Flitto Company Deck_1Q17

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INFORMATION MEMORANDUM 1Q 2017

Transcript of Flitto Company Deck_1Q17

Page 1: Flitto Company Deck_1Q17

INFORMATION MEMORANDUM

1Q 2017

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031. Overview

Flitto, beyond languageFlitto aims to be an ultimate translation platform in the world, breaking down all language barriers. Founded in London, UK in 2012, Flitto (HQ is currently

located in Seoul, Korea) currently has more than 6 mil-

lion users. It provides translation services in 18 differ-

ent languages via its website and mobile app.

2016 12 1st place in Sino-British Innovation and Entrepreneurship Competition (China)

11 2nd place in 2016 MARS Innovation and Entrepreneurship Competition (China)

11 1st place in Baidu Golden Bear Hangzhou Road Station Roadshow (China)

02 Participated in Barcelona Mobile World Congress (MWC) (Spain)

2015 10 1st place in DemoTheWorld (China)

10 Acquired ICP License for Flitto China

03 Flitto China(翻易通 Flitto, 北京飞译网络技术有限公司 ) established (Beijing, China)

2014 07 1st place in Idea Show Demoday (Taiwan)

02 1st place in Seedstars World Competition (Switzerland)

2013 12 1st place in KBS ‘Golden Pentagon’ competition

12 1st place in Startup 2013 organized by Industry of Science, ICT and Future

10 Representative firm of Korea selected by Start Tel Aviv (The Israeli Ministry of Foreign Affairs)

08 Representative firm of Korea selected by Seedstars World

05 Won the Grand Prize at Start Up Competition

05 Case of Creative Economy selected by Industry of Science, ICT and Future (Korea)

03 Ranked in top 7 services at SXSW 2013

02 Selected by World Wide Investor Network(NY, the U.S.)

2012 12 First in Asia to conduct IR(Investor Relation) at FACEBOOK headquarters

10 Won the Grand Prize at London Forester Morrison Start Up Competition

09 First in Asia to be selected as the Techstars London Incubating firm

09 Flitto established

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Flitto, Beyond Language

In 18 differentlanguages

18+More than 1 million trans-

lators

1M+In 173 different

countries

173+6 million

global users

6M+

1. Overview

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User Base : Mobile App RankingFlitto mobile app is becoming widely recognized across the world as reflected in app ranking charts of major countries such as Korea, China, France, and Jordan.

Korea China Jordan France

1. Overview

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Translation Market and Flitto

SolutionsIndividuals/Companies can simply post requests on Flitto. Such requests will be delivered to millions of translators with high participation rates.

Problems Requestors struggle to find a right transla-

tor with reasonable price Machine translation is not capable of of -

fering context-based, accurate transla-

tions

1. Overview

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Individual & CompanyIn need of translation

TranslatorsSearching for translation jobs

Translation Market and Flitto

1. Overview

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092. Key Features

Flitto ServicesFlitto strives to offer a total solution for all translation needs.

CrowdsourcedTranslation

Professional Translation Discovery

Many users can easily partic-ipate and request in many

languages.

For business users to com-plement crowdsourced trans-

lation.

Different contents which allow users to participate in

translating.

Provides real-time translations depending on users’ GPS and

our database.

Real-time Image Translation

1 2 3 4

Click Here

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10Crowdsourced Translation

Once translation is requested, it is notified to more than 100 translators, hence users can receive their translation in a short period of time (10 mins aver-

age).

• Fast and affordable human powered translation

• Request available in text, image, and voice for diverse range of lan-

guages• Choose a translation according to preference

• Collect points by participating in short sentenced translations• Points can be converted to cash• Flexible in selecting which request to translate

Requestor

Translator

Purchase Points Request Translation Select Translation Receive Request Participate in Translation Be selected and Receive Points

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11Crowdsourced Translation

TextIn Flitto’s user-friendly interface, text based translation requests are made quickly and easily. Any sort of text such as slang or abbreviations can also be translated.

Simple User Interface Long texts are broken down into sections

Click Here

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ImageFor situations/circumstances where text-based requests

are difficult, users always have an option to make re-

quests by simply taking picture and posting it.

VoiceWhen users cannot understand a language they are lis-

tening to, they can record it and send a request for translation.

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If you scan a QR code it will show translations in many different languages.

QR codeReceive instant translations for menu and signboards when Flitto QR(Quick Response) Codes are scanned.

Crowdsourced Translation

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161:1 Professional Translation

1) 1:1 Professional TranslationFitto is a platform which is structured with pro-

fessional translators from various fields. Profes-

sional translators are strictly selected through our qualification test. Individuals and companies that require high quality translation can request to translators in specific fields. Our user friendly interface will help reduce time and price during the translation process.

Requestor• Most accurate, fast and economical translations from professional translators• Wide pool of translators to select from (over 1,000 translators)• Can directly communicate with the translator

Translator• Lowest commission fees in the market• Has more freedom to choose which translation projects to work on

Find & Select Translator

Communicate with Translator

Check Draft Confirm and Make Payment

Receive Request Communicate with Requestor

Receive PaymentSend Final Transla-tion

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2) Professional Translation Management ServiceFlitto also provides translation management service for specific requirements such as massive volume, professional material that need to be TEP (Trans-

lated-Edited-Proofread), required to be translated with a specific tool or if no translator is available in the specific field. A project manager will be assigned to those projects by inquiring to [email protected].

1:1 Professional Translation

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18Discovery

Sharing contents from/to the Social Media

Contents from popular celebrities’ So-

cial Media and other Cultural Contents

are translated into 18 different lan-

guages by Flitto’s users. This service supports Flitto in gathering corpus in various types of fields. Also, providing such entertainment shows the effect of

increasing retention within the plat-

form.

SNSContents

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193. Business Model - 1

B2B Revenue – Flitto’s Available CorpusFlitto has accumulated millions of text & speech corpus during the process of our crowdsourcing translation and quality control system. These translations can be used to develop interpretation and translation engines, and speeches can be used for voice recognition and AI system.

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B2B Revenue – Large Volume Translation & Speech ProjectWith more than 1 million translators from diverse range of background, Flitto is an expert of text & speech translation projects in large volumes. It can be completed in a short period with the lowest price. Below are our main clients using Flitto’s corpus.

3. Business Model - 2

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214. Executive Profile

• BA in Business Administration, Korea Univ.

• Former CEO, Flyingcane

• Manager, SK Telecom / SK Planet

Simon Lee Founder / CEO

• BA in Computer Science, Yonsei Univ.

• Former engineer, Great Human Software

• Manager, SK Telecom / SK Planet

Dan Kang Co-founder / CTO

• BA in Computer Engineering, POSTECH

• Manager, SK Telecom / SK Planet

Jin Kim Founder / CSO

• BA in Business Administration, Shenyang Univ.

• Worked for Baidu, Weibo, 56.com and NetEase

Henry Huang Director of Flitto China

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225. Press

Flitto’s growth has been spotlighted by various world renowned press and media including BBC, CNN and Forbes.

BBC “How doing homework for friends inspired a global company”

CNN “On the road: South Korea tech start-ups”

Tech in Asia “A win for Asia at Seedstars World event thanks to Korea-made app Flitto”

Forbes "Korean Entrepreneurs Getting Attention With Innovative Startups“

Forbes “Korea's Entrepreneurs Garner Global Validation As Local 'Startup' Valuations Soar Into The Billions”

Maeil Business “A mobile app easily removes the language barriers in the world”

KBS Special Documentary film “Ventures; Challenge of Korean Youth”

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