On Dec. 18, Woowa Brothers Corp., the company operating “Baedal Minjok,” announced that total visitors to Baedal Minjok’s PC and mobile services increased by 80% since January 2014, a feat that demonstrates the company’s remarkable growth over the past year.
Baedal Minjok is a food delivery app that provides information about the menu, prices, and ratings of restaurants based on user location, like Seamless in the U.S. Currently, the app’s cumulative download in Google Play exceeds 15 million, and its October food delivery order number over 4 million. The company’s app is installed approximately 10 million devices, representing roughly 20 percent of the South Korean population. The service has signed on more than 140,000 food establishments as members across the country. It is currently Korea’s most popular mobile food delivery app.
According to market research firm Nielson, Baedal Minjok’s estimated unique visitors (UV) in November reached approximately 2.7 million, compared to just 1.5 million in January of this year. With this, Baedal Minjok maintains its status as the number one food delivery app in Korea.
Baedal Minjok has substantially changed the landscape of the Korean delivery app market by leading its growth and innovation this year. Baedal Minjok has made its mobile service more convenient and more accessible by introducing Points Accumulation System and Kakao Pay, Daum Kakao’s leading mobile payment app into its platform.
Unlike Seamless, whose revenue consists of commission fees from the orders, Baedal Minjok depends heavily on advertising. Baedal Minjok has also launched various discount deals, including its “Black Friday” event, and hired popular screen actor Ryu Seung-ryong as the mobile app’s spokesperson to attract more popular attention.
Despite Baedal Minjok’s remarkable success story, the company was not without problem. Baedal Minjok has faced increasing criticism from local store owners claiming that the app burdens restaurant owners with high service commission and advertisement fees. In an effort to counter such criticism, Baedal Minjok launched a business consulting service called “Revenues over Flowers” to help self-employed restaurants’ revenue growths The company also introduced a number of tools and analytics aimed at assisting small restaurant owners measure the performance of their online and offline advertising and marketing initiatives. In addition, Baedal Minjok has also strove to lessen its affiliated restaurants’ financial burdens by reducing commission fees and providing mobile equipment for free.
“We will be able to cement our position as the No.1 operator in the business and accelerate our effort toward global reach,” said Kim Bong-jin, president of Woowa Brothers.
“Based on our experience in the O2O [online-to-offline] service business, we will try to change the way people in the whole Asian region place food delivery orders.”
– Inspired by Platum