2 days ago
Silicon Valley's first Korean-founded unicorn Moloco sets sights on web, connected TV ad expansion
Moloco, an AI advertising solution provider, announced its strategic vision to expand beyond mobile app advertising into web and connected TV domains during a press conference in Seoul on Thursday.
Founded by a Korean entrepreneur in Silicon Valley, Moloco is the first unicorn of its kind. The company develops AI-powered advertising technologies that help apps, e-commerce platforms and OTT services boost their ad revenue. Its solutions are designed to improve user engagement with ads, enabling both advertisers and platforms to maximize profits.
'We aim to create a world where a greater variety of platforms and sellers can grow together through our AI engine, fostering broader diversity and sustainable growth,' said Ahn Ikk-jin, CEO and co-founder of Moloco.
According to Ahn, more than 2,000 platforms globally have adopted Moloco's AI engine, which now supports over 180,000 advertisers. Its clients include major global and Korean companies such as LG Electronics, Tving, KT, Coupang Eats and Krafton.
Moloco generates approximately $40 billion in gross merchandise volume annually, comparable to Korea's leading portal and e-commerce giants, Naver and Coupang.
Explaining how the company's machine learning solution rapidly identifies optimal ad placements for advertisers on mobile apps, Moloco CTO Jeon Dong-hwan outlined plans to expand its capabilities into web and CTV channels.
'Our real-time bidding system, powered by machine learning, currently analyzes over 6 million ad opportunities per second. By simultaneously evaluating campaign contribution and expected cost, we've achieved maximum cost-effectiveness,' said Jeon.
'We're increasing our investment in CTV, in partnership with Tving, and aim to build a unified platform that can optimize campaigns across web, app, and CTV channels.'
Moloco, which reached unicorn status with a valuation exceeding 1 trillion won in 2021, is also eyeing an eventual public listing on the Nasdaq.
'Going public, in a sense, means becoming part of society,' said Ahn.
He emphasized that the initial public offering is not being pursued as a fundraising or exit strategy, highlighting that the company has remained profitable for over four years, even with more than half its workforce dedicated to research and development.
'Our vision is to become a scaling engine for the internet economy. If we do pursue an IPO, it will serve as a milestone in positioning Moloco as a true enterprise player in the global commerce media industry.'
