Last month, Demoday, Inc. launched its market cultivation service ‘Demoday Market’. Demoday is a web-based portal for startups to exchange information and refer to for various resources. With the launch of its Market, Demoday now also offers opportunities for startups to access more channels for sales and distribution of their products and services. Now three weeks in operation, the company has reached over $50,000 in daily sales transactions.
A number of popular Small and Medium Enterprises (SMEs) that offer delivery services, online shopping malls, and various types of social commerce have partnered with Demoday Market. These include ‘The Race of Delivery,’ ‘Reebonz Korea,’ ‘Sneakers New York,’ ‘SOCAR,’ ‘Noom Korea,’ ‘Toy’s Myth,’ and others that are mostly well recognized in Korea.
Typically in South Korea, online SMEs rise in popularity through word-of-mouth. Through Demoday’s consolidated sales channel, resource-constrained small and medium-sized sellers may hope to expand their customer base more swiftly.
In the wake of early success, Demoday Market believes that it has even greater potential to succeed in larger markets. It is now said to be negotiating with a large publishing company to expand their presence in brick and mortar companies. The company also promotes an affiliation with credit card company BC Card, to enable over $2 billion worth of credit card points for Demoday Market purchases.
Demoday also announced that they are expecting positive results from its negotiation with the Chinese government and Chinese conglomerates to develop opportunities abroad.
“We cannot sell products simply by consolidating small/medium companies in one place. Demoday works together with Startups to help solve their problems. We have urgent needs to help startups grow, because our success highly depends on each of their successes that startups bring using our platform. We look forward to partnering with other startups to expand our platform of coexistence,” says Seung Kook Na, the CEO of Demoday, Inc.