Lab, Kolon Investment, Albatross Investment, Jafco Investment (Japan), DSC

Investment, SK Telecom

11 NBT (Cashslide) Mobile Advertisemsnt Platform Less than 4 Years ICT Service Advertisement, Sales &

Marketing 11.9 Smilegate Investment, Korea Investment Partners, Bokwang Venture Capital, Albatross Investment, Neoplux, GlobalBrain (Japan)

12 With Innovation (Goodchoice) Accommodation Application Less than 2 Years ICT Service Travel/Accommodation 11.1 Korea Investment Partners, Mirae Asset Venture Investment, Bokwang Venture Capital,

Daekyung Venture Capital, Mirae Investment

13 Buzzvil (Honey Scree, etc.) Mobile Advertisement Platform Less than 4 Years ICT Service Advertisement, Sales &

Marketing 11.1 LB Investment, Company K Partners, KTB Network, POSCO Capital, ES Investor

14 Beatpacking Company (Beat) Mobile Music Less than 3 Years Cultural Contents Music 10.2 Altos Venturs (US), Capstone Partners, Suprema Investment, IMM Investment, LB

Investment, Bokwang Venture Capital, Neowiz Investment


Number Company (Investee) Company/Product IntroductionBusiness

PeriodBusiness Type

Specific Business Sector

Investments($M)

Select Investors

15 Engine Mobile Game Publishing Platform Less than 3 Years Game Publishing 10.2 Atinum Investment, LB Investment, 4:33 Creative Lab

16 Encored Technologies (Enertalk) Energy Big Data Service Less than

3 Years ICT Service Data and Information Management Solution 10.0 Quantum Strategic Partners (US), LG U+

17 Daily (Daily Hotel) Timecommerce Hotel Booking Less than 3 Years Distribution/Service Commerce 8.5(or more) Sequoia Capital

18 Hyperconnect (Azar) Global Online Video Chatting Less than 2 Years ICT Service Community 8.5 Soft Bank Ventures, Altos Ventures (US)

19 SmartStudy (Pinkfong) Mobile Education Over 5 Years ICT Service Education 8.5 IBK Capital, KDB Capital

20 Yanolja Accommodation O2 Over 5 Years ICT Service Travel/Accommodation 8.5 Partners Investment

21 Jobplanet Business Evaluation Platform Less than 3 Years ICT Service Business Solution 7.7 Qualcomm Ventures (US), Altos Ventures (US), BonAngels Venture Partners

22 Fast Track Asia Company Builder, Startup Holdings Less than 4 Years Others - 6.8 Wonderholdings, Insight Venture Partners

23 Gencurix Prognosis and Companion Diagnostics Kits for Breat Cance

Less than 5 Years Bio/Medical Medical 6.8 Partners Investment, KB Investment, POSCO Capital

24 Mesh Korea (Bootake, Mesh Prime) IT Logistics Service Less than

3 Years Distribution/Service Distribution/Logistics 6.8East Gate Partners, Shinhan Capital, Seoul Investment Partners, Solborn Investment, SBI Investment, KDB Capital

25 Seeon (Siksin Hotplace) Restaurant Review Service Less than 5 Years ICT Service Food 6.8 IBK캐피탈

26 Innospark Mobile Game Development Less than 4 Years Game Mobile Game 6.1 IBK Capital

27 Mango Plate Restaurant Recommendation Service

Less than 3 Years ICT Service Food 6.1 Qualcomm Ventures (US), SoftBank Ventures, YJ Capital (Japan)

28 Venticake (Retrica) Camera Application Less than 2 Years ICT Service SW Technology Solution 6.0 Bessemer Venture Partners (US), Goodwater Capital (US), Altos Ventures (US)

29 Inno Therapy Medical Hemostatic Development Over 5 Years Bio/Medical Medical 6.0 Songhyun Investment, Smilegate Investment, DS Ventures


PART 3

2015 Startups Investment - Status by Business Period


0

40

80

120

160

200

0

20

40

60

80

100

~1year ~2years ~3years ~4years ~5years 5years~

Investee(Number) Amount by Business Period($M)

66.2

166.1161.7

140.7

95.6

65.165.1

95.6

140.7

161.7 166.1

66.2

2015 Startups Investment Distribution by Business Period Number of Investees / Investment Amounts by Business Period

Business Period

Investments ($M)

Number of Investees TOP 3 Investments for Startups of Different

Business PeriodsTotal Amount Disclosed

Amount Undisclosed

Partial Disclosure

~1year 65.1 32 24 6 2- Energy7 ($30M)- Treasure Hunter ($13.4M)- MAD Square ($4.7M)

