Beauty SNS ‘Unnie’s Pouch’ Lands 1.4B KRW Investment from Partners Investment

언니의 파우치

LYCL (CEO Ji-Hoon Chun), the parent company of Korea’s largest Beauty SNS Unnie’s Pouch (Unpa hereafter), announced that it has successfully landed 1.4B KRW (1.23M USD) investment from Partners Investment Fund. LYCL has been recognized for its technological prowess, consistently selected as part of R&D businesses by Small and Medium Business Administration (SMBA) and by Ministry of Science, ICT, and Future Planning. Through this investment, LYCL secured more than 2B KRW (1.76M USD) of capital – setting a solid base for operations and service enhancement both in domestic and foreign markets.

Through honest reviews and beauty tips from everyday users, Unpa is rapidly replacing the existing power blogger-centered cosmetic product reviews. Unpa was the only beauty mobile app among Google’s Best 30 Mobile Apps in 2014; in 2015, the app broke 1M downloads (based on Google Play) and 50M page views.

“We will maximize our investment and do our best in providing more trustworthy beauty information through search algorithm enhancement, personalized recommendation system, and service expansion in Mainland China and Taiwan to become Asia’s largest K-Beauty platform,” said Ji-Hoon Chun, CEO of LYCL.

Beom-Seok Lee, Director of Partners Investment, said “Unpa is offering technical solutions to blog-based makeup products search paradigm that has been stationary for 10 years. Natural formation of User-Generated Content (UCC) beauty contents ecosystem, facilitation of communications between app users and top brands such as AMORE PACIFIC, LG Household & Health Care, Estée Lauder have led to our decision to invest in the app for its vertical platform.”

Unpa is currently hiring service expansion producer and web developer. More information is available on referral recruitment service, Wanted.

– Inspired by Platum

Michelle is a tech writer and a tea aficionado. You can reach her at eunjeonghur@techforkorea.com.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *