Blind secures 40 billion KRW investment, plans Nasdaq listing in the US by 2025

[Asia Economy Reporter Bu Aeri] The anonymous workplace community Blind announced on the 18th that it has secured an investment of $37 million (approximately 41.6 billion KRW).

Team Blind, the operator of Blind, plans to accelerate its Nasdaq listing in the United States by 2025 through this investment.

This investment saw the addition of global investment firms such as Main Street Investment, Cisco Investment from the U.S., and Pavilion Capital from Singapore. Existing investors, Storm Ventures and DCM Ventures from the U.S., also increased their investment amounts.

The investment was driven by predictions that demand for Blind will further increase after COVID-19. Osuke Honda, General Partner at DCM Ventures, stated, "Blind is the only platform worldwide that can meet the communication needs of office workers in the COVID-19 era, where in-person meetings have become difficult."

Seongwook Moon, CEO of Team Blind, said, "From the time of establishment, we set our headquarters in Silicon Valley, USA, aiming for global expansion," adding, "We will not only expand in the U.S. but also grow into a global platform with bases in key countries such as Canada and India, where we have already secured many subscribers."

In just five years since its launch, Blind has become the leading workplace social platform representing the U.S., holding the second-largest number of verified white-collar subscribers after LinkedIn. In the U.S., it is recognized as a barometer of organizational culture to the extent that Michael Bloomberg, founder of Bloomberg News, used employee evaluations from Blind to support his leadership during the Democratic primary for the U.S. presidential election.

Blind has over 5 million subscribers in both the U.S. and South Korea. According to the company, the average daily time spent on the platform is 40 minutes, comparable to YouTube’s 46 minutes, which is the longest globally. In South Korea, more than 85% of employees working at companies with over 300 employees use Blind.

Last year, Team Blind launched the corporate insight platform Blind Hub and the recruitment service Blind Hire, and is currently recruiting talent to develop revenue models and enhance its products. Earlier this month, they hired Young Yuk as Chief Product Officer (CPO), who previously served as product head at Intuit, Glassdoor, and Yelp.

This content was produced with the assistance of AI translation services.