Channel Breeze(CEO Sung Woo Ahn) revealed the company’s main service ‘Zig Bang’, a rent searching app, raised $18 Million USD as investment. Zig Bang became the second Korean start-up that raises a grand scale investment over $18 Million USD (20 billion won) since Baedal Minjok.
In advance of this multi-million investment, Channel Breeze has recieved investment last year which amounts up to $8.21 million USD from seven venture capitals in and out of Korea.
Channel Breeze received $2.7 million USD last June from Stone Bridge, Company K Partners and others. Just after two months they received additional investments from domestic and foreign VCs, with total of $8.21 million USD.
In the atmosphere of the mobile industry growing fast due to number of smartphone users increasing, Zig Bang has preoccupied 80% of the whole real estate app market, occupying 1st place and still expanding. The third round of investment will accelerate Zig Bang’s marketing activities.
Zig Bang is a mobile real estate information service that provides rental information on studio, apartments, one-room and two-room apartments for single or double occupancies. Just by setting the area and price range, users are given search results of specific information of individual rentals.
Up to now, the number of downloads is more than 5 million, and total users have reached 6 million, web users included. Over half a million offering information on rents have been registered on the platform. Now, Zig Bang is the go-to platform in the real estate market, outgrowing the previously most popular ‘Naver Real Estate’ app by threefold.
Also from last year, Zig Bang has invested heavily in marketing in all sorts of media - TV add, theater, subway and bus. Most of the investment received this year will also be used for marketing.
“We will promote on a large scale in order to maximize profits by attracting customers through our member agencies.” explained CEO Sung-woo Ahn. “Our goal here at Zig Bang is to reach 10 million downloads this year by maintaining reliability. Also, we are going to attract another rounds of investments later this year, strengthening continuous marketing” he added.
Meanwhile, Zig Bang state ‘providing reliable information’ as their core value and is carrying out a management policy for false sales information all-year. These policies include ‘Clean Feedback’, which shares contents of every phone consultation instantly and ‘Fool’s Errand Compensation’, which pays cash to users whenever they make a fruitless trip to an agency because of information listed different from what the apartment actually is.