LikeCommerce Platform 'IgeoEottae' Secures Seed Investment

Korea Investment Partners Invests in Daebeomhan Saramdeul: "Providing a Shopping Experience with Positive Cycle of User Recommendations and Purchases"

[Asia Economy Reporter Kim Cheol-hyun] Daebeomhan Saramdeul, a startup operating the like-commerce platform 'Igeo Eottae' (CEO Shim Seong-hwa), announced on the 28th that it has secured seed investment from Korea Investment Partners. Including this seed investment, Daebeomhan Saramdeul's cumulative investment amount has exceeded 2 billion KRW.

Like-commerce refers to a new commerce trend where purchases occur based on recommendations (likes), actual evaluations, and preferences among general consumers. It is an expanded concept from influencer commerce, where products recommended by famous influencers are distributed, to a structure where sales and purchases happen based on products recommended by trusted acquaintances or friends, even if they are not influencers.

Launched in the second half of last year, Igeo Eottae allows general users to more easily share and recommend products with friends or acquaintances through its own app. Unlike existing commerce services, it has received positive responses by expanding the benefit targets, providing incentives to users who recommend products and rewards points to purchasing users simultaneously.

Above all, the product purchase environment based on recommendations from trusted acquaintances leads to a high purchase conversion rate. The purchase conversion rate across all categories is about 12%, which is a high figure compared to other commerce platforms. In particular, agricultural, livestock, and fishery products record a purchase conversion rate close to 25%. Daebeomhan Saramdeul plans to launch the official service and actively build the like-commerce market based on user behavior analysis confirmed through the open beta test operation of Igeo Eottae over the past year, along with this seed investment.

Jung Hwa-mok, director of Korea Investment Partners, who led the investment, explained, "The service is attractive because it is based on acquaintance-based connectivity, allowing consumers to easily function as trusted sellers. Despite being in the early stage, the founders' planning and operational capabilities stood out by creating excellent user loyalty indicators, which led to the investment decision."

CEO Shim Seong-hwa said, "We aim to proactively respond to market changes where general users' SNS-based purchasing experiences are becoming widespread. We will provide a pleasant shopping experience where recommendations and purchases among general users circulate in a virtuous cycle, as well as simplify the existing complex and opaque sales and purchase processes."

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