Dear U Explained

Dear U Co., Ltd.
Native Name:디어유
Native Name Lang:ko
Former Name:everysing (2017–2020)
Type:Public
Industry:Software development
Location:4F, 633, Samseong-ro
Hq Location City:Gangnam District, Seoul
Hq Location Country:South Korea
Key People:Ahn Jong-oh (CEO)
Lee Hak-hee (COO)
Parent:SM Studios

Dear U is a South Korean software development company under SM Studios, a wholly-owned subsidiary of SM Entertainment. The company was formerly called Everysing and was established in July 2017. It merged with Brinicle as it emphasized the union of information technology and entertainment business. It specializes in hosting multimedia content and artist-to-fan communications for artists and offers products and services including Everysing, Lysn, and Bubble.

History

2017–2020: Establishment and merger

In July 2017, Dear U was established under the name of Everysing, which was founded by SM Entertainment with an investment of 6 billion won.[1] In September 2018, Avex invested 5 billion won on the company with a capital increase of 500 million won. On January 1, 2019, the company merged with Brinicle, whose main business is software development and supply.[2] After the merger, it provided a fan community platform, Bubble, as its main service.[3] The flagship service of Dear U, Bubble, came from noting SM's experience in managing fan clubs and Brinicle's ability to develop messenger services.[4] Lee Soo-man entrusted the chief executive officer position of the company to Ahn Jong-oh, who was also the CEO of Brinicle. Additionally, Lee has increased the related manpower pool while emphasizing the combination of information technology and entertainment business.

2021–present: Restructuring and stock acquisition

On March 16, 2021, Dear U announced that they have raised the annual salary of all its employees by 15 million won.[5] The company raised its annual salary to secure high-quality manpower to develop Bubble and Lysn applications.[6] Lee Hak-hee, the chief operating officer of the company stated that Dear U is "paying attention" in "securing competitiveness" through "excellent" human resources.[7] Through a public announcement on April 5, SM Entertainment established a wholly-owned subsidiary to promote the restructuring of group affiliates and to improve business structure.[8] It was reported that SM would invest in SM Studios as it established a new corporation with all shares of SM Culture & Contents, KeyEast, SM Life Design Group, Dear U, and Mystic Story, on which it seeks to streamline group management through a responsible management system as it plans to focus more on the music business.[9] [10]

On June 4, 2021, SM reported that JYP Entertainment had acquired a 23.3% stake in Dear U as it began to expand its influence in the platform business.[11] [12] JYP announced the acquisition of an additional 14.1% of the old common stock of the company owned by SM Studios.[13] Previously, on May 26, JYP had an acquisition of 1,682,000 shares of the company's old common stock.[14] It had a stake of 9.1%, at about 8.4 billion won, and the final number of shares acquired was 4,285,192 shares with a 23.3% stake, and the investment amount was about 21.4 billion won.[15] [16] Its goal is to grow Dear U Bubble into a competitive mobile platform in the global market, noting the "synergy" between the two companies with global networks.[17]

Previously, the entertainment industry and investment banking industry reported that Dear U is currently undergoing due diligence to apply for a preliminary examination for listing on the Korea Exchange.[18] On June 11, 2021, the company submitted a preliminary review request for KOSDAQ listing to the Korea Exchange and started the initial public offering (IPO) process.[19] It aims to be listed in the second half of this year in order to establish itself as a leading company in the global market, and the listing organizer is Korea Investment & Securities.[20] Through the IPO, the company is planning to increase its "corporate awareness" and invest in developing a global message platform that will provide various services such as entering overseas markets and expanding platforms such as metaverse.[21] It listed about 16,812,769 shares, of which near 20% will be put up for public offering.[22]

Products and services

Lysn and Bubble service

See main article: articles and Lysn. Dear U's core business, Dear U Bubble, is a service platform that receives personal messages written by artists.[23] It can be downloaded from application markets and purchase it as a regular subscription for 4,500 won per month. Starting with SM Entertainment, Dear U Bubble, which was launched in February 2020, has signed contracts with a total of 25 local entertainment companies, including JYP Entertainment, FNC Entertainment, Jellyfish Entertainment, WM Entertainment, Brand New Music, Play M Entertainment, Top Media, RBW and Mystic Story, and is currently with a total of 39 groups and 21 solo artists, with a total of 247 artists.[24] It was reported that the service has a "steady increase" in the number of subscribers, with the current share of global users reaching 70%.[25] In the future, it plans to recruit not only Korean artists, but also American and Japanese artists as it plans on continuing to expand various additional services in order to strengthen its position as a "global platform".

