You know, there's this company called Carrot Market, and you might be wondering if they can really keep the money rolling in with what they're doing. Carrot Market is a big deal in Korea, known for being the go-to spot to buy and sell all that old stuff that's been lying around your house. They've started their business with an app where folks can do all their buying and selling. They've got a whopping 20 million Monthly Active Users(MAU). I mean, it's like almost every Korean adult who's into buying and selling stuff is hanging out on their platform.
But, here's the kicker. They don't charge a dime(=ten cent coin) to use their platform. Instead, they throw in some ads from sponsors on their app. That's basically their only money-making move. Even with all those users, it's like they're just dipping their toes in the money pool when there's a whole ocean of opportunities out there.
Their business isn't exactly rocket science, and competitors could easily copy it. So, if they start charging users, folks might just bail and head over to the competition. Now, let's take a look at a platform like Naver, the search giant. People go there not just to search stuff but also to check out news, do some grocery shopping, and more. It means Naver keeps drawing un users without a hitch, which allows them to jack up their ad prices from sponsors.
Carrot Market should think about adding some other kind of business on their platform with those 20 million users. Having 20 millon MAU is no small feat, I'll give 'em that.
The company, Carrot Market, could make money in the way they've been doing? Carrot Market is so famous in Korea for the platform where you can buy and sell old stuffs that has slept in your home. They've launched their app where people can do commercial stuffs. Monthly Active User(MAU) is 20 million. It is like most of Korean adults who can buy and sell stuffs are using their platform.
But, here's the thing. They don't charge users for the use of their platform. On the other hand, they pop up some ads from sponsors in their app. That's all they can only do to make money. Although they have so many users, they are not diving into the place full of opportunities for money.
Their business is not that hard for other competitors to copy it. So, if they charge users, they might run away from their platform and move to their competitors' platform. And, even though their MAU is much bigger than other platform, users just visit there to trade their stuff and don't come back till they trade. Like search platform, Naver, people visit there to search something, watch some news, buy some groceries and so on. It means Naver can keep attract usuers without stops, which can lead to raising their price for ads from sponsors.
Carrot Market should create some other business in their platform with 20 million users. Having 20 million MAU is not that easy, I gotta admit.
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