Class101, the Korean Online Class Platform, Expects Q4 Profit with Strong Growth
South Korean online class subscription platform Class101 announced on October 18 that it achieved its monthly break-even point (BEP) in September and anticipates turning a profit in the fourth quarter.
The company has made significant progress since securing $24 million in Series B funding in 2021, gaining recognition as a unicorn contender. However, it faced severe financial difficulties due to a lack of subsequent investments during an investment freeze period. Achieving the BEP provides hope for the company’s long-term sustainability.
After integrating services in South Korea, the United States, and Japan in December 2022, Class 101 reached 150,000 paying subscribers in just six months. In September, it celebrated its first-year anniversary since transitioning to a subscription-based model by achieving the BEP, demonstrating the growth potential of its subscription model.
Class 101 attributed its high subscription renewal rates and continued interest in self-development and growth in both B2C and B2B sectors as the key factors for reaching profitability. The company has reorganized its structure to prioritize enhancing the experiences of creators and class participants. It has also strengthened its subscription service growth by establishing efficient systems and upgrading services.
To accelerate its growth, Class101 plans to expand its content spectrum, offering more than 5,300 diverse classes and high-quality killer content. Additionally, it will develop new features like playlists and challenges to enhance the overall experience and engagement among subscribers and creators.
Class101’s CEO, Kung Dae-seon, stated that they would strive to achieve more remarkable results to become a leading global platform for innovation. He emphasized that Class101 aims to foster stronger communication and interaction between creators and participants, further enhancing activities within the subscription service.
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