Zepeto

Based in South Korea, NAVER Z Corporation, through its app ZEPETO, creates immersive virtual experiences, allowing users to build avatars and socialize, while also offering sticker creation through Sticker. ly. NAVER Z Corporation, founded in 2018 and headquartered in Seongnam, South Korea, operates as a digital experience provider through its innovative platforms. The company has completed 5 deals, with its most recent funding round on August 15, 2023, raising USD 13.

00 mn led by Jump Crypto and supported by Collab+Currency Management, Everest Ventures Group, MZ Web3 Fund, and Parataxis Capital. The total amount raised by the company to date is USD 13. 00 mn, leading to a current valuation of USD 1,000. 00 mn.

DaeWook Kim serves as CEO. NAVER Z specializes in innovative digital experiences, primarily through its flagship products, ZEPETO and Sticker. ly. ZEPETO, launched in March 2018, is a social networking app that allows users to create 3D avatars and engage in a virtual world, thereby addressing the needs for social interaction and creative expression in a digital environment.

Sticker. ly, introduced in April 2019, complements this by enabling users to create, share, and utilize personalized stickers across various messaging platforms. Additionally, NAVER Z has developed services like 'build it' and 'ZEPETO Studio,' facilitating user-generated content creation and interactive experiences. The company's offerings are targeted toward a broad audience, including millennials and Gen Z consumers, predominantly in markets such as South Korea, Japan, and the United States, reflecting a global ambition to foster creativity and connection among users.

NAVER Z generates revenue through a combination of direct-to-consumer and B2B transactions, focusing on its key applications, ZEPETO and Sticker. ly. The monetization strategy includes in-app purchases, premium features, and potential partnerships with brands for promotional content within the apps. In the most recent year, NAVER Z reported a revenue of USD 46.

29 mn and an EBITDA of USD -42. 51 mn. In September 2023, Zepeto raised USD 13. 00 mn in venture funding led by Jump Crypto, with participation from Collab+Currency Management, Everest Ventures Group, MZ Web3 Fund, and Parataxis Capital.

The company will utilize this funding to launch its ZepetoX (ZTX) metaverse platform on Arbitrum, further expanding its product suite. NAVER Z aims to enhance its presence in new markets, specifically targeting expansion into Southeast Asia and Europe by 2025, aligning with its overarching goal to broaden its user engagement and market reach.