~2years 95.6 63 54 5 4- Makeus ($17M)- With Innovation* ($11.1M)- Hyperconnect ($8.5M)

~3years 140.7 40 33 6 1- YAP Company ($35.7M)- Beatpacking Company ($10.2M)- Encored Technologies ($10M)

~4years 161.7 36 33 3 -- Yello Mobile ($47.2M)- Meme Box ($29.5M)- NBT ($11.9M)

~5years 166.1 18 16 2 -- Socar ($55.3M)- Zigbang ($50.9M)- RGP Korea ($35M)

5years~ 66.2 21 17 4 -- Noom ($16.1M)- Yanolja ($8.5M)- SmartStudy ($8.5M)

Total 695.4 210 177 26 7

• Range of Business Period with the Highest Investments: 1-2 years (63) • Range of Business Period with the Lowest Investments: 4-5 years (17) • Range of Business Period with Largest Investment Amount: 4-5 years ($166.1M) • Range of Business Period with the Smallest Investment Amount: Less than 1 year ($65.1M) • Businesses with 4-5 years of business period have promoted the largest investment amount per number of investees (18 companies, $166.1M, $9.2M on average).

2015 Startups Investment Amounts and Number of Investees by Business Period

2015 Startup Investment Trends in Korea ㅣ PART 3. 2015 Startups Investment - Status by Business Period

10%

9%

17%

19%

30%

15%

~1year~2years~3years~4years~5years5years~

10%

24%

23%

20%

14%

9%

~1year~2years~3years~4years~5years5years~

• Number of startups with 1-2 years in business was 30% (63 companies) of all, although their investment promotion amount was only 14% ($95.6M). • Even though the number of investees with 4-5 years in business was only 9% (18 companies) of all, the portion of its invest promotion amount was the highest as 24% ($166.1M): incl. Socar ($55.3M), Zigbang ($50.9M), RGP Korea ($35M) • It is interpreted that the number of startups of 0-3 years in business was 64% and interests in investing startups are growing. • For startups with 0-5 years in business, the longer the period of business, the larger the average amount of investment promotion per business. For businesses over 5 years, investment promotion in their initial stages has been increased as either their existing services are drawing attentions again or new services are launched.


0

60

120

180

240

300


66.2

166.1161.7140.7

95.6

65.1

129.6

309.3

90.4

124.6

39.8

12.5

2014($M) 2015($M)

0

15

30

45

60

75


2118

3640

63

32

116

1720

33

14

2014 2015

• Total number of Investees for each business period has been considerably increased YoY in 2015. A largest rise in number was observed in investees with 1-2 years of business from 33 to 63 by 30 companies. • For investment promotion amounts for each business period range, overall increases have been observed except for the range 4-5 years: Coupang classified in 4-5 years in business has promoted $300M, leading to raise the amount within the range. • In both 2014 and 2015, the startups within the 1-2 years in business range have attracted the highest number of investments and the startups with 4-5 years in business have promoted the largest amount of investments.

Comparisons of 2014-2015 Investment Number by Business Period Investee Companies

Comparisons of 2014-2015 Investment Amounts by Business Period Investment Amounts


PART 4

2015 Startups Investment - Status by Business Type


0

1,100

2,200

3,300

4,400

5,500

0

30

60

90

120

150

ICT Service

ICT Manufacturing

Game CulturalContents

Bio/ Healthcare

Distribution/ Service

GeneralManufacturing

Others

Investee(Number) Amount by Investment Scale($M)

640

6

731450.5

765347

130.2

5049.95049.9

130.2347

765450.5

731

6

640

Business Type Investments ($M)Number of Investees TOP 2 Investments for

Startups of Different Business TypesTotal

Amount Disclosed

Amount Undisclose

d

Partial Disclosure

ICT Service 431.8 129 109 16 4 - Socar ($55.3M)- Zigbang ($50.9M)

ICT Manufacturing 11.1 6 6 - - - 12cm ($4.4M)

- IPL ($2.1M)

Game 29.7 15 14 - - - Engine ($10.2M)- Innospark ($6.1M)

Cultural Contents 65.4 21 19 2 - - Makeus ($17M)

- Treasure Hunter ($13.4M)

Bio/Healthcare 39.1 15 11 3 1 - Noom ($16.1M)- Gencurix ($6.8M)

Distribution/Service 63.8 21 15 4 2 - Meme Box ($29.5M)

- Daily ($8.5M)

General Manufacturing 0.5 1 1 - - - Ignis ($0.5M)

Others 54 2 2 - - - Yello Mobile ($47.2M)- Fast Track Asia ($6.8M)

