Seoul-based Shakr Media Co. is opening an office in Silicon Valley and is looking to hire locally, according to the Wall Street Journal Asia. The video platform and creation company will operate its development team in Seoul, but its founder, David Lee, has relocated to the Mountain View, Calif., office. “Seoul is a great place to run a start-up…but in terms of working with the world’s largest Internet companies, it’s necessary to be here,” he was reported as saying.
Lee is also looking to expand the company’s target market globally and provide services to business customers. Shakr Media offers a free customized video template that turns personal photos and video clips into videos that appear as though they were professionally made.
Although the company offers a free service, its high-definition upgrades are provided for a fee. It also plans to generate revenue from selling customizable video ads for small businesses and real estate agents.
Shakr Media was one of ten companies drawn to Silicon Valley earlier this month for a showcase of Korean startup technology companies at the beGlobal Conference in Palo Alto, Calif. According to the WSJ Asia report, Lee said the interest his company generated from other tech companies and “money men” at the conference helped to convince him to open the office in Silicon Valley. Shakr Media has already received about $2 million in seed funding from investors, including NHN Investment, a Seoul-based venture capital firm, and 500 Startups, a Mountain View, California-based, tech startup accelerator and seed fund.