Leading South Korea-based general marketplace Daangn is poised to post its first full-year operating profit for the last year as its traditional cost-per-click revenue stream has been broadened by new rollouts, reports DealSite, citing banking industry’s data.

Daangn, which is to make its results public in April, was expected to turn an operating profit in the range of KRW15 and 30 billion ($11 to 22 million U.S.) for 2023.

Like its main competitors — Bunjang and Joongna — Daangn continued to book operating losses for several years primarily because of growth-oriented strategies. In 2022, its operating loss was 113% of its revenue.

Now since the sales revenue reached KRW100 billion ($75 million) in 2023, compared to KRW49.9 billion in 2022, KRW25.7 billion in 2021 and KRW11.8 billion in 2020, the last year’s operating profit was estimated at up to KRW30 billion, according to DealSite. Another media report put it at around KRW20 billion.

The turnaround was evidently an outcome of Daangn unlocking new revenues from e.g. hyperlocal rectech service rolloutused-car inspection and group buying in addition to its key cost-per-click funnel.

Daangn, founded in 2015, is a marketplace for used goods and cars, part-time jobs and real estate. It also operates in the U.K., the U.S., Canada and Japan under the brand name Karrot Market.

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