Bucketplace

Executive Summary

Bucketplace runs the South Korean home and lifestyle app Ohouse and uses a business style where people buy things they see in photos and articles. This approach has attracted over 20 million users. The company makes 300 million dollars in yearly revenue mostly by taking a cut of sales made on its site and through selling ads. It still loses money overall with a 40 million dollar net loss. A successful Series D funding round gave the company a 1.6 billion dollar value with support from big names like SoftBank and Temasek. The company protects its business using a huge collection of pictures and posts made by users. This content keeps young people interested more naturally than old-fashioned stores can. Still, the company faces tough competition from existing big players like Coupang and Naver. It also deals with the difficult task of managing many different home repair workers. Going public through an IPO is a major trial to see if a store that focuses on just one category can make consistent profits in the crowded South Korean tech market. Investors have to compare the company's lead in its specific area against the high price of finding new customers and the pressure of being a public company.