NAVER Z

What NAVER Z does

NAVER Z Corporation (네이버제트 주식회사) operates a multi-product metaverse and social platform ecosystem anchored by its flagship Zepeto avatar platform. Incorporated in May 2020 in Seongnam, South Korea, the company traces its origin to the March 2018 launch of the Zepeto mobile app and has since expanded to a portfolio spanning three consumer products — Zepeto (avatar-based metaverse), ZEP (virtual social space supporting up to 50,000 concurrent users), and Sticker.ly (custom sticker/emoji creation) — plus creator tooling (build it, Zepeto Studio, World Studio) and the ZEP virtual currency. The company's core technology stack centers on real-time 3D avatar creation, virtual world building, user-generated content monetization, and large-scale synchronous virtual spaces, with distribution primarily through mobile app stores (iOS/Android) and direct web platforms.

The business model combines three revenue streams: in-app purchases and virtual item sales, creator marketplace commissions on user-generated items and worlds, and the ZEP virtual currency (launched March 2022) facilitating in-platform transactions. Demand is generated product-led through viral avatar and UGC mechanics, supplemented by a community-led creator ecosystem supported by dedicated creator managers, and event-driven growth via global brand, IP, and celebrity partnerships. Primary customer segments are Gen Z / teenage consumers globally and virtual content creators monetizing within the platform, with a secondary B2B segment of brands and entertainment IPs (notably K-pop labels) seeking Gen Z engagement channels. Distribution is direct-to-consumer through app stores and web, with regional headquarters in Los Angeles (North America) and Tokyo (Japan) supporting international expansion.

Cumulative disclosed funding is approximately $208 million across four rounds (Oct 2020, Nov 2020, Nov–Dec 2021, Feb 2022), including a $189 million Series B led by SoftBank in late 2021 and strategic investments from K-pop entertainment companies HYBE, JYP, YG Entertainment, and Krafton. The 251–500 employee company is led by co-founders and co-CEOs Dae-wook Kim and Chang Wook Kim. NAVER Z has explicitly positioned itself for global expansion, with regional headquarters in Los Angeles and Tokyo and a stated product strategy targeting teenagers worldwide.

Name

NAVER Z

Legal name

네이버제트 주식회사 (NAVER Z Corp.)

Website

https://naverz-corp.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

251–500 employees

Short description

NAVER Z operates Zepeto, an avatar-based metaverse platform targeting Gen Z globally, alongside ZEP (large-scale virtual social space) and Sticker.ly (custom sticker creation), generating revenue through virtual item sales, creator marketplace commissions, virtual currency, and brand partnerships.

Ownership category

akta.pro rank

Product category

Metaverse Platform

NAICS

Software Publishers (5132)

akta.pro primary industry

Metaverse & Social Virtual Worlds (BPAMAKAF)

akta.pro secondary industry

Virtual Worlds & Social Sandbox Experiences (persistent social spaces) (MPAFAIAG)

Keywords

• Avatar metaverse platform
• Virtual social spaces
• 3D avatar creation
• Creator economy marketplace
• Custom sticker platform

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Virtual Item Sales and In-App Purchases: Users can create items and worlds within Zepeto to generate profits. The platform likely supports purchase of virtual goods, avatars, and customization items through in-app transactions. Creator economy model where content creators monetize their user-generated content.
2. Creator Marketplace Commission: Platform enables creators to create items and worlds for profit, suggesting a marketplace model where NAVER Z takes a commission on creator transactions. The ZEP service launched March 2022 supports virtual transactions within the ecosystem.
3. Virtual Currency (ZEP): ZEP token/service launched March 2022 serves as the virtual currency for the Zepeto ecosystem, enabling in-platform purchases and transactions.

Go-to-market motion4 records

Distribution channels3 records

Marketing channels4 records

Core offering

NAVER Z operates the Zepeto avatar-based metaverse platform, the ZEP large-scale virtual social space supporting up to 50,000 concurrent users, and the Sticker.ly custom sticker and emoji creation platform. The core business is consumer-facing: users create personalized 3D avatars, build and share virtual worlds, generate stickers, and transact with each other through the ZEP virtual currency and in-app purchases, while creators monetize user-generated items and worlds through a marketplace.

