Analysts say it will not be long before the app tops 100 million users.Few people know much about the 40-year-old businessman behind Snow, which is wholly owned by Naver, a South Korean internet content and services provider that also launched Line, a Japanese messaging phenomenon that listed in New York and Tokyo in July.In August, Snow's management was separated from Naver to speed up decision-making.
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South Korean media reported that Facebook founder Mark Zuckerberg suggested the acquisition through Kim. In pursuit of that dream, Naver has teamed up with Japan's Soft Bank Group to launch a $43 million global investment fund that will put money into startups and technologies that have synergies with Snow.
The key to success, though, could be his understanding of the low boredom thresholds of teenagers.According to Naver, Kim studied business administration at Yonsei University in Seoul.Before joining Naver, he created a tour information website called Wingbus in 2005, which Naver bought in 2009."Asians' shyness limits their ability to take selfies freely.But since Snow was released more Asians are enjoying taking selfies, making video clips with friends and sharing them with others. PAY ATTENTION Sung Jong-hwa, an analyst at e Best Investment & Securities, said Snow's corporate value is about 2.6 trillion won (.16 billion).At the company's occasional news conferences, Kim's answers are terse. Yet he dreams of reshaping the way Asians communicate -- moving them from the word-centered tradition of emails, chat apps and texting to a livelier image-based model.