Total 695.4 210 177 26 7

• Sectors with Highest Numbers of Investment Promotion: ICT Service (129), Cultural Contents (21), Distribution/Service (21) • Sectors with Lowest Numbers of Investment Promotion: General Manufacturing (1), Others (2), ICT Manufacturing (6) • Sectors with Largest Investment Amounts: ICT Service ($431.8M) • Sectors with Smallest Investment Amounts: General Manufacturing ($0.5M)

2015 Startups Investment Distribution by Business Type Number of Investees / Investment Amounts by Business Period

2015 Startups Investment Amounts and Number of Investees by Business Period

129

6 1521

1521

1 2

2015 Startup Investment Trends in Korea ㅣ PART 4. 2015 Startups Investment - Status by Business Type

1%3%7%

7%

10%

10%61%

ICT ServiceCultural ContentsDistribution/ServiceBio/HealthcareGameICT ManufacturingOthersGeneral Manufacturing

8%2%

4%6%

9%

9%

62%

ICT ServiceCultural ContentsDistribution/ServiceBio/HealthcareGameICT ManufacturingOthersGeneral Manufacturing

Comparisons of Number of Investees by Business Type Investees (out of 210 Companies in Total)

Comparisons of Investment Amounts by Business Type Investment Amounts (out of $695.4M)


91%

1%1%1%1%6%

91%

1%8%

Game $29.7M / 4%

ICT Manufacturing

$11.1M / 2%

General Manufacturing

$0.5M / -Others

$54M / 8%Bio/Medical $39.1M / 6%

38%

1%2%

2%2% 2% 2% 4% 4%

4%

6%

7%

8%

16%

ICT Service $431.8M / 63%

Video/Broadcasting/MCN $38.3M / 6% Music $10.2M / 1% Contents/Media $8.1M / 1% Publication/Cartoon $3.9M KRW / - Performance/Music/Exhibition $3.9M / - Animation/Character $1M / -

Commerce $55M / 8% Distribution/Logistics $8.8M / 1%

Life Service $113.5M / 16% Food $59.1M / 9% Real Estate $50.9M / 7% Finance / Insurance $45.1M / 6% Advertisement, Sales & Marketing $30.8M / 4% Education $27.6M / 4% Travel / Accommodation $26.9M / 4% Business Solution $16.4M / 2% SW Technology Solution $15.8M / 2% Data, Information Management Solution $14.1M / 2% Community $11.7M / 2% Fashion & Beauty $11.4M / 2% Crowd Funding $8.5M / 1% Other Professional Fields Undisclosed

• In 2015, as O2O/Fintech is getting popular, investments toward O2O/Fintech related fields have been largely escalated. 32% of the total investment amount ($223.5M out of $695.4M) was involved in Life Service, Food, and Real Estate sectors which all are closey related to O2O. Finance/Insurance and Crowd Funding attracted $53.6M (7%) worth of investment. • While an increased interest in MCN boosted the investment amount promoted in Cultural Contents sector (Video/Broadcasting/MCN - 6%, $65.4M including $17M from Makeus and $13.4M from Treasure Hunter). • Every year, commerce category in Distribution/Service shows a higher share in terms of whole investment scale and in 2015 it was a 8%, $55M.


0

80

160

240

320

400

ICT Service

CulturalContents


Bio/ Healthcare

Game ICT Manufacturing

Others GeneralManufacturing

0.5

54

11.129.739.1

63.865.4

431.8

113169.4

314.1

8.9

155

2014($M) 2015($M)

0

26

52

78

104

130

ICT Service

CulturalContents


Bio/ Healthcare

Game ICT Manufacturing

Others GeneralManufacturing

1261515

2121

129

113

16

4128

56

2014 2015

• Excluding Game sector, the number of investees by business type in 2015 has shown an overall increase especially in ICT Service, the figure increased by 73 from 56 in 2014 to 129 in 2015. • Looking at the investment amount by business types, that of ICT Service increased by $276.8M (from 155M to 431.8M) and of Cultural Contents by $56.5M (from 10.3M to 76.5M). Above all, Bio/Healthcare sector showed the highest progress ratio with an increase of $29.7M (from 9.4M to 39.1M), on the other hand, that in Distribution/Service drastically decreased by $250.3M (from 314.1M to 63.8M) and Game by $13.7M (from 29.7M to 16M). * In 2014 Coupang and 4:33 Creative Lab included in the Distribution/Service and Game sectors, respectively, promoted investments over $100M and contributed to most of investments of that year.