List of Bubble services offered by Dear U!Application!Participating Artist!Company!
LysnSM Entertainment[26]
Bubble for JellyfishJellyfish Entertainment[27]
Bubble for JYPnationJYP Entertainment[28]
Bubble for WMWM Entertainment[29]
Bubble for TopTop Media[30]
Bubble for ISTIST Entertainment[31]
Bubble for RBWRBW[32]
Bubble with Stars
Bubble for StarshipStarship Entertainment[33]
Bubble for CubeCube Entertainment[34]
Bubble for BPMBPM Entertainment[35]
Bubble for Sports[36]
Bubble for Actors[37]
Bubble for Treasure HunterTreasure Hunter[38]
Bubble for INB100INB100[39]
Bubble for GOLDMEDALISTGold Medalist[40]
List of defunct Bubble services offered by Dear U!Application!Participating Artist!Company!Date of defunct!
Bubble for FNCFNC EntertainmentDecember 31, 2022[41]

External links

Notes and References

  1. News: Choi. Pil-woo. May 28, 2021. ko:SM '디어유' 첫 흑자, '위버스·유니버스' 대항마 될까. ko. SM 'Dear U's First Surplus, Rival Against 'Weverse·Universe'. The Bell. live. July 22, 2021. https://web.archive.org/web/20210722130921/http://www.thebell.co.kr/free/Content/ArticleView.asp?key=202105271021015200107162&svccode=. July 22, 2021.
  2. News: Kim. Yong-jae. June 15, 2021. ko:[특징주] 에스엠 '트리플 호재'에 연일 고공행진. ko. [Featured Note] Marching High Day After Day on SM's 'Triple Good News'. Herald Business. live. July 17, 2021. https://archive.today/20210717033634/http://news.heraldcorp.com/view.php?ud=20210615000349. July 17, 2021.
  3. News: Choi. Pil-woo. June 7, 2021. ko:JYP엔터, SM 디어유 '혈맹'…하이브·YG 동맹에 맞불. ko. JYP Entertainment, SM Dear U 'Blood Alliance'…Revenge on HYBE·YG Alliance. The Bell. live. July 17, 2021. https://web.archive.org/web/20210717093305/http://www.thebell.co.kr/free/Content/ArticleView.asp?key=202106041622069680105332&svccode=. July 17, 2021.
  4. News: Kim. Gun-woo. July 3, 2021. ko:하이브 뒤쫓는 SM·JYP 연합...팬덤 사로잡을 新비밀병기는?. ko. SM-JYP Alliance Chasing HYBE...What's the Secret Weapon to Capture Fandom?. Money Today. live. July 17, 2021. https://web.archive.org/web/20210703113132/https://news.mt.co.kr/mtview.php?no=2021070215205647029. July 3, 2021.
  5. News: Seong. Soo-young. June 16, 2021. ko:돈 되는 K팝 팬덤…"엑소·샤이니가 매일 말 걸어줘요". ko. A K-Pop Fandom that Makes Money... "EXO and SHINee Talks to Me Everyday". The Korea Economic Daily. live. July 23, 2021. https://web.archive.org/web/20210616205355/https://www.hankyung.com/life/article/2021061660701. June 16, 2021.
  6. News: Jeong. Da-eun. March 16, 2021. ko:SM엔터 IT 계열사 디어유도 전 직원 연봉 1,500만 원 인상. ko. SM Entertainment's IT Affiliate Dear U, Raises the Annual Salary of All Employees by 15 Million Won. Seoul Economy. live. July 23, 2021. https://web.archive.org/web/20210317013347/https://www.sedaily.com/NewsVIew/22JTWVQ679. March 17, 2021.
  7. News: Yoo. Eun-jung. March 16, 2021. ko:디어유, 전직원 연봉 1,500만원 일괄 인상...대규모 개발인력 유치에 나서. ko. Dear U, 15 Million Won Raise to All Employees' Annual Salary...To Attract Large-scale Development Personnel. Electronic Times. live. July 14, 2021. https://web.archive.org/web/20210714031504/https://www.etnews.com/20210316000234. July 14, 2021.
