SEOUL, Korea – November 1, 2012
Zoyi, Inc., a startup located in Gangnam, which is allegedly the Korean version of Silicon Valley and nowadays better known for Psy’s smash hit Gangnam Style, announced its public beta launch of Cooki (http://coo.ki), a virtual currency platform for online activities.
David Lee, an angel investor who has invested in Twitter and Facebook, has shown a keen interest in the service. “Virtual currency is an attractive but challenging area. However, seeing the number of transactions that were made during Cooki’s private beta, I am looking forward to its potential,” says David. During its two-month private beta, 50 chip transactions on average were made per person, which is around $5 USD, the real world currency.
Users expressed their interest or support in videos, images, blogs, and web cartoons on a variety of issues by sending up to 300 chips per post. Perfect Movie Scenes, a collection one user started to share nostalgic scenes from childhood movie classics, became a sensation. Other users joined in to share their own movie scenes and chip the ones they liked, making more than 100 transactions in total.
Cooki’s goal is to enrich meaningful actions in the Internet world by making the experience of online coin giving as simple and social as it is to click the “like” button. “The Freeconomics have nurtured the online ecosystem. However, we believe that it is time to innovate the system from the opposite direction, from people who are willing to pay for the proper value of online activities,” says Josh Jaehong Kim, the CEO of Zoyi.
Parallel to Cooki, the team’s first service, a social advertising platform called AdbyMe, has been a pioneer in the East Asian online social advertising market, running more than a thousand campaigns since its launch in 2011, making more than $1.5 million USD. It was also selected as the Korean representative of “This Week in Startups” and “Launch Conference.”
Zoyi has a vision of empowering people to be more creative online. The company provides AdbyMe, a social advertising platform, and Cooki, a virtual currency service. Located in California, in the U.S. and in Seoul, South Korea, the company offers its services in South Korea, Japan, U.S and Latin America.
Global Business Team