Comparisons of 2014-2015 Number of Investees by Business Type Investees (out of 210 Companies in Total)

Comparisons of 2014-2015 Investment Amounts by Business Type Investment Amounts (out of $695.4M)


Business TypeSpecific Business Sector Total

Investments ($M)

Total Number of Invests

Specific Business Type Investments ($M)

Number of Investees

Game

Mobile Game 18.1 12

29.7 15Online Game 10.6 1

Publishing 1 2

Cultural Contents

Video/Broadcasting/MCN 38.3 7

65.4 21

Music 10.2 1

Contents/Media 8.1 6

Publication/Cartoon 3.9 3

Performance/Music/Exhibition 3.9 3

Animation/Character 1 1

Bio/Healthcare

Healthcare 20.6 8

39.1 15Medical 16.8 5

Bio-agriculture 1.7 2

Distribution/Service

Commerce 55 1863.8 21

Distribution/Logistics 8.8 3

General Manufacturing General Manufacturing 6 1 0.5 1

Others Others 54 2 54 2

Business TypeSpecific Business Sector Total

Investments ($M)

Total Number of Invests

Specific Business Type Investments ($M)

Number of Investees

ICT Service

Life Service 113.5 23

431.8 129

Food 59.1 13

Real Estate 50.9 2

Finance/Insurance 45.1 8

Advertisement, Sales & Marketing 30.8 6

Education 27.6 14

Travel/Accommodation 26.9 9

Business Solution 16.4 8

SW Technology Solution 15.8 15

Data and Information Management Solution 14.1 7

Community 11.7 4

Fashion&Beauty 11.4 10

Crowd Funding 8.5 8

Other Professional Fields - 2

ICT Manufacturing

CRM related IoT 6.1 2

11.1 6Customer Electronics IoT 2.8 2

Hardware 2.2 2


PART 5

2015 Startups Investment - Status of Investors


Number Investors Investees Investments ($M) Business Period Business Type Specific Business Sector Company/Product Introduction

1 Delivery Hero (Germany) RGP Korea (Yogiyo) 35 Less than 5 Years ICT Service Food Food Delivery App

2 Goldman Sachs Consortium (US) Zigbang 33 Less than 5 Years ICT Service Real Estate Real Estate Information Service Platform

3 Acheron Capital (UK) Energy7 30 Less than 1 Years ICT Service Finance/Insurance B2B O2O Fintech Platform

4 Sequoia Capital (US) Daily (Daily Hotel) 8.5(이상) Less than 3 Years Distribution/Service Commerce Timecommerce Hotel Booking

5 Partners Investment Yanolja 8.5 Over 5 Years ICT Service Travel/Accommodation Provision of Accommodation Information and Travel Contents

6 SoftBank Ventures Buzzni (Home Shopping Moa) 5.1 Over 5 Years ICT Service Life Service Mobile Home Shopping Portal Application

7 SK Telecom Treasure Hunter 4.3 Less than 1 Years Cultural Contents Video/Broadcasting/MCN Company Specialized in MCN

8 RGP Korea Fly&Company (Foodfly) 3.7 Less than 5 Years ICT Service Food Company Specialized in Food Delivery

9 DCS Investment Treasure Hunter 3.4 Less than 1 Years Cultural Contents Video/Broadcasting/MCN Company Specialized in MCN

10 Altos Ventures (US) Trillionaire (Huiseoul) 3 Less than 2 Years Distribution/Service Commerce Beauti-commerce for Reverse Direct-Purchase for China

11 GS Home Shopping Zeroweb 2.6 Less than 3 Years ICT Service Advertisement, Sales & Marketing

Mobile Local Platform for S&M Local Businessman

12 Altos Ventures (US) Vonvon 2.6 Less than 1 Years Cultural Contents Contents/Media Mobile Entertainment Media

13 Value Invest Korea Ylab 2.6 Over 5 Years Cultural Contents Publication/Cartoon Company Specialized in Webtoon Contents Production

14 KTB Network B2Link 2.6 Less than 2 Years Distribution/Service Commerce Global Beauti·Fashion Commerce

15 NICE Group Zai Seoul 2.6 Over 5 Years ICT Service Travel/Accommodation Korean Travel Service Platform for Chinese Tourists

16 Kakao Dunamu (Stockplus for Kakao) 2.6 Less than 4 Years ICT Service Finance/Insurance Startup Specialized in Fintech

2015 Startup Investment Trends in Korea ㅣ PART 5. 2015 Startups Investment - Status of Investors

Number InvestorInvestment Participation

(Deals)Field of Participation Investee

Total Scale Disclosed

Scale Undisclosed

1 K Cube Ventures 18 17 1 ICT Service (7), Game (5), ICT Manufacturing (2), Cultural Contents (3), Bio/Healthcare (1)

Kokomo, Lunit, Kongdoo Company, Paranoid Joy, Bitfinder, Dable, Vitruv, Affinity, Monaissance, Mutzip, Supreme Games, Binary VR, Culturehero, Test Factory, Applepie Studio, Uvify, BratVillage

