K Cube Ventures announced an investment of 200 million won in Dunamu Inc. on February 27. It is the second investment for K Cube Ventures in 2013 following an earlier investment in game company Dryad.
Dunamu was founded in April last year by co-CEOs Haeil Yi and Chi-hyeong Song, who both have extensive experience development. The company currently operates ‘News Mate’ which provides users with the most popular current articles on news websites. It also has a feature to analyze “link-bait” headlines, a popular tactic in Korea.
Jimmy Rim commented on the deal, saying, “The top-class developing skills and team work seen between CEOs Yi and Song is rare. It is a great example which will communicate K Cube Ventures’ philosophy to teams with good potential.”
CEO Yi commented on the investment, saying, “It’s a great honor just to become part of the K Cube Ventures family, which are showing good results in different areas. We plan to be a service that serves as an effective substitute for existing mobile services with problems.”
K Cube Startups, an early stage VC firm, has already been active since the beginning of the new year with its “Friends Program” incubating system and recent conference featuring the firm’s founder Brian Kim and the CEOs of portfolio startups.