Chapter 63
Chapter 63:
After the introductions, Jang Gwangchul, Hong Soobum, Yoon Gihwan, and Woosung started a meeting of their own. Hong Soobum, who was the head of the Coconut app development, began.
“We are at the last stage of the iPhone app development. We are using the President’s MQTT as the server and testing it out.”
Woosung nodded. There was nothing he could add to the actual development portion. He trusted Hong Soobum to do a good job. Woosung’s main interest was something else.
“Where will it be released first?”
“I was thinking Korea.”
“That’s a good idea, but iPhone and Android aren’t released in Korea yet. We can’t just keep waiting, so why not release in America first?”
“America?”
“Yes. We can hire famous Hollywood actors and take photos of them using Coconut. We can upload these pictures on Facebook. This would be the fastest and surest way to get noticed. Coconut will become the most popular app quickly.”
Woosung wanted to implement the SNS marketing strategy from 2018.
“It will cost a lot to hire famous actors. Even if we do, would the Americans use a Korean app?” Hong Soobum replied cynically.
Even in Woosung’s previous life, Coconut never went beyond Korea. However, the app named Slime by Nexter, released after Coconut, managed to become successful in Japan and America. Woosung continued with a stern expression.
“Messenger is a relatively new concept. Ours is pretty much the first one ever in the market. We need to use this to our advantage. We can release it in the US and see what happens. We can adjust and improve it as we go, and eventually, we will make it into a global app.”
Woosung thought of the famous messengers from his previous life.
Telegram.
WhatsApp.
Snapchat.
Woosung knew the pros and cons of these apps. One common thing he knew of them was that none of them became popular worldwide. Woosung thought that this was because none of them knew the truth about smartphones.
Both Android and iPhone were released at the end of 2009 in Korea. Practically speaking, it may be safer to release the app in Korea, but Woosung wanted to be bold.
“As time passes, there will be more messenger apps with better and faster functions in the world. The competition will become fierce. Anything that becomes popular in America will automatically become popular in Korea. It will be too late for us when this happens with another messenger.”
Woosung emphasized the importance of the world market. Hong Soobum asked. “Could you explain your plan in more details?”
“Coconut will be a chat service with a strong security system. Even if the server or the cell phone become hacked, we will make sure the app itself can never be hacked.” Woosung continued without waiting for the others’ response. “Coconut China will serve only China. China has restricted acceptance of foreign IT companies. We will have to create a separate customize app just for Chinese people, but it will be worth it. China is a huge market.”
Woosung had a sip of water, none of the people around him dared talk in his small pause.
“And I really believe in using the Hollywood stars to jumpstart this app.”
Hong Soobum asked curiously. “So are you suggesting we give up on Korean users?”
“Facebook is an innovative website created by Ivy league students. People will want to be part of it.”
Hong Soobum frowned as he understood what Woosung meant. “You are counting on many young Koreans dreaming of attending Ivy league college, and also being fans of the American celebrities.”
Woosung nodded and answered.
“It is almost impossible to get a popular Korean app into the world market.” Woosung pointed at his iPhone on the table. “As I said before, trying to place a desktop into a phone is not a good idea. The phone will BECOME the desktop. We need to think like that for our app too. We need to become successful in the world first. When this happens, it will become popular in Korea.”
Jang Gwangchul protested quietly with a pout. “President, we all know that. It’s just that it is going to be very difficult.”
“Why?”
“Well first, we don’t know the American market very well. We don’t know how they think or what they like. Jumping into the unknown would be a suicide.”
Woosung answered quickly. “We can learn. I will take all of you to Silicone Valley and you can learn the American way. Any other problems?”
Jang Gwangchul hesitated. “How about hiring the Hollywood stars? It’s going to cost a lot. We also don’t know if they will even accept our offer.”
“We can contact their management companies. I will pay for everything. I can pay up to 100 million dollars. You don’t think it’s going to cost more than that, right? Now, anything else?”
Jang Gwangchul started to sweat.
“N…no, that’s not what I meant…”
“Google got into the Korean market, but Nexter hasn’t been able to go out into the world. This will always be the pattern. Same with Facebook vs. Cyworld. This will always be the case.” Woosung took a deep breath. He was thirsty. He had another sip of water. “Do you want the same thing to happen to Coconut too? Mediocre success in Korea and never get to step into the world market?”
When Woosung became silent, the room tensed up. After a few minutes, Woosung added.
“This is my first order as the president. Always think big. Any products we create, they are meant to be successful worldwide. If you don’t agree, then you can leave now.”
Everyone tensed. They all glanced at Woosung with nervous glances.
He was the CEO.
His order was the law in this company.
After a few minutes of silence, Yoon Gihwan finally laughed awkwardly. “Hahaha. I…it’s a grand idea, President. Take over the world. It should be our motto.”
Jang Gwangchul added quickly as well.
“Y…yes. I agree. Hahaha”
Hong Soobum had no other choice. He coughed and answered.
“Hmm…alright. I will do as you like. I feel the same way; I want Coconut to become international too.”
Woosung looked at Hong Soobum. “I believe in this plan. Don’t forget that the average lifespan of an internet company is only 10 years.”
Jang Gwangchul said to Woosung. “Little bro…Don’t talk like that. You are scaring all of us.”
“What I mean is that I am betting my life on this company. I will make sure that our company does not become just an average corporation for average joes.”
Jang Gwanchul laughed awkwardly. “Hahaha. I think so too.”
“Please think of any other advertising ideas. Now, let’s go onto the algorithm trading.” Yoon Gihwan tensed. “Do you know what these are? Citadel, Paulson & Co, SAV, and Quantum?”
Yoon Gihwan answered with a profound carefulness in his tone. “Of course I know. They are all hedge funds.”
“That’s right. They are world famous hedge funds. Do you know how much a Citadel operator makes in a year?”
Yoon Gihwan didn’t have the answer. Woosung looked around the room. Everyone remained silent.
“1.7 billion dollars. So can you guess what kind of profit Citadel would make in a year?”
Again, no one could answer.
“No one really knows but my guess would be an unimaginable amount. This is what I want for our algorithm trading.”
“Oh, but…”
“I realize that you can’t do it by yourself, General manager Yoon. I will help you of course and I will soon be hiring world famous mathematicians and physicists.”
“A…alright.”
“Now the third topic of this meeting is the smartphone project.”
Woosung started to explain his plan.