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Socar company logo
Corporation
MOBILE & TELECOMMUNICATIONS | Mobile Commerce / Travel (mobile)
socar.kr

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Investments

4

Portfolio Exits

1

Partners & Customers

10

About Socar

Socar (403550.KS) operates a car-sharing mobile application. Its platform allows travelers to share cars with others who are traveling the same route. It was founded in 2011 and is based in Jeju-do, South Korea.

Socar Headquarters Location

Orasam-dong 42 Yeonmi-gil

Jeju-do,

South Korea

+82 16613315

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Expert Collections containing Socar

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Socar in 4 Expert Collections, including E-Commerce.

E

E-Commerce

9,766 items

O

On-Demand

1,251 items

M

Mobility-as-a-Service

559 items

Companies developing solutions to streamline the way people move themselves. Includes companies providing on-demand access to passenger vehicles and micromobility solutions as well as companies integrating multiple modes of transport, including public transit, into one service.

A

Auto Commerce

539 items

Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.

Socar Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Socar Rank

Latest Socar News

SOCAR makes muted start on 1st day of market debut

Aug 22, 2022

Today's date PM2.5 O₃ SHARE ABCDEFG SEOUL, Aug. 22 (Yonhap) -- South Korea's largest car-sharing platform operator, SOCAR Inc., got off to a muted start on its first day of trading Monday in the face of unfavorable market conditions. SOCAR traded at 28,200 won (US$21.09) won per share as of 9:47 a.m., 0.71 percent up from the 28,000 won opening price. Its initial public offering (IPO) price was set at 28,000 won earlier this month. SOCAR's debut came amid worries over its overvaluation and an economic slowdown. Its IPO price was set at the bottom end of a price range amid lackluster demand and an overvaluation controversy. A slew of unfavorable market conditions have portended a muted debut for the car-sharing operator, whose market share remains at around 80 percent. The Bank of Korea and central banks in major economies have been implementing aggressive monetary tightening. In July, the Bank of Korea raised its key interest rate by 0.5 percentage point to 2.25 percent, the steepest and sixth increase in borrowing costs since August last year. The U.S. Federal Reserve's July minutes also signaled more rate hikes in the future. jwc@yna.co.kr

Socar Investments

4 Investments

Socar has made 4 investments. Their latest investment was in RideFlux as part of their Series A on December 12, 2021.

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Socar Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/26/2021

Series A

RideFlux

$13.9M

No

2

1/5/2021

Corporate Minority - II

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10

3/6/2019

Seed

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10

7/11/2018

Corporate Minority

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$99M

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10

Date

12/26/2021

1/5/2021

3/6/2019

7/11/2018

Round

Series A

Corporate Minority - II

Seed

Corporate Minority

Company

RideFlux

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Amount

$13.9M

$99M

New?

No

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Co-Investors

Sources

2

10

10

10

Socar Portfolio Exits

1 Portfolio Exit

Socar has 1 portfolio exit. Their latest portfolio exit was VCNC on October 08, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/8/2021

Corporate Majority

$99M

2

Date

10/8/2021

Exit

Corporate Majority

Companies

Valuation

$99M

Acquirer

Sources

2

Socar Acquisitions

6 Acquisitions

Socar acquired 6 companies. Their latest acquisition was nine2one on December 16, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/16/2021

Seed / Angel

$99M

Acquired

3

12/13/2021

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$99M

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10

7/19/2019

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$99M

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10

4/17/2019

Series A

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$99M

$99M

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10

7/16/2018

Series C

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$99M

$99M

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10

Date

12/16/2021

12/13/2021

7/19/2019

4/17/2019

7/16/2018

Investment Stage

Seed / Angel

Series A

Series C

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

$99M

Note

Acquired

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Sources

3

10

10

10

10

Socar Partners & Customers

10 Partners and customers

Socar has 10 strategic partners and customers. Socar recently partnered with Technip Energies on July 7, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

7/6/2021

Partner

France

MapStand Energy Transition Mashup - July 2021

The Aldbrough Hydrogen Storage project is the latest being developed in a long-standing partnership between SSE Thermal and Equinor in the UK , which includes the joint venture to build the Dogger Bank Offshore Wind Farm , the largest offshore wind farm in the world .

1

2/17/2021

Partner

South Korea

How far has Korea come in self-driving services?

SOCAR in partnership with self-driving systems provider RideFlux is set to launch services on Jeju Island in the first half of the year .

1

12/20/2018

Partner

United Kingdom

SOCAR and BP explore the creation of a new petrochemicals joint venture in Turkey

BP and SOCAR have a longstanding relationship in the oil and gas industry in Azerbaijan .

1

12/6/2018

Partner

India

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10

7/23/2018

Vendor

United States

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10

Date

7/6/2021

2/17/2021

12/20/2018

12/6/2018

7/23/2018

Type

Partner

Partner

Partner

Partner

Vendor

Business Partner

Country

France

South Korea

United Kingdom

India

United States

News Snippet

MapStand Energy Transition Mashup - July 2021

The Aldbrough Hydrogen Storage project is the latest being developed in a long-standing partnership between SSE Thermal and Equinor in the UK , which includes the joint venture to build the Dogger Bank Offshore Wind Farm , the largest offshore wind farm in the world .

How far has Korea come in self-driving services?

SOCAR in partnership with self-driving systems provider RideFlux is set to launch services on Jeju Island in the first half of the year .

SOCAR and BP explore the creation of a new petrochemicals joint venture in Turkey

BP and SOCAR have a longstanding relationship in the oil and gas industry in Azerbaijan .

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Sources

1

1

1

10

10

Socar Team

4 Team Members

Socar has 4 team members, including current Chief Financial Officer, Changjae Lee.

Name

Work History

Title

Status

Changjae Lee

Chief Financial Officer

Current

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Name

Changjae Lee

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Work History

Title

Chief Financial Officer

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Status

Current

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