Zigbang, Kurly, Dunamu join Korean unicorn list

2021.07.22 15:01:17

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Home-matching platform Zigbang, grocery delivery app Kurly, and Dunamu, operator of the country’s largest digital coin exchange, are the newest to join the list of Korean unicorns— unlisted ventures valued minimum worth $1 billion, bringing the total number to 15 this year, the Ministry of SMEs and Startups announced on Thursday.

Startups that are merged with other business entities or listed on the stock market are excluded from the list even if they meet the corporate value threshold. As a result, Coupang, Korea’s e-commerce giant, exited from the unicorn list as the company made a debut on New York Stock Exchange in March.

Zigbang is a proptech startup which provides real estate and apartment management services through its mobile app. Dunamu is a blockchain-based fintech company that runs Upbit, a cryptocurrency exchange, while Kurly is an online fresh food delivery company better known as its brand name Market Kurly.

A total of 23 companies surpassed 1 trillion won in corporate value as of July, but eight of them were excluded from the unicorn list due to their IPO or M&A deals, the ministry said.

By Minu Kim

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