South Korean portal operator ZigBang boosted its sales by an impressive 47% YoY worth approximately $93.8M, according to a 2023 audit.
However, operating losses grew to KRW40.8 billion ($29.5M)—driven by the cost of integrating the Samsung Home IoT business, acquired in 2022, into the business.
Jason Ahn, founder and CEO at ZigBang, said:
"Last year, we focused on laying the foundation for business growth with the goal of securing financial soundness.
"This year we plan to further strengthen our affiliate brokerage business and smart home products.
The results of the audit should be favourable for Zigbang, which secured $77M in funding in 2022 ahead of an anticipated IPO. The firm was founded as a rentals app in 2012, and also operates property verticals Realty.Daum.net and Hogangnono.com, as well as other subsidiaries in China and the United States.
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