Adoba Series A Investment – A Platform for Creators Enabling China Expansion
Adoba Attracts 4 Billion Won Series A Investment...Enabling Creators to Expand to China Article (Korean)
Creator Platform for China Market "Adoba," Attracts 4 Billion Won Investment Article (Korean)
Ascendo Ventures participated along with Union Investment Partners, We Ventures, and Laguna Investment in the Series A round of Adoba, a platform enabling multi-channel content management, distribution, and monetization for creators in the China market. This investment is a very meaningful investment for Ascendo Ventures in the following ways:
This marks a reunion of investor and startup founder as Adoba was founded by CEO Joon Han Ahn, who was formerly the CSO at a successful portfolio company of a fund that I previously was an investor for.
This is an investment in a startup whose main strategy is China market entry, a difficult space in which countless content-related companies and startups have had bitter experiences.
This is an investment in the field of multi-channel networks which has been known for its difficulties of success
This entails entry into a complex market where there are numerous large, local online video platforms such as Bilibili and Haokan, unlike elsewhere with a single dominant player like YouTube.
The unpredictable and difficult aspect of navigating national policy and local regulations with respect to the content space.
When considering the above, it would seem obvious that this is an area where building a successful business let alone thriving is quite challenging, and similarly it would seem particularly difficult for investors both past and present to rationalize such an investment decision in the first place.
But to cite age-old wisdom, what is difficult to solve for me is not limited to me; rather, it is difficult for everyone! Conversely, easy problems are not only easy for me, but easy for others, too.
Consequently, the more difficult a problem is, the more likely that I am the only one, if not one of a limited few, striving to solve it. The tech, networks, experiences, and know-how accumulated through this long and arduous process may not be immediately or outwardly visible, but will pay off in the long run with the knowledge that the higher the difficulty, the greater the first mover's advantage is when a leadership position is established.
And so… Adoba team! For the capabilities and assets that you have steadily and quietly accumulated over a long period of time, and your intrepidity in a market of the highest difficulty… I respect you!
