”I thought it was a cheap reservation, but it exceeded my expectations”... Yanolja's rapid growth - Korea

"It's amazing that the company is valued at 12 trillion won (approximately 1.36 trillion yen)." A reservation service for low-cost accommodations that started in South Korea has become a huge success thanks to the management's skill.
The company, which stands for "Sony/Samsung Electronics," is aiming to list on the Nasdaq stock exchange as early as July this year, with its valuation expected to reach 12 trillion won.
The company was started with capital of 50 million won (approximately 5.7 million yen), and was led by CEO Lee Suzy-in, a former motel employee.
The company is currently attracting a lot of attention in the industry. According to Bloomberg, the company is planning an IPO in the U.S. as early as July, and has received a bid from Goldman Sachs.
The company was founded by founder Lee, who had a difficult life as a "dirty spoon" (poor family) in the spoon class theory.
Using his experience as a motel employee, he started a community on a portal site. The success of providing information related to motels there led to the current company, Yanolja.
What started as a motel reservation service with just 50 million won in capital has now grown into a comprehensive leisure platform company worth 12 trillion won.
The company expanded into Manhattan, New York, and began its challenge in the North American market. In 2019, it opened its first overseas branch in Singapore, marking the 50th time the company has opened an overseas branch.
This remarkable growth is remarkable for an ICT (information and communications technology) company that started as a startup. The company has been described as "recession-proof" and continues to set new records.
The company is also working hard to transform its brand to go beyond its image as just a "motel booking app."
In the fourth quarter of last year (October to December), the company posted consolidated sales of 219.7 billion won (approximately 25 billion yen) and operating profit of 1.2 billion won.
The company recorded a profit of 16.3 billion won (approximately 1.8 billion yen). Sales increased 27% compared to the same period last year, and operating profit reached a new record high. The company expects continued growth in the future, and management is working to increase its operating profits in line with these results.
Last year, Bae Bo-chan was reported to have received 5.852 billion won, Kim Jong-yoon 8.516 billion won, and Lee Suzyn 1.508 billion won.
The company has a three-CEO structure, whose combined compensation amounts to 15.8 billion won, with some executives reportedly receiving compensation of more than 1 billion won.