Korean start-up tries to spearhead ‘subscription economy’
MakeIt, which runs the ETF Trend brand in Korea, announced on Dec. 24 that the company had launched a rental service of its new investment platform, dubbed ALAP.
Brief for All Life Asset Platform, ALAP enables people to trade shares on the back of recommended investment strategies and receive financial education simultaneously.
ALAP, which comes through Samsung Electronics’ latest tablet PC of the Galaxy S7, is powered by artificial intelligence algorithm, according to the Seoul-based company.
“Since its launch this October, ALAP has recommended more than 4,000 companies to investors. A vast majority of the companies saw their share price go up. The proportion is more than 97 percent,” a MakeIt official said.
“Through the rental service, we will strive to make ALAP available to more investors. We hope to spearhead the so-called subscription.”
The subscription economy refers to the recent trend of global corporations shifting to a subscription business model, which involves selling recurring subscriptions to consumers in exchange for access to a product or service.
“In addition, we will increase ALAP’s ceiling of invested funds by five times to 1 billion won,” the official said. The maximum amount of 1 billion won is around $910,000.
MakeIt, which is headed by founding CEO Park Soo-in, also operates a YouTube channel dubbed ETF Trend that has chalked up super-fast growth.
Ever since it received the Silver Play Button from YouTube for surpassing the 100,000 subscribers mark as of this mark, the user base almost tripled in a few months.
MakeIt expected the figure would top 300,000 later this year _ it is 292,000 as of Dec. 26.