2 BonAngels Venture Partners 18 17 1 ICT Service (11), Logistics/Service (3), Bio/Healthcare (2), Game (1), Cultural Contents (1)

Jobplanet, Origin Games, I.M.Lab, Streemlyzer, Dabeeo, Storets(재이), Balance Hero, WashApp Korea, Maverik, Vendys, Albam, Skywalk Holdings, Althea, Arcturus, Orbitz, ChattingCat, Candle, Vapshion

3 East Gate Partners 15 11 4 ICT Service (10), Logistics/Service (3), Cultural Contents (2) Mesh Korea, Bapool, Red-Table, Sandbox Network, Yeastudio, Mr. Pic, Kmong, Video Village, Frientrip, Nuvent, 10ping, Rankwave, BratVillage, IntoCNS, Town Company

4 Altos Ventures (US) 13 13 - ICT Service (6), Game (3), Cultural Contents (3), Logistics/Service (1)

Beatpacking Company, Hyperconnect, Jobplanet, Venticake, Viva Republica, Trillionaire, Vonvon, April, Origin Games, My Real Trip, Lendit, Brideasmart, Funizen

5 Capstone Partners 11 10 1 ICT Service (6), Cultural Contents (4), ICT Manufacturing (1) Zigbang, Makeus, Beatpacking Company, 12cm, MAD Square, Gaudi Audio Lab, Evain, Brave Company, WashApp Korea, Video Village, 10ping

6 SoftBank Ventures 11 9 2 ICT Service (10), Bio/Healthcare (1) Hyperconnect, Mango Plate, Buzzni, Enuma, Lunit, Conbus, Scatter Lab, Gaudi Audio Lab, Brave Company, Saguna Networks, Chinada

7 The Ventures 10 6 4 ICT Service (10) IGNet, Umven, 2BCROSS, Cut&Curl, Simfler, Riiid, Glowdayz, Funda, PRND Company, Vovios Korea

8 Coolidge Corner Investment 9 7 2 ICT Service (9) Everspin, Opentrade, Scandi Edu, Travel Note&Tour, QNT, Trusted Insight, Text Factory, Law&Company, Chinada

9 LB Investment 9 9 - ICT Service (4), Game (2), Cultural Contents (1), Bio/Healthcare (1), Logistics/Service (1) Zigbang, Noom, Buzzvil, Beatpacking Company, Studymax, Iamcompany, Kokomo, Open Gallery

10 DCS Investment 9 9 - ICT Service (5), Cultural Contents (3), Logistics/Service (1) Makeus, Pikicast(Yello Mobile), Treasure Hunter, Flitto, Everspin, MUTO Smart, B2Link, Mr.Pic, Brandi

11 KTB Network 8 8 - ICT Service (6), Cultural Contents (1), Logistics/Service (1) Makeus, Buzzvil, Viva Republica, B2Link, April, Wantedlab, Parking Square, Scatter Lab

12 Partners Investment 8 8 - ICT Service (5), Cultural Contents (2), Bio/Healthcare (1) Yanolja, Gencurix, Drama&Company, Classting, Smatoos, JJS Media, Kongdoo Company, Lycle

13 Korea Investment Partners 7 7 - ICT Service (5), Game (1), ICT Manufacturing (1) NBT, With Innovation, Drama&Company, Homesaeng, Smatoos, Eight Panda, Zoyi

14 POSCO Capital 7 7 - ICT Service (6), Bio/Healthcare (1) Zigbang, Buzzvil, Gencuriz, Zeroweb, Dining Code, Cizion, Qsquare

15 Smilegate Investment 6 6 - ICT Service (5), Bio/Healthcare (1) NBT, Inno Therapy, Stripes, Parking Square, Wiredlab, Wishket

16 Stonebridge Capital 5 5 - ICT Service (4), Cultural Contents (1) Zigbang, Makeus, Stripes, Flitto, Wantedlab

17 IBK Capital 6 6 - ICT Service (2), Game (1), Cultural Contents (1), Bio/Healthcare (1) SmartStudy, Seeon, MAD Square, Zikto, Super Awesome

18 Big Basin Capital (US) 5 5 - ICT Service (3), Logistics/Service (2) Verlocal, Limotaxi, Yeastudio, Storets(재이), GreedEat

