Doeat

About Doeat

Doeat (두잇) is a South Korean food delivery platform founded in 2022 by Ian Yunseok Lee, Kirok Kwon, and Jae-won Lee. CEO Ian Yunseok Lee, a KAIST physics graduate with prior experience as a developer and product owner at Coupang and Toss, was driven by a desire to enact societal change, viewing the startup model as a potent vehicle for improving people's lives. This vision is shared by co-founder Kirok Kwon, who left a stable career after his Ph.D. in Mechanical Engineering to solve real-world problems through technology.

The company operates a mobile application that provides food delivery services, primarily targeting the growing market of single-person households in densely populated urban areas. Doeat's core business strategy revolves around a group buying model; it pools orders from users in close proximity to create team orders. This approach optimizes delivery routes and logistics, which allows the company to offer a compelling zero-delivery-fee service, a significant differentiator in the competitive food delivery market. Initially launched in select districts of Seoul, the service is expanding its coverage to other high-density neighborhoods.

Doeat generates revenue through commissions from partner restaurants and has expanded its offerings beyond a simple marketplace. The platform now includes curated meal services like "Doit Today" and "Doit Special," a health-focused "Doit Green" line, and meals from its own private brand, "Doit Amazing." A paid membership, 'Doit Club,' offers additional benefits, positioning the company as a comprehensive food subscription service. The company has successfully raised significant capital, securing a total of 30.6 billion KRW in its Series A funding rounds from investors including Goodwater Capital, #Hashed, and SBVA, to fuel its regional and business expansion.