  8. News: Park. Su-in. April 5, 2021. ko:SM엔터, 비음악 사업 통합관리 자회사 '에스엠스튜디오스' 설립. ko. SM Entertainment Establishes 'SM Studios', A Non-music Business Integrated Management Subsidiary. Newsen. live. July 23, 2021. https://web.archive.org/web/20210717134031/https://www.newsen.com/news_view.php?uid=202104051641598010. July 17, 2021.
  9. News: ko:SM엔터테인먼트, 비음악 사업 통합관리 자회사 '에스엠스튜디오스(SM Studios)' 설립. ko. live. July 24, 2021. https://web.archive.org/web/20210717140545/https://entertain.naver.com/read?oid=215&aid=0000948839. July 17, 2021.
  10. News: ko:SM 엔터, 에스엠스튜디오스 설립…비음악사업 통합 관리. ko. live. July 24, 2021. https://web.archive.org/web/20210405080651/https://tenasia.hankyung.com/music/article/2021040502824. April 5, 2021.
  11. News: Park. Sang-woo. June 24, 2021. ko:SM·JYP, 플랫폼 '디어유 버블'로 협력 관계 지속. ko. SM·JYP Continues Collaboration with Platform 'Dear U Bubble'. Ilgan Sports. live. July 15, 2021. https://web.archive.org/web/20210715094608/http://isplus.live.joins.com/news/article/article.asp?total_id=24074779. July 15, 2021.
  12. News: Hong. Se-young. June 4, 2021. ko:JYP, SM과 손 잡았다…디어유 지분 취득. ko. JYP, SM had Joined Hands…Acquisition of Dear U Equity. Sports Donga. live. July 15, 2021. https://web.archive.org/web/20210715094609/https://sports.donga.com/article/all/20210604/107273853/1. July 15, 2021.
  13. News: Son. Bong-seok. June 4, 2021. ko:JYP, SM 자회사 디어유 지분 23.3% 취득. ko. JYP Acquires 23.3% Stake in Dear U, A Subsidiary of SM. Sports Kyunghyang. live. July 15, 2021. https://web.archive.org/web/20210715094624/http://sports.khan.co.kr/entertainment/sk_index.html?art_id=202106041633003&sec_id=540301&pt=nv. July 15, 2021.
  14. News: Hwang. Hye-jin. June 4, 2021. ko:SM-JYP 손잡았다, 글로벌 모바일 플랫폼 영향력 확장. ko. SM-JYP Joins Hands, Expanding Global Mobile Platform Impact. Newsen. live. July 15, 2021. https://web.archive.org/web/20210715095929/https://www.newsen.com/news_view.php?uid=202106041631350410. July 15, 2021.
  15. News: Jung. Ji-won. June 4, 2021. ko:JYP, SM 자회사 '디어유' 지분 23.3% 취득…플랫폼 비즈니스 확장. ko. JYP Acquires 23.3% Stake in 'Dear U', A Subsidiary of SM…Platform Business Expansion. live. July 15, 2021. https://web.archive.org/web/20210715143734/http://www.joynews24.com/view/1373347. July 15, 2021.
  16. News: Jung. Min-ha. June 4, 2021. ko:JYP엔터, SM엔터 알짜 자회사 '디어유' 주식 260만주 취득…"상장 기대감↑". ko. JYP Entertainment Acquired 2.6 Million Shares in 'Dear U', A Subsidiary of SM Entertainment…"Expectations for Listing↑". Biz Chosun. live. July 15, 2021. https://web.archive.org/web/20210715143733/https://biz.chosun.com/industry/company/2021/06/04/E44ZSMQ2WBC55L4ZAHFCBRADYA/?utm_source=naver&utm_medium=original&utm_campaign=biz. July 15, 2021.
  17. News: Kim. Soo-jin. June 4, 2021. ko:SM-JYP, 버블로 뭉쳤다..글로벌 모바일 플랫폼 도약. ko. SM-JYP, Bunched Up in Bubble..Global Mobile Platform Takeoff. StarNews. live. July 15, 2021. https://web.archive.org/web/20210715100422/https://star.mt.co.kr/stview.php?no=2021060416345673128. July 15, 2021.
  18. News: Jung. Min-ha. Kim. So-hee. May 27, 2021. ko:SM엔터 알짜 자회사 '디어유', 이르면 하반기 코스닥 상장. ko. SM Entertainment's Net Subsidiary 'Dear U', To be Listed on KOSDAQ as Early as the Second Half of the Year. ChosunBiz. live. July 16, 2021. https://web.archive.org/web/20210527054746/https://biz.chosun.com/stock/stock_general/2021/05/27/EXYRZVD2TNANHHHZSRAPWKZALQ/. May 27, 2021.
