Chapter 37: The Swan That Lays Golden Eggs
The murmur in the spacious hall grew louder and louder, and even the usually composed judges, who had been calm throughout, became notably busy.
Despite the commotion, Lee Jang-won continued his presentation with confidence.
“Teen users, feeling tired of existing social media platforms like Stargram 1(The term “Stargram” in the original Korean text is likely a misspelling of “Instagram”) and 2TalkTok The term “Talktok” in the original Korean text is likely a misspelling of “Tiktok”, have turned to our ‘Thumbs Up’ as a new communication channel. This has led to a surge of 10,000 new users per hour, resulting in a remarkable viral growth. As a result, ‘Thumbs Up’ achieved the number one spot on the free app store chart just three months after its official launch.”
On the screen, ‘Thumbs Up’ icon occupied the top spot, with popular apps like NerTube and Stargram listed below it.
“In just three months, our Daily Active Users (DAU) have reached 150,000, with a cumulative download count of one million and a generated revenue of 500 million. This data is currently showing a steady upward trend and we anticipate generating over 3 billion in revenue this year.”
The astonishing amount left not only the panelists but also the observing judges in shock.
It was hard to believe that an app, only three months old and initially struggling to generate profit, had achieved such impressive download numbers and revenue.
“There are concerns that anonymity might lead to risks for user safety. However, ‘Thumbs Up’ has implemented measures to ensure that only approved phrases by service operators are included, preventing harmful content. Ultimately, our vision for ‘Thumbs Up’ is to create a virtuous circle where users support and uplift each other through praise and encouragement.”
“What? When did it grow so big so quickly?”
Lee Ji-won asked me, her eyes wide in astonishment, unable to hide her surprise.
I was equally astonished.
While I had helped ‘Thumbs Up’ get off the ground in the early stages, I had only heard reports of its steady growth, and I never imagined it would soar to such heights.
Turning back to the audience, Lee Jang-won delivered his closing remarks.
“At the ‘Korea University Hackathon’, an angel investor who helped develop this service told me something. He said that what is needed to bring about small changes in the world is not enormous ‘technological prowess’ or a lot of money, but rather small ‘awareness of problems’, the ‘sincerity’ and ‘courage’ of entrepreneurs in addressing those problems.”
“Aren’t they talking about you, Oppa?”
Lee Ji-won nudged me with her elbow, asking with a playful grin.
I shrugged awkwardly without saying a word, feeling a bit embarrassed.
Of course, it was true that I had helped in many ways, but I hadn’t expected to be directly mentioned in such a setting.
“This is also the slogan of our ‘Beslo.’ We will strive to become a company that doesn’t simply chase after money but also can contribute positive value to society. Thank you for listening.”
Clap, clap, clap, clap, clap, clap
Applause erupted as Lee Jang-won concluded his presentation.
“Jang-won-ie… I didn’t know he could present so well”
I muttered to myself and Lee Ji-won nodded in agreement.
“He must have practiced a lot. His delivery was smooth and his diction clear.”
The timid and awkward demeanor I had seen when we first met at the hackathon was nowhere to be found.
His once slumped shoulders were now confidently squared and his eyes radiated self-assurance.
“That kid, he’s amazing.”
A mix of emotions surged through me.
It felt like a child who once needed care had now grown up and was ready to fly on their own.
A sense of pride filled my chest, tinged with a touch of bittersweetness.
Afterward, a barrage of questions from over a dozen judges followed.
“Are you considering international expansion?”
“What’s the secret behind achieving such a high MAU 3(Monthly Active Users) and revenue in such a short time?”
“Have you considered collaborating with large corporations?”
The questions were mostly favorable and flowed in a positive direction.
It was a stark contrast to the sharp and pointed questions that had been asked previously.
And finally…
“The winner of South Korea’s Greatest Startup Competition, K-Startup Challenge, is… Congratulations! Team Beslo!”
Woooaaahhh!
The roar of applause and cheers erupted like thunder and all the cameras zoomed in on Lee Jang-won’s stunned face.
Soon, Lee Jang-won clambered onto the stage where he and his team embraced each other, sharing the joy of their victory.
[K-Startup Grand Prize]
Still in disbelief, Lee Jang-won kept touching the award plaque as if to confirm its reality.
With tearful eyes, he took the microphone.
“I can hardly believe this. Just a few months ago, I was treated as a loser and laughed at and to think I’m standing here now…”
Overwhelmed with emotion, Lee Jang-won momentarily struggled to continue.
“Experiences like this really make me realize the importance of entrepreneurial spirit. I actually thought that entrepreneurship wasn’t for me and was about to give up. The last place I thought I’d go was the Korea University Hackathon. It’s where our ‘Thumbs Up’ was born. I met some truly invaluable people there.”
Lee Jang-won’s tear-filled eyes locked onto mine.
I returned his gaze with a proud smile.
“Of course, I was also treated like an outsider there. I didn’t have an impressive academic background and I didn’t have any exceptional skills. I wasn’t even a good speaker either. Looking back now, I must have looked pretty foolish. I even babbled nonsense during the idea pitch.”
I couldn’t help but nod in agreement.
“I agree. You did look a bit foolish.”
