Chat with us, powered by LiveChat
KoreaTech Today - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTech Today - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Hyundai

Startup Korean Business Engagement App Methinks Raises $7 million In Funding

 211 total views,  2 views today

KoreaTechToday Editor by KoreaTechToday Editor
PUBLISHED: July 22, 2019 UPDATED: July 31, 2019
in Hyundai, Investment, Methinks
0
Startup Korean Business Engagement App Methinks Raises $7 million In Funding
Methinks Logo

Methinks logo

Methinks, a qualitative market research application, acquires a $7 million funding from key market players. The company will reportedly use the capital for its expansion into the international market, as well as further development of its services.

Methinks’ investors include high-level investors such as KB Investment and Hyundai Investment. Sema Translink, an “investment company specialized in supporting Korean venture enterprises’ overseas advancement,” led the activity.

Bumsoo Kim, a managing partner of Sema Translink, said in an interview that the group founded their investment on their belief in methinks’ co-founders, Philip Yun and Wilson Li’s, expertise in gathering customer insight.

“The combination of developing a solution to a long-time business problem and finding founders with this kind of credibility is key to building winning solutions now and tomorrow. We believe Methinks can make a big impact on the multi-trillion-dollar R&D industry,” Bumsoo Kim stated.

Philip Yun and Wilson Li, along with their peers around the globe, first introduced the software application in 2016. They described it as a video-based market research platform that allows companies to observe the behavior of willing individuals, called “Thinkers”. It has since become a hit among startups and large companies for providing them an avenue to understand their customers better.

According to Yun, during his interview with VentureBeat, the idea for the application came when they tried to predict the reaction of their users in their previous company.

Before methinks, Yun previously owned the gaming company Xoo. During game development, they relied solely on their intuition to predict the behavior of their customers. However, this method proved unreliable hence forcing them to develop a program that will help them connect with their market.

“We found out that we had a lot of assumptions that consumers would like our games, and it turns out they didn’t really like them. By the third game, we said we had to verify our concept and ideas before going out and putting a lot of engineering resources on it. We looked for solutions and made our own platform,” Yun said.

“You could have coffee with a user, but the logistics take so much time it doesn’t make sense for a startup. And other research platforms are very expensive. So we had the idea of coming up with people [to interview] based on what kind of apps or games they are using on their phones every day. We identify them, connect to them, and, with their permission, do a video chat with them. We show them our prototypes and watch how they use them,” he continued.

The SaaS-based platform provides subscribers with a platform to conduct live interviews, qualitative surveys, and longitudinal studies. It can provide insights, such as basic product usability, and personal product usage, which were once achievable only through long-term researches. Methinks is used by internationally-recognized companies such as LG, Samsung, Machine Zone, Verizon, Hyundai, and more.

Featured image grabbed from Methinks website.

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: Hyundai InvestmentKB InvestmentmethinksSamsungSema Translink

Related Posts

Hyundai Motor formed a strategic partnership with ride-hailing company Uber to accelerate the electric vehicle adoption across major European cities.
Methinks Logo
Automobile

Hyundai to Accelerate Europe’s EV Adoption with Uber

April 14, 2021
Hyundai and Woowa Brothers join hands to develop automated, contact-free delivery robots, heightening mobility solution safety and efficiency for customers. photo shows Woowa Brothers' new Dilly Drive
Methinks Logo
Hyundai

Hyundai, Woowa Expand Automated Vehicle With New Contact-Free Delivery Robots

March 24, 2021
With an investment worth $200 million, Carlyle Group collaborates with Kakao Mobility for further development of smart mobility platform technologies.
Methinks Logo
Automobile

Carlyle Group Buys $200 Million Worth Shares of Kakao Mobility

February 20, 2021
Hyundai's IONIQ 5 interior image released ahead of virtual world premiere event. / Photo courtesy of Hyundai Motor
Methinks Logo
Automobile

Hyundai Presents Modular Interior of IONIQ 5, its First E-GMP BEV Model

February 17, 2021
Hyundai Motor Group introduces the TIGER X-1, an intelligent uncrewed ultimate mobility concept vehicle for scientific exploration and terrain navigation. / photo vourtesy of Hyundai Motor
Methinks Logo
Automobile

Hyundai Introduces TIGER, an Intelligent Ultimate Mobility Vehicle

February 11, 2021
Hyundai Motor Group announces they would participate in the construction of Air-One, the world’s first electric Urban Air Mobility hub for eVTOL aircrafts. / photo courtesy of Hyundai Motor Group
Methinks Logo
Hyundai

Hyundai, Urban Air Port Establish First Electric UAM eVTOL Hub in UK

February 1, 2021

FREE NEWSLETTER

  • NAVER

  • Kakao

  • Nexon

  • Netmarble

  • Ncsoft

  • Samsung

  • Hyundai

  • SK

  • LG

  • KT

Trending posts

  • Carlyle Group Buys $200 Million Worth Shares of Kakao Mobility

     160 total views,  1 views today

  • South Korea Partners with Hyundai, LG, KST for EV Battery Reuse

     192 total views,  3 views today

  • South Korea to Unveil Prototype of First Developed Fighter Jet KF-X

     131 total views,  2 views today

  • LG, Luxoft Join Hands to Officially Launch Automotive Solution Alluto

     141 total views,  1 views today

  • Hanwha to Strengthen Future Space Industry Growth With ‘Space Hub’

     126 total views,  1 views today

  • Naver Affiliate LINE Games Secures 100 Bln Won from China Firm Tencent

     346 total views,  12 views today

  • Samsung Shuts Down Texas Semiconductor Plant Due to Winter Storms

     154 total views,  2 views today

  • Spotify Pulls Out K-Pop Music Provided by Kakao M

     117 total views,  1 views today

  • SK hynix Begins Mass-Producing Premium 18GB LPDDR5 mobile DRAM

     107 total views,  4 views today

  • Korean Startup Real Water’s Unique Solution to Keep Microplastics at Bay

     109 total views,  1 views today

  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2020 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2020 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |

Get the latest from the biggest tech companies in Korea straight to your email. Subscribe now!