Product overview

NAVER Z operates a multi-product metaverse and social platform ecosystem. The core offerings include Zepeto, a metaverse universe where users create avatar-based experiences and monetize content; ZEP, a large-scale virtual social space supporting up to 50,000 concurrent users for virtual gatherings and content embedding; and Stickerly, a global sticker creation and sharing platform. Together, these products form a comprehensive digital creation and social interaction ecosystem spanning entertainment, social networking, and creative expression.

Differentiator

Problem solved

Functional benefit

Brands

• ZEPETO: Metaverse universe platform where users can interact through avatars, create content, items and worlds, and generate profits. Available at web.zepeto.me/en.
• ZEP
• Sticker.ly

Products and services

• Zepeto Avatar-based metaverse platform where users create personalized 3D avatars, interact with people worldwide, build their own items and virtual worlds, and can generate profits from user-generated content. Targeted at teenagers, Gen Z consumers, virtual creators, and brand/IP partners.
• ZEP Virtual social space where up to 50,000 people can meet simultaneously; users can freely create areas, interior, and objects, and embed various contents. Built for large-scale virtual gatherings, social events, and immersive brand experiences.
• Sticker.ly Sticker and emoji creation and sharing platform that lets users freely create, use, and share custom stickers and emojis with people around the world. Used by global consumers for visual self-expression and messaging.

Quantifiable outcome

• Zepeto gained significant popularity among teenagers worldwide
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators4 records

Recent moves3 records

Expansion highlights6 records

Direct peers

• Roblox: Roblox operates the largest avatar-based UGC social/gaming platform globally. It is the most direct comparable to Zepeto in terms of avatar-centric social interaction, user-generated content, creator monetization, and teen-skewing user base.
• Rec Room: Rec Room is an avatar-based social and gaming platform with user-generated rooms and creator monetization. It targets a similar teen/young-adult demographic and competes with Zepeto for avatar-based social entertainment time.
• VRChat: VRChat is a social avatar-based virtual world platform emphasizing user-generated worlds and avatars. It shares Zepeto's social-sandbox DNA, though it leans more VR-native while Zepeto is mobile-first.
• IMVU: IMVU is an avatar-based social platform with a deep virtual goods marketplace and creator economy. It directly parallels Zepeto's avatar customization and item-monetization mechanics.

Broad incumbents

• Meta (Horizon Worlds): Meta operates Horizon Worlds, an avatar-based social VR/metaverse product, bundled with its broader social graph (Instagram, Facebook) that already reaches NAVER Z's Gen Z target. It competes directly for avatar-based social experiences at much greater scale.
• Epic Games (Fortnite): Fortnite has evolved into a persistent avatar-based social platform hosting large-scale virtual concerts and brand events. Its large concurrent user capacity and brand partnership model mirror Zepeto's strategic ambitions around ZEP.
• Microsoft (Minecraft): Minecraft is a persistent avatar-based sandbox with strong appeal to the same younger demographics as Zepeto, plus a thriving creator/UGC ecosystem. It is a broader incumbent in the same competitive set rather than a direct head-to-head.

Emerging players

• Decentraland: Decentraland is a blockchain-based avatar virtual world platform with creator-built spaces and virtual commerce. It shares the metaverse virtual-world positioning with Zepeto, though its user base and crypto-native economic model differ materially.
• The Sandbox: The Sandbox is a blockchain-based avatar virtual world with a strong UGC/creator marketplace. It is comparable to Zepeto on creator monetization and avatar virtual worlds, but differs via its crypto-asset model.

Others

• Disney (Disney Metaverse Initiatives): Disney has invested in metaverse-adjacent consumer experiences and IP-driven virtual worlds (including partnerships and Disney+ integrations). It is comparable as a large IP owner partnering with platforms like Zepeto for branded experiences.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/naver-z

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds4 records

Investors7 records

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M&A

Investments16 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NAVER Z