Cases of Promising Startups Moving into Spaces Previously Occupied by Growing Companies Increase
#. Mr. A, who works at a startup growing into a unicorn, recently felt a sense of familiarity with the office layout shown in a broadcast interview about a promising startup. It turned out that the office was the one his company used before moving to its current location. He suddenly thought that it was no coincidence that another startup gaining attention was emerging in the very place where he had worked and where his company’s growth was nurtured.
Offices previously occupied by promising startups are gaining attention as hubs of innovation and growth. Since startups, which are composed mainly of technical talent, tend to prefer similar types of workplaces or office layouts, and due to their rapid workforce expansion, there is a steady demand for office relocations. As a result, cases of one promising startup moving into an office where another successful startup once grew are increasing.
◆ Startups Taking Over Offices = According to the industry on the 6th, Backpacker, which operates the online handmade market ‘Idus,’ recently established its Gangnam Camp on the 19th floor of Platinum Tower in Seocho-dong, Seoul, previously used by Bucketplace, the operator of ‘Today’s House.’ This large office with 180 seats houses Idus’s technology departments. This office was where Bucketplace achieved the high growth of the interior platform Today’s House. Today’s House has surpassed 14 million cumulative app downloads and has a cumulative transaction volume of about 1 trillion KRW. As the workforce grew, Bucketplace moved its office to the nearby Samsung Life Seocho Tower.
Backpacker, founded in 2012 and headquartered in Mapo-gu, explained that due to Idus’s rapid growth, it separated its headquarters and established a second office in Gangnam, a transportation hub. Idus surpassed 410 billion KRW in cumulative transaction volume last November and has been growing more than twice year-over-year. Backpacker plans to expand its technology team to 150 employees and broaden its services based on the establishment of the Gangnam Camp. Information Ram, Backpacker’s Chief Operating Officer (COO), said, "We will not spare investment to accelerate talent acquisition and provide better customer experiences."
In the second half of last year, Croquiscom, which operates the women’s shopping application ‘Zigzag,’ also moved its office to the 27th floor of Parnas Tower near Samsung Station in Gangnam-gu. The office Croquiscom moved into was previously used by Kakao IX. Kakao IX, a Kakao subsidiary specializing in characters, grew so much in this location that its representative character earned the nickname ‘Executive Director Ryan.’ Croquiscom, which launched Zigzag in 2015 by gathering women’s online shopping malls dealing with Dongdaemun clothing, surpassed 2 trillion KRW in cumulative transaction volume in the first half of last year and was selected as a prospective unicorn company in July. As its workforce grew, it newly settled in this location.
The office previously used by Croquiscom was taken over by Brain Commerce, which operates the corporate information platform ‘Job Planet.’ Brain Commerce moved into the space centered on the 3rd floor of the shared office Sparkplus Seolleung branch, where Croquiscom had been. Job Planet has continued its growth, surpassing 2.8 million corporate information entries and 3 million monthly visitors.
◆ Shared Offices Emerging as Startup Growth Hubs = Shared offices that provide the locations and working environments desired by startups are also emerging as cradles for domestic unicorns. Musinsa has moved into Sparkplus Seongsu Branch 2, and MyRealTrip is located at Sparkplus Gangnam Branch. Digital integrated logistics company Mesh Korea is at Sparkplus Seolleung Branch 2.
FastFive, which houses companies like Market Kurly, has also introduced packages offering various benefits for startups. These packages provide not only office space but also support for fundraising, tax and legal consulting, and industry networking opportunities to help early-stage startups grow. An industry insider said, "Since developers are core personnel and fundraising is crucial for startups, preferred offices tend to be similar in terms of transportation and working environment. Cases of promising startups taking over offices from others will continue to emerge."
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