  19. News: Choi. Ji-eun. June 14, 2021. ko:디어유, 코스닥 상장 예비심사청구서 제출. ko. Dear U, Submits a Preliminary Review Claim for Listing on KOSDAQ. Top Daily. live. July 16, 2021. https://web.archive.org/web/20210716035437/http://www.topdaily.kr/news/articleView.html?idxno=106943. July 16, 2021.
  20. News: Baek. Yoon-gi. June 14, 2021. ko:'SM 자회사' 디어유, 코스닥 상장 추진. ko. 'SM subsidiary' Dear U, Promoting Listing on KOSDAQ. E Daily. live. July 16, 2021. https://web.archive.org/web/20210614013601/https://www.edaily.co.kr/news/read?newsId=01180806629081720&mediaCodeNo=258. June 14, 2021.
  21. News: Shin. Jin-ah. June 14, 2021. ko:니쥬도 입점한 '팬-가수 플랫폼' 디어유, 하반기 IPO. ko. Dear U, 'Fan-Singer Platform' that NiziU has also Entered, IPO in Second Half. Financial News. live. July 16, 2021. https://web.archive.org/web/20210716055600/https://www.fnnews.com/news/202106140941277878. July 16, 2021.
  22. News: June 15, 2021. DearU under SM Entertainment to go public on Kosdaq. Pulse by Maeil Business News Korea. live. July 16, 2021. https://web.archive.org/web/20210716044626/https://pulsenews.co.kr/view.php?sc=30800028&year=2021&no=577726. July 16, 2021.
  23. News: Moon. Byung-do. March 16, 2021. ko:디어유, 전직원 '연봉 1500만원' 일괄 인상…대규모 개발인력 유치 추진. ko. Dear U, Raises All Employees' 'Annual Salary of 15 Million Won'…Promotion of Attracting Large-scale Development Personnel. News Works. live. July 14, 2021. https://archive.today/20210714025948/http://www.newsworks.co.kr/news/articleView.html?idxno=534527. July 14, 2021.
  24. News: Kim. Na-yeon. July 16, 2021. ko:아이즈원 출신 강혜원, '디어유 버블' 서비스 오픈…팬들과 특별한 소통. ko. Kang Hye-won from IZ*ONE, Opens 'Dear U Bubble' Service, Special Communication with Fans. Single List. July 16, 2021. July 16, 2021. https://web.archive.org/web/20210716004202/http://www.slist.kr/news/articleView.html?idxno=268114. live.
  25. News: March 16, 2021. ko:디어유, 전직원 '연봉 1,500만원' 일괄 인상…대규모 개발인력 유치 나서. ko. Dear U, To Raise all Employees' 'Annual Salary of 15 Million Won'…Attracting Large-scale Development Personnel. JoongAng Ilbo. live. July 14, 2021. https://web.archive.org/web/20210320030124/https://news.joins.com/article/24013129. March 20, 2021.
  26. News: Bae. Yo-han. July 15, 2021. ko:HYBE·SM·YG·JYP 엔터 4사…실적·주가 전망도 '맑음'. ko. HYBE·SM·YG·JYP Enter Four Companies…Earnings and Share Price Outlook 'Clear'. Seoul Economy TV. live. July 17, 2021. https://web.archive.org/web/20210717032757/http://www.sentv.co.kr/news/view/598039. July 17, 2021.
  27. News: Ha. Na-young. June 14, 2021. ko:SM 자회사 '디어유', 코스닥 상장 추진…예비심사청구서 제출. ko. SM Subsidiary 'Dear U', Pushing for Listing on KOSDAQ…Submitting a Preliminary Examination Claim. Digital Chosun. live. July 17, 2021. https://web.archive.org/web/20210717032003/http://digitalchosun.dizzo.com/site/data/html_dir/2021/06/14/2021061480040.html. July 17, 2021.
  28. News: Yoon. So-yeon. June 4, 2021. JYP acquires stake in SM's IT subsidiary. JoongAng Ilbo. live. July 15, 2021. https://web.archive.org/web/20210604085502/https://koreajoongangdaily.joins.com/2021/06/04/entertainment/kpop/SM-Entertainment-JYP-Entertainment-Lysn/20210604172800238.html. June 4, 2021.
