Naver readies new social platform ThingsBook for US market
South Korean internet giant Naver is preparing to enter the crowded US social media market with a new platform, marking the company's boldest push yet into the world's most competitive digital market.
The company said Monday it is developing the new user-generated content platform, named ThingsBook, through its US-based subsidiary U.Hub. But the date and the specifics are still under wraps.
'We are developing a platform targeting the US market, but the launch date and the specific details are undecided at this time,' a Naver spokesperson said.
U.Hub is spearheading the development of ThingsBook as part of Naver's efforts to create a service for the global market from the ground up instead of simply adapting popular Korean services for international users. Naver's Webtoon and Band were both launched in the US after achieving success in Korea.
Dubbed a 'personal museum,' the new service will allow users to collect, organize and share content based on personal preferences. Naver has opened a LinkedIn page for ThingsBook, describing it as 'a new kind of social media made just for people who love organizing, collecting and sharing their favorite things, from books and movies to travel spots, fashion, food and more.'
As it gears up for launch, Naver has begun recruiting brand ambassadors to help promote the platform, with content categories ranging from food and travel to books, games, movies and fashion.
Naver's renewed global push follows the return of its founder Lee Hae-jin earlier this year. He was elected chair of the board at Naver in March, reclaiming a leadership role after an eight-year hiatus since stepping down in 2017.
In June, Lee visited Silicon Valley and announced the establishment of Naver Ventures, a US-based investment arm. The new investment company aims to invest in AI startups and future technologies, highlighting Naver's ambitions in the US tech sector.
With ThingsBook, Naver appears to be focusing on securing high-quality, localized data, which is critical in AI development.
During a trip to the US last month, Lee cited user-generated content as a key factor that helped Naver compete against global tech giants like Google in the local search market. He also stressed that securing a wide range of data will be key to gaining an edge in the AI era.
ThingsBook will add to Naver's growing portfolio in the US, which includes the Webtoon platform, operated by US subsidiary Webtoon Entertainment, Naver Band, a social media platform that has gained popularity among after-school activity groups, and Poshmark, a US fashion resale platform that was acquired by Naver in 2023.
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