500V has announced the launch of its second venture alliance, almost two years after the first group was formed in 2015.
500V, which calls itself a fast IPO platform, gives small to medium sized ventures a faster route towards being listed on the financial markets by combing multiple businesses. The first round saw 500v, a group made up of O2O companies listed on KONEX – Korea’s securities market for mid-sized companies – in December last year. 500V2 is the second rocket to take off on its way to a potential IPO.
500V2 is a media themed alliance and aims to create an environment that fosters fair media coverage and quality content. As one entity, it hopes to boost the competitiveness of smaller sized media companies, raising the potential of entering the financial market.
“The main goal of surviving as a company is actually what gets in the way of surviving,” said 500V2 CEO Seungeun Myung. “We decided that we needed an environment where we could take away the negative elements impeding growth for platforms and curators.”
The newest alliance is made up of 13 media and marketing companies including seven which are part of The Purple Friends Group (TPFG). The group was formed recently by Purple Friends after it acquired six other marketing ventures. Purple Friends, which was founded in 2007, has been recognized for its expertise in the marketing industry and is the host to mobile marketing conferences.
According to 500V2, it had sensed a need for a more organic relationship between companies last year, and by bringing together small to medium businesses in the industry, 500V2 intends to take on various major projects that wouldn’t have been possible alone.
“Our competitive edge in the rapidly changing marketing industry is developing a business platform that can offer targeting solutions, data analysis, and a proactive consortium that can respond well to various requests from customers,” said The Purple Friends Group CEO Soo-hyung Lee. “The 500V2 merger will allow existing resources to generate greater synergies, while allowing companies to focus more steadily on new business development. ”
Co-CEO Minwoo Park added that 500V2 is meeting with a large number of media and content companies, and that many have expressed their interest in working together for innovation of the industry’s ecosystem and to strengthen competition.
500V2 Members:
AT Square – Startup media platform
Media Woom – Online/offline advertising consulting
Eppad – Subway video advertising
EPP Interactive – Digital content production and exhibition planning
B.Creative – UI/UX consulting and content creation
Gyeonggi Education Newspaper – Education newspaper outlet, English education consulting
TPFG
Purple Friends – Online/offline IMC campaigns and mobile marketing
Clex – Search, viral, social media content marketing
MPRD – Website/application planning and development
Cremore – Mobile/web game marketing
GEO Korea – Medio promotion and global marketing
Design Gamza – Design agency, print publishing and exhibition design
Kakao Busan-Gyeongnam Center – Agency based in Busan, Gyeongnam and Ulsan)