19 Sazze Partners (US) 5 1 4 ICT Service (2), Logistics/Service (2), Cultural Contents (1) Pison Contents, DearMissJ, Rock&Roll Business Group, 3Claps, Indie CF


K Cube VentureBon Angels

Ventures Partners

Angel Investors The Ventures East Gate Partners

Cooledge Corner Investment

Capstone Partners 500 Startups (US) Mashup Angels DCS Investment Tide Square Big Basin Capital

(US) SV Investment SoftBank Ventures

Songhyun Investment

12 11 7 6 6 5 3 3 2 2 1 1 1 1 1

Lime Asset Management ID Ventures Industrial Bank

of KoreaAltos Ventures

(US)Medici

Investment YAP Company Gobi Partners (China) NCSOFT Company K

Partners Fast Investment Venture Republic (Japan)

Korea Venture Investment Bigbang Angels Go Venture Club Hanwha S&C

Dreamplus

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

AI Angel Club GS Home Shopping Woowa Brothers L&S Venture

CapitalWidus Partners

(US) Mega Investment

1 1 1 1 1 1

100million - 990million KRW ($0.1M - $0.8M)

K Cube VenturesBon Angels

Ventures Partners

East Gate Partners

SoftBank Ventures

Big Basin Capital (US)

Altos Ventures (US) KDB Bank LB Investment KTB Network DCS Investment ID Ventures Smilegate

InvestmentCapstone Partners POSCO Capital Sparklab

5 5 4 4 4 4 3 3 3 3 3 3 3 3 2

Partners Investment

Seoul Business Agency Naver Cooledge Corner

InvestmentMagellan

Technology Investment

SL InvestmentKorea

Investment Partners

IBK CapitalMirae Asset

Venture Investment

Hanwha (Investment, Dreamplus)

M-Venture Investment Primer ISPC (China) Aju IB

Investment NCSOFT

2 2 2 2 2 2 2 2 2 1 1 1 1 1 1

U:US Shopping Mall

Vivid Ace Limited (China) IMM Investment Sparklab Global

VenturesGlobal Brain

(Japan) 4:33 Creative Lab Yozma Group (Israel)

GS Home Shopping Jafco Asia (Japan) Midasdong-a

InvestmentQualcomm

Ventures (US)L&S Venture

Capital Formation 8 (US) Venture Port Bokwang Venture Capital

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

MOUSQ Angel Club

Medici Investment

Hana Financial Investment

Amidzad Partners (US)

Angang Venture Investment Nvestor DCM Ventures

(US)Yello Financial

GroupDS Asset

ManagementWoori


Sazze Partners (US)

Banks Foundation for Young

EntrepreneursSeoul Investment

PartnersCyber Agent

Ventures (Japan)7 Seas Venture Partners (US)

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

1 billion - 2.9 billion KRW ($0.9M - $2.5M) (Investors / Participated Investment)

(Investors / Participated Investment)

* The counting below only concerns the number of participation in each investment scale regardless of investment amount made by each investor. Since most of investments over 1billion KRW (approximately $0.9M) is co-invested, individual investment amount of each investor is not generally notified. Therefore, participation status in each investment scale but not individual investment amount for each investor company has been analyzed and shown here.


Altos Ventures (US)

Partners Investmen

Seoul Investment Partners DCS Investment SBI Investment

Korea Investment

PartnersKTB Network DS Asset

Management LB Investment SoftBank Ventures D3Jubilee RGP Korea

Newschools Venture Fund

(US)K9 Ventures (US) Kapor Capital

(US)

3 3 2 2 2 2 2 1 1 1 1 1 1 1 1

TAL Education Group (China)

Albatross Investment

Jafco Investment (Japan) KDB Capital East Gate

PartnersKolon

Investment Shinha Capital Solborn Investment POSCO Capital Songhyun

InvestmentAtinum

Investment BK Investment Kiwoom Investment

Individual Investors Neoplus

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

Humax IBK Capital Stonebridge Capital

Sejing Venture Partners HB Investment GS Home

ShoppingValue Invest

Korea NICE Group Kakao

1 1 1 1 1 1 1 1 1

3 billion - 5 billion KRW ($2.6M - $4.2M)

Altos Ventures (US)

Partners Investment

Smilegate Investment

SoftBank Ventures KB Investment Qualcomm

Ventures (US)Aju IB

InvestmentStonebridge

CapitalDS Asset

Management POSCO Capital SBI Investment Suprema Investment SK Telecom IBK Capital SK Planet

