A startup company led by college students has attracted 10 billion won (about US$8.7 million) worth of investment.
The Ulsan Institute of Science and Technology (UNIST) made an announcement on April 11th that student startup company Class 101 (CEO Ko Ji-yeon, 4th grader in Design and Ergonomics) will receive investments worth 12 billion won (about US$10.5 million). Softbank Ventures, Mirae Asset Venture Investment, KT Investment, Spring Camp and Strong Ventures participated in the investment.
“Class 101 is producing great results based on those in their 20s and 30s who want to spend their time meaningfully in the era of small-scale and a 52-hour work week,” said Choi Ji-hyun, who led the investment. “Based on excellent content planning and ability to develop platforms, there is a high potential for future growth.”
Class 101, which began its official service in March 2018, has increased convenience for students with unique services that offer necessary preparations for their hobbies, along with videos of hobby lectures in various fields provided by creators. It operates about 200 classes in various fields such as illustration, home training, and cooking. A cumulative 1.2 million users have visited these classes Â with a satisfaction level of over 95 percent.
Unlike traditional offline hobby courses, class 101 students can enjoy their hobbies anytime, anywhere, with all their preparations being offered in a single purchase. Students can share their work and get direct feedback from creators, which makes it easy and fun to start a hobby.
“This investment will serve as the foundation for creating classes with a wider variety of creators,” said Class 101 CEO Ko Ji-yeon. “We will grow into a national team hobby platform so that anyone can find a class 101 whenever they want to learn something new.”