“Funny. Remember how adamant you were about making sure we were on the same team?”
Faced with Lee Ji-won’s disapproving gaze, I let out an awkward cough.
“Ahem. Well, he did seem a bit foolish, but I had confidence that he’ll do well.”
“How could you be so sure? Do you have some kind of sixth sense?”
“A sixth sense? Not quite…”
I don’t have a sixth sense, but I can see a golden light.
I smiled proudly as I focused on listening to Lee Jang-won’s acceptance speech.
“Of course, no one wanted to team up with me during the hackathon. It was really tough back then. I thought, ‘I can’t even make it here. Maybe I should just go back to school and start preparing for a job’. That’s when someone approached me. It’s him. He’s sitting right over there.”
At Lee Jang-won’s unexpected action, all eyes, even the cameras, turned toward me.
Caught off guard, I froze.
Just as I was wondering if I should at least wave, Lee Jang-won continued his speech.
“He said he wanted to team up with me. He insisted that if it wasn’t with me, he wouldn’t work with anyone else. I was curious, so I asked, ‘Why me?’ He said it was my sincerity that drew him in. And that’s how ‘Thumbs Up’ was born. Amazingly, we even won first place at the hackathon. But the miracles didn’t stop there. My savior readily offered to invest a significant amount of money and encouraged me to give it my all.”
The audience let out a soft gasp at the intriguing and surprising story.
I could feel curious glances stealing in my direction.
“This guy has more TMI than me. At this rate, he might even tell them what he had for dinner last night.”
I grumbled, prompting a chuckle from Lee Ji-won.
“Why? Everyone’s really into it.”
Lee Ji-won wasn’t wrong.
Despite the crowd of hundreds, it was clear that everyone was completely engrossed in Lee Jang-won’s story.
“It’s touching, yes, but honestly, back then, I was more bewildered than anything. I thought, ‘What on earth does this person see in me to invest so much money?’ We had only known each other for four days at that point. Haha. No offense, Hyung, but for about three seconds, I wondered if you might be a scammer. But then I quickly realized I was just a nobody with nothing to offer.”
“Hahaha!”
A small laugh erupted from the audience.
“Who knew that kid had that sense of humor?”
“They say the position makes the person.”
“I was too curious to hold back, so I asked him directly. ‘Hyung, what did you see in ‘Thumbs Up’ that made you invest so much money?’ And do you know what he said?”
Lee Jang-won’s sparkling eyes turned toward me once more.
“‘I didn’t invest in ‘Thumbs Up’. I invested in the potential of a person named Lee Jang-won. Even if I lose that money. That would be my responsibility, so you just focus on doing your part.’ That’s what he said.”
Clap clap clap clap clap
Applause erupted.
Suddenly, it felt like a fan club meeting with Song Dae-woon and I could feel my face heating up.
Honestly, if I hadn’t seen the golden light in him, I wouldn’t have done such a crazy thing.
“It felt like being hit on the head with a hammer. I realized that while ideas are important, what’s more important is the person behind them. Since that moment, I’ve been running without stopping. Of course, during that time, I received a lot of help from Song Dae-woon Hyung, the angel investor in ‘Thumbs Up’. I can say with certainty that without him, I would never have made it this far. I want to take this honorable moment to express my deepest gratitude. Thank you.”
With those words, Lee Jang-won concluded his acceptance speech and another round of applause erupted.
“That kid… he’s all grown up.”
Even though the speech was almost a praise session, which made me cringe a little, I couldn’t help but feel immensely proud and touched.
The ugly duckling that had once been an outcast had now become a swan that laid golden eggs, soaring high in the vast sky.
At a pub near Sin-dang Station.
“Cheers to Beslo winning the grand prize!”
“Cheers!”
At Jang-won’s hearty toast, everyone clinked their glasses together.
Lee Ji-won had already left, saying she had a family event, leaving only me to be dragged along by Lee Jang-won as if I were being kidnapped.
He insisted that it wouldn’t be meaningful without me.
Anyway, I wasn’t uncomfortable since I was already on friendly terms with the Beslo team, treating them like younger siblings.
There were three team members in total and if I recall correctly, they all met through external startup activities.
Although they were a bit shy, they were all kind and good-natured.
As we were deep into our drinks, Lee Jang-won’s phone suddenly rang and he picked it up.
“Hello? Yes, this is Lee Jang-won. Pardon? Where did you say you’re from? DUK Ventures?”
After that, a serious conversation ensued and a heavy silence fell over the drinking party.
Sigh…
After a twenty minute long call, Lee Jang-won finally ended the call with a deep sigh.
“Why did you look so serious during that call?”
I asked casually, munching on a squid leg.
“They’re a venture capital firm and they want to invest in us…”
“Oh wow! That’s amazing!”
The team members cheered at Lee Jang-won’s words.
“But why do you look like that?”
“I’m just a bit overwhelmed… They want to invest all of a sudden… And it’s a Series B level investment.”
“Series B? How much is that?”
Lee Jang-won mumbled with a dazed expression.
“They’re offering to invest 10 billion won in our company…”
“What?”
The previously lively atmosphere froze at the mention of such a staggering number.
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