'Fan Messenger Platform' DearU Passes Preliminary Review for KOSDAQ Listing

[Asia Economy Reporter Hyungsoo Park] Global fan messenger platform company DearU announced on the 15th that it has passed the preliminary review for listing on the KOSDAQ market. Korea Investment & Securities is the lead underwriter for the listing.

Founded in 2017, DearU operates a fandom-based global fan messenger platform business. It runs the global fan messenger platform 'DearU bubble' where artists and fans communicate, as well as the smart karaoke application 'EverySing'.

The core platform, DearU bubble, is a private messenger subscription service for artists and fans. Both artists and fans have high satisfaction with its use, rapidly forming and growing the market. Since its launch last year, DearU bubble has secured over 1.2 million subscribers. Overseas sales account for 70% of total revenue. It has contracts with 21 entertainment companies including SM Entertainment, JYP Entertainment, FNC Entertainment, and Jellyfish Entertainment, providing services with a total of 49 groups and solo artists, and 202 artists. It is continuously setting record-high sales each quarter.

DearU recorded sales of 18.4 billion KRW and operating profit of 6.6 billion KRW in the first half of this year. The half-year sales exceeded last year's total sales of 13 billion KRW. The operating profit margin reached 36%.

DearU plans to expand its scope from the global fan messenger platform to a metaverse platform. In addition to famous singers, it is continuously acquiring new IPs such as sports stars and actors with strong fandoms to promote subscriber growth.

Jong-oh Ahn, CEO of DearU, said, "DearU, a global fan messenger platform company, is creating a new market by presenting an innovative business model that did not exist before," and added, "Based on strong IP, we plan to grow into a global company that creates new value by building a metaverse platform that transcends virtual and reality."