– AI TOEIC learning solution 'Santa' transaction amount increased by 31% year-on-year, contributing to overall sales increase
– Santa Japan Market Transaction Volume Increases by 64% … Impact of Concluding Service Operation Agreements and B2B Contracts with Local Companies
– 'Real Academy' is also a new source of revenue… Officials: "We expect steady revenue improvement as a new growth engine"
Artificial intelligence (AI) edtech startup Luid ( CEO Park Soo-young ) is expected to record sales of KRW 20.1 billion in 2024 , up 161% from KRW 7.7 billion the previous year .
The increase in ' Santa ' transactions was the main factor in the sales growth in 2024. Santa is an AI- based TOEIC learning solution launched by Luid in 2017 , and its 2024 transaction volume increased by 31% year-on-year , contributing to the increase in Luid's overall sales .
The Japanese market transaction volume showed a particularly high growth rate, increasing by 64% year-on-year . In 2023 , Luid signed a service operation contract with the Japanese language education brand ' ALC ', reducing marketing costs in the Japanese market and laying the foundation for securing stable sales . In 2024 , it further expanded its influence in the Japanese market by winning a B2B contract from IT company ' FUJITSU ' . As of February this year, the number of Santa Global cumulative users also recorded 4.87 million .
'Real Academy', launched in August 2024 , also served as a new source of revenue . Real Academy is an AI elementary English learning service that operates a ' 1 Output a Day' learning solution that writes one article a day with AI tutor ' LIA ' . Real Academy recorded a transaction amount of 400 million won in 2024 , and as of March this year, the cumulative transaction amount exceeded 2 billion won, so steady growth is expected .
In particular, Real Academy launched its new elementary English GPT 'Socra AI ' function developed in-house last March . Socra AI applies the Socratic method to ask students questions, expand their thinking , and encourage them to find answers on their own . In addition, it fosters the habit of speaking and writing in English every day through an output-centered learning strategy , and supports learning like a private tutor who answers any question in English with customized conversations tailored to the level of elementary school students . It also provides transparent learning reports based on AI conversation records to ensure learning safety and reliability .
A Luid official said , “Luid’s sales increased significantly as a result of all executives and employees concentrating their capabilities under CEO Park Soo-young throughout 2024. ” He added, “We are also looking forward to steady profit improvement in the future by establishing new growth engines such as Real Academy , and we plan to continue growing by improving services using our unrivaled AI technology . ”
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