  29. News: Kim. Hyun-ah. March 16, 2021. ko:프라이빗 메시지 '디어유', '전직원 연봉 1500만원' 인상. ko. Private Message 'Dear U', 'All Employees Increase Annual Salary of 15 Million Won'. E Daily. live. July 17, 2021. https://web.archive.org/web/20210717031321/https://www.edaily.co.kr/news/read?newsId=01846646628983976&mediaCodeNo=257. July 17, 2021.
  30. News: Kim. Hyo-jung. May 3, 2021. ko:[게시판] 메시지앱 '버블' 티오피·플레이엠 가수도 참여. ko. [Bulletin Board] Top and Play M Singers Also Participated on 'Bubble' Message App. Yonhap News Agency. live. July 13, 2021. https://web.archive.org/web/20210713060648/https://www.yna.co.kr/view/AKR20210503052400005?input=1195m. July 13, 2021.
  31. News: Kim. Na-yeon. July 19, 2021. ko:에이핑크 정은지·김남주·오하영, '디어유 버블' 개인 서비스 오픈. ko. Apink's Jung Eun-ji·Kim Nam-joo·Oh Ha-young, Opens Personal Service for 'Dear U Bubble'. Single List. live. July 24, 2021. https://web.archive.org/web/20210724144021/http://www.slist.kr/news/articleView.html?idxno=268768. July 24, 2021.
  32. News: Sang. Hyun-ho. October 5, 2021. ko:원어스-원위-퍼플키스, 디어유 버블 합류 예고…"7일에 만나요". ko. Oneus-Onewe-Purple Kiss to join 'Dear U bubble'... "See you on the 7th". Top Star News. October 7, 2021. October 7, 2021. https://web.archive.org/web/20211007044326/http://www.topstarnews.net/news/articleView.html?idxno=14635772. live.
  33. Web site: https://entertain.naver.com/read?oid=021&aid=0002552445. ko:아이브·몬스타엑스…'스타쉽' 아티스트 '디어유' 입점. Culture Daily. Naver. Ahn. Jin-yong. January 19, 2023. January 19, 2023. ko. January 19, 2023. https://web.archive.org/web/20230119033705/https://entertain.naver.com/read?oid=021&aid=0002552445. live.
  34. Web site: 디어유 ‘버블 포 큐브 (bubble for CUBE)’, 큐브엔터테인먼트 소속 아티스트 전용 프라이빗 메시지 서비스 오픈 . Dear U 'bubble for CUBE', opened a private message service exclusively for artists under Cube Entertainment . Star Daily News (in Korean) . April 12, 2023.
  35. Web site: 디어유버블, 새 아티스트 렌-비비지-소유 합류 예고…“조금만 기다려주세요” . Dear U Bubble, announces the joining of new artists Ren, Viviz and Soyou... "Please wait a minute" . Top Star News (in Korean) . April 17, 2023.
  36. Web site: 김연경·김수지·양효진도 버블한다, '버블 포 스포츠' 론칭(공식) . Kim Yeon-kyung, Kim Su-ji, and Yang Hyo-jin also bubble, launching 'Bubble for Sports' (official) . Nate (in Korean) . March 27, 2023.
  37. Web site: 안보현·임수향·신예은·신은수, '버블 포 액터즈' 이달 오픈 . Ahn Bo-hyun, Im Soo-hyang, Shin Ye-eun and Shin Eun-soo, 'Bubble for Actors' opens this month . Nate (in Korean) . March 27, 2023.
  38. Web site: 디어유, 크리에이터 전용 '버블 포 트레져헌터' 오픈 . Dear U, creator-only 'Bubble for Treasure Hunter' opens . News1 (in Korean) . March 27, 2023.
  39. Web site: 백현·시우민·첸, '버블' 오픈 첫 날부터 트래픽 터졌다…화력 입증 . Baekhyun, Xiumin, Chen, 'Bubble' traffic exploded from the first day of opening... Firepower proven . Sedaily (in Korean) . May 20, 2024.
  40. Web site: 김수현, ‘버블’ 오픈…누리꾼들 뜻밖의 반응 보였다 . Kim Soo-hyun opens ‘bubble’… Netizens showed an unexpected reaction . Seoul Pn (in Korean) . August 5, 2024.
  41. News: June 14, 2021. ko:디어유, 코스닥 상장 추진. ko. Dear U, To Push for Listing on KOSDAQ. Korea Benchmark. live. July 17, 2021. https://web.archive.org/web/20210717032331/https://kbench.com/?q=node%2F222264. July 17, 2021.

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