• Danggeun Market

  Participated · Series D · Aug 2021

  Danggeun Market operates Karrot, a hyperlocal community app and secondhand marketplace that shows listings within tight distance limits (6 km in Korea and about 15 km in the U.K.). The platform enables roughly 300,000 local SMB partners to digitalize via offline-to-online (O2O) services and offers local commerce from fresh produce delivery to cleaning, education, real estate brokerage and used cars. Danggeun plans to launch Karrot Pay (Danggeun Pay) this year pending regulatory approval and to expand its O2O services for SMEs. The company intends to use new funding for global expansion, business diversification, R&D, investment in advanced AI/ML for personalized feeds, and recruiting talent. Financially, Danggeun raised $162M in a Series D at a $2.7B valuation, bringing total capital raised to $205M. The company reports over 21 million registered users, MAUs rising from 1.8M in 2019 to 14.2M in 2021, over 300% year-on-year growth since 2018, and an average user time of two hours and two minutes per month, per App Annie. Danggeun Market operates Karrot, a smartphone-first peer-to-peer neighborhood marketplace that shows listings from sellers within a roughly six-kilometer radius and verifies users by mobile number and location. The app is free to use and monetizes through hyperlocalized advertising and neighborhood networking features. Karrot has grown rapidly: monthly active users reached seven million in April (130% year-over-year growth), average session length is about 20 minutes, gross merchandise value increased 250% year-over-year, and listings rose from 4.4 million in January to 8.4 million in April. The company has added community features such as Karrot Help and tools to manage mask listings during the COVID-19 pandemic. It launched in the United Kingdom last November and plans to expand into additional international markets. Near-term priorities are enhancing community features in South Korea and resuming international expansion when appropriate.

No current team members are available.