Lately, domestic products, including cosmetics, have been gaining significant attention overseas under the names of K-Beauty and K-Food. However, for the majority of businesses, global market success remains a distant dream. 

Numerous barriers still exist when attempting to sell products to global users. Even after selecting an overseas shopping platform, businesses face a critical challenge: how to effectively introduce their products to unfamiliar international consumers.

Enter Greyd, a company offering a solution to these challenges through innovative video reviews. As a global social commerce platform based in Korea, Greyd aims to introduce Korean products to the world market by leveraging video content. 

Their primary focus is helping Korean small and medium-sized enterprises (SMEs) expand globally by utilizing foreign communities residing in Korea to conduct comprehensive global review campaigns.

Greyd supports e-commerce sellers in entering international markets, contributing to sales optimization and brand awareness. The company generates revenue through both B2B and B2C models, with a strategic emphasis on B2B sales via global review campaigns. 

They have already reached their break-even point and continue to strengthen their marketing efforts, particularly through programs like the ‘K-Startup Grand Challenge 2024‘ which helps overseas startups enter the Korean market.

Company Introduction

We are Greyd, a global social commerce platform that leverages video-based AI to connect Korean products with a global audience.

What problem are you trying to solve?

Our research shows that only 2% of the 7 million SMEs in Korea have global exposure or experience exporting overseas. We aim to bridge this gap by helping Korean SMEs expand globally.

How are you solving this problem?

We onboard Korean products onto our platform, Greyd, and run global review campaigns. These campaigns involve our expat community in Korea, who serve as brand ambassadors. They use and review Korean products, sharing their experiences with their primarily international followers, which helps these products gain global exposure.

What is your competitive advantage?

Our strength lies in our well-established global community, particularly among expats in Korea. This community is highly engaged, spreading word-of-mouth quickly and actively exploring Korean products and services. Our unique ability to mobilize this sticky and active community gives us a significant edge in exposing Korean products globally.

What services do you provide, and what is your current status?

Greyd is a video review-based social commerce platform. While B2C conversions take time, we focus on B2B campaigns first. We onboard an average of 7 clients monthly, conducting global review campaigns targeting specific countries. These campaigns generate B2B cash flow, and we reached break-even this May. As we grow, we aim to transition into a B2C platform using insights from our campaigns.

What is the target market size and key customers?

Our market aligns with the global e-commerce market, but we currently focus on curated Korean products. With 7 million potential SME clients in Korea and a steady onboarding rate increasing by 10–15% monthly, we are targeting a rapidly growing and expansive market.

Why did you enter the Korean market and what are your goals?

I moved to Korea five years ago with the vision of helping Korean brands go global. By 2025, we aim to take at least five Korean brands viral globally, achieving $100 million in B2C sales and solidifying our position as a leading B2C social commerce platform.

What is your business model?

Our B2B model includes global review campaigns for Korean brands, with campaign fees ranging from $10,000 to $50,000. We also earn a 15% referral fee on B2C sales through our platform, making these two streams our primary revenue sources.

What are your key achievements so far?

We achieved break-even in May and have seen repeat clients due to successful campaigns. For example, a pet product’s sales tripled after partnering with us. These accomplishments reinforce our mission to drive global exposure for Korean brands.

What is the unique strength of our team?

Our team comprises experienced professionals, many of whom are expats, giving us deep insight into our target community. We specialize in targeting untapped markets like India and South America, areas often overlooked by Korean SMEs focused on traditional markets like the US or China.

What is currently most needed to expand in the Korean market?

We’ve entered the Korean market successfully and are growing steadily. Our priority now is finding viral-worthy curated Korean products. As these products gain global recognition, our platform will achieve viral success alongside them.

Any additional information to share?

We are actively seeking exceptional Korean products with global market potential. If you know of promising products or services that could captivate international consumers, please contact us at info@arbaim.com or search for ‘Greyd’ online to connect.