3 2 2 2 2 2 2 1 1 1 1 1 1 1 1

Hyundai Venture Investment DS Ventures Songhyun

InvestmentAtinum

Investment KDB Bank Capstone Partners KTB Network Industrial Bank

of Korea SL Investment Wonderholdings YJ Capital (Japan) Company K Partners

Goodwater Capital (US)

Keytone Ventures (China)

Daekyo Investments

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

Fast Track Asia Insight Venture Partners (US)

Korea Investment

Partners

Bessemer Venture Partners

(US)DSC Investment

Bon Angels Ventures Partners

1 1 1 1 1 1

5 billion - 10 billion KRW ($4.3M - $8.4M)



Henan York (China)

Sejing Venture Partners

President Hyunsung Shin Settlebank Fast Track Asia HB Investment Stonebridge

CapitalPlatinum


Strong Ventures (US) Mega Investment Hanbit

InvestmentChinese Culture Group (China)

Coolidge Corner Investment

President Dongsuk Lee

Angel Investors

1 1 1 1 1 1 1 1 1 1 1 1 1 1

1 billion - 2.9 billion KRW ($0.9M - $2.5M) (Investors / Participated Investment)


VentureSquare Inmaginator (Malaysia)

Golfzon Yuwon Holding Collz Dynamics Kwon Dogyun

Primer Partners Won & Partners Amorepacific DT Capital (China) K Venture Group Entry Financial Group (China) Yanolja Ridibooks Ntels

SLSquare Investment (Hong Kong)

1 1 1 1 1 1 1 1 1 1 1 1 1 1

LB Investment Bokwang Venture Capital

Korea Investment

Partners

Altos Ventures (US)

Qualcomm Ventures (US) Hanmi IT Interbest TransLink Capital

(US) RRE Ventures (US) Global Brain (Japan)

Albatross Investment

Smilegate Investment Neoplus Company K

Partners KTB Network

4 3 2 2 1 1 1 1 1 1 1 1 1 1 1

ES Investor Daekyeong Venture Capital POSCO Capital

Mirae Asset Venture

Investment

Mirae Investment

PartnersCapstone Partners IMM Investment Neowiz

InvestmentAtinum

Investment 4:33 Creative Lab Suprema Investment

Quantum Strategic

Partners (US)LG U+ IBK Capital KDB Capital

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

Sequoia Capital (US)

SoftBank Ventures

Partners Investment

1 1 1

10 billion - 19.9 billion KRW ($8.5M - $16.9M)

Formation 8 (US) Stonebridge Capital

Capstone Partners Bain Capital (US) Acheron Capital

(UK)Atinum

Investment LB Investment POSCO Capital SK Company K Partners

Goldman Sachs Consortium (US)

Goodwater Capital (US) DCS Investment Bluerun Ventures KTB Network

2 2 2 1 1 1 1 1 1 1 1 1 1 1 1

Delivery Hero (Germany)

New World Group (China)

1 1

20 billion - 100 billion KRW ($17M - )



Undisclosed (Investors / Participated Investment)


PART 6

2015 Startups M&A Status


• 2015 Startups M&A: (40 in Total) • Amount Disclosure: 1 (Kakao took over Locnall (Kimgisa) for 62.6 billion KRW) • Yello Marketing Group, Yello Travel, and Yello Shopping Media, the subsidiaries of Yello Mobile, have taken over 7, 7, and 1 native and foreign startups, respectively, which accounts

for 37.5% of the total M&A cases. • An increase by 31 deals from 9 in 2014 to 40 in 2015.

2015 Monthly Startups M&A Deals

0

2

4

6

8

10

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

1

1

1

1

3

11

444

8

2

5

4

Acquisition Merger

2014-2015 Monthly Startup M&A Deals

0

2

4

6

8

10

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2

3

11

4

5

4

9

2

5

4

1

2222

Acquisition Merger

2015 Startup Investment Trends in Korea ㅣ PART 6. 2015 Startups M&A Status

Jan Acquiring Company

Acquired Company Company/Product Introduction Remarks

1 Kakao Kidsnote Smart School Note for Kindergartens·Day Care Centers

2 Emotion Springworks Contents Management System(CMS) Solution

3 Limotaxi Heavenly Idea Taxi Application for Seoul·Cheongju·Icheon·Gunsan Regios

4 Bluehole Ginno Games (Devilian)

Company Specialized in Online Game Development

Mar Acquiring Company


1 Yello TravelEses Global, Hikary Global, YRM, World

Travel, TNT Tour

Hotel·Accommodation Reservation, Travel·Rental

2Yello Digital

Marketing GroupADplus Digital Media Advertisement (Indonesia)

