AI Edutech 'Riiid' Posts 10.9 Billion KRW in H1 Sales... "Acquisition of Qualson and Success in Japanese Market"
184% Increase in Sales Compared to Last Year
Targeting the Japanese Market and Improving Marketing Efficiency
AI Edutech startup 'Riiid' achieved consolidated sales of 10.9 billion KRW in the first half of this year. This represents a 184% increase compared to the same period last year, more than doubling its revenue. Operating profit also improved by 4 billion KRW during the same period, growing by 33%.
The expansion through the acquisition of the English content company 'Qualson' last December played a key role in this strong performance. Starting in the second half of this year, the synergy effect from combining Riiid's AI education technology with Qualson's content IP is expected to drive clear growth momentum.
Global business expansion centered on Japan was also effective. Riiid's sales in the Japanese market grew by 40% compared to the same period last year, maintaining a steady upward trend. In particular, the partnership with the Japanese language education brand 'Aruku (ALC)' significantly improved profit margins and marketing efficiency. This year, Riiid is accelerating its local market penetration by securing a B2B contract with the Japanese IT company Fujitsu.
Improved marketing efficiency through segmented targeting and media strategy adoption is another factor contributing to Riiid's growth. The expansion of targeted campaigns and various new marketing initiatives have more than doubled the return on advertising spend (ROAS) compared to the previous year. Additionally, Riiid continues to improve profitability by simultaneously optimizing costs and enhancing organizational structure, effectively reducing the deficit.
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A Riiid representative stated, "As a result of focusing on corporate restructuring and strengthening fundamental competitiveness, clear improvements in performance have begun to appear. To maintain steady growth in the second half, we will continue investing to secure mid- to long-term growth drivers and enhance corporate value."
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