Mykoon, the startup behind audio streaming platform Spoon Radio, has scored a 2.5 billion (USD 2.23m) won round of funding from Silicon Valley’s Altos Ventures and 500 Startups.
Unlike other similar Korean sites, Spoon Radio lets you listen to personal audio streams for free and without any extra plugins. The smartphone app, available on both iOS and Android, can be used to stream live or upload a recording. Users can chat with other listeners, and also gift items to their favorite streamers, similar to star balloons on Korea’s well known Afreeca service.
Launched last year, Spoon Radio receives over 80,000 recordings and streams per month. Its quick growthhas allowed the company to share profits with over 300 streamers who earn money through the platform. The company’s development expertise was also recognized by Google earlier this year after it was selected as a Google Play developer.
According to a spokesperson for Altos Ventures, the number of single person households is increasing and many are disconnected from the rest of society. With Spoon Radio’s service, it can connect these people and help solve some of the issues they face. “We’re positive that Spoon Radio will be able to grow from a local platform into a global service,” said the spokesperson.
Mykoon was originally founded in 2013 by CEO Neil Choi, formerly a developer at LG Electronics, and the startup managed to secure two rounds of funding from BonAngels in that same year. The company originally launched a battery sharing service which didn’t work out, and Spoon Radio is the company’s second venture.
Choi says that the investment will be used to upgrade Spoon Radio’s platform, and take on the global market, starting with South East Asia.