3 IGAWorks Wizard Works (Somcloud)

Keyboard Themes Services 54% Shares

4 Purple Friends DoDam Communication

Search Advertisement, Viral Marketing Agency

5 Kakao K Cube Ventures Investment Company for Startups

Apr Acquiring Company


1 Treasure Hunter Leferi Startups Specialized in Beauty Contents

2 Bluehole PNIX Games, Squall Game Developing Company

May Acquiring Company


1 Kakao Locnall (Kimgisa) Navigation $53.2M

2 K Venture Group Sell It Company Specialized in Second-Hand Digital Devices Transactions

3Yello Digital

Marketing GroupHandstudio Smart TV/Mobile Application and UI/UX

Development

4Yello Digital

Marketing GroupGushcloud (Singapore)

Digital Influencer and Contents Marketing Group

5 Woowa Brothers Dum&Dummers Regular Delivery Servic

6 AppLift Bidstalk Self-Served Programmatic Advertisement Platform

7 The Ventures Idea Bricks Digital Contents Marketing

8 Kakao Path Social Networking Service (SNS)

Jun Acquiring Company


1 Dum&Dummers HeyBread Bread Delivery from Local Bakeries

2Yello Shopping

MediaWebsosan Vietnamese Price Comparison Website

3 K Venture Group Tangram Design Lab Software and Product Design 51% Shares

4Yello Digital

Marketing GroupAdYim (Thailand) Online Advertisement Service, Integrated

Digital Marketing Solution Company


Oct Acquiring Company


1 K Venture GroupHasys (Hairzzang,

Beautizzang)Customer Management Solution for Beauty Industry 51%

Nov Acquiring Company


1 NICE Group Bird View (Hwahae) Mobile Cosmetics Data Provision Application

2 Baemin Fresh The Food Regular Side Dish Delivery

3 Vanity (Singapore)Gentle Family

(Padang)Domestic Mobile Beauty Service Shop Information Provision Application

Dec Acquiring Company


1 KakaoPodotree

(Kakaopage)Company Specialized in Contents Business

Mer-ger

Acquiring Company New company name Company/Product Introduction Remarks

5월Ydea, Viewreple,

Cosmic ColorYdea (Undecided) Mobile Fashion Commerce

7월 JYC, Amusepark Venditz Lifestyle Service Provision

12월Daum Game,

EngineEngine Company Specialized in Game Publishing


Jul Acquiring Company


1 Yello Travel

Dong-A Rent a Car, Resort for You, Ini

Wedding Networks, H Labs, Tour Seoul Korea, Fridaynoons, Zeokorea

Travel Related Service

2 500V 23 Online·Offline Venture Union Member Companies

3 Woowa Brothers Dubakicall Delivery Company

4Yello Digital

Marketing GroupMediatrack Big Data Analysis Company (Indonesia)

Aug Acquiring Company


1 Yello Travel CardocPrice Estimation Application for Vehicle Exterior Repair

53.7%

2 Yello Travel Computer Lodge Social Media Marketing Solution Company (Thailand)

3 Yello Travel Uhbee Factory Platform Service inluding IoT Products

4 Yello Travel Engine Mobile Game Publishing Platform Company 66%

Sep Acquiring Company


1 Yello TravelStayyoung

(My Candidates)Korean Politics Data Provision Application

We publish research reports analyzing 2015 Annual Domestic Startups’ Investment Trends. The report summarizes the monthly investment trends, investments by scale, investments by business type/period, investor companies, and annual M&A status in 2015 based on publicly released 233 cases of startups’ investments, 40 cases of M&A information.

This report is produced utilizing basic information such as startups(investees), investors, investment scales, and time of investment provided from the data disclosed by investees and investors and Platum analyzes the monthly trends as well as investment distributions and draws conclusion by totaling in a general way and by calculating percentages. Criteria for categorizing business types follow the middle level categorizations adopted by Korea Venture Investment Copr. which KSIC provides.

Types of business are further classified by Platum Research Team in the process of dividing business types of startups so that the subcategorization of business types can reflect the first business type class of each investee. For any external use of this report, it must identify that this report is the product of Platum’s researches.

We hope this report helps readers understand domestic startups’ investment trends. Thank you.

Platum President Sangrae Jo Platum Research Team Manager Seunghee Han Contact [email protected]

Issued by Platum Research Team

Date of Issue ㅣ May 2016 TEL ㅣ 070-4038-4676 WEB ㅣ platum.kr

COPYRIGHT 2016 Platum Inc. Platum ALL RIGHTS RESERVED

mailto:[email protected]

Economy & Finance

2015 startup investment trends in korea