YP Labs

About YP Labs

YP Labs, established on July 18, 2018, by CEO Yang Yun-ho, operates the social communication platform 'Connecting'. The company's mission is to alleviate loneliness by facilitating genuine conversations through its real-time, 1:1 voice-based matching service. The 'Connecting' app primarily targets the MZ generation, who make up over 90% of its user base.

The platform matches users based on their indicated preferences, such as interests, age, gender, and location, allowing for communication based on voice without revealing one's face. For users who may be hesitant to engage in calls, the app also offers a chat function and a 'feed' where they can create friendships without their main profile being public. An AI feature analyzes conversation styles to suggest compatible partners, providing insights into users' communication habits. The business model includes in-app purchases of virtual items, such as 'Diamonds', which are used for features like making friend requests. Connecting reported that by April 2020, over 600,000 calls were being made on the platform.

YP Labs has secured significant funding to support its growth. The company raised KRW 2.5 billion in a follow-up investment round from Korea Investment Partners and IMM Investment in May 2020. This was followed by a KRW 10 billion Series B round in September 2021, with participation from investors including Mirae Asset Venture Investment, HB Investment, and Hana Ventures.