Chatwork - The Most Popular Business Chat Tool In Japan Listed On The Tokyo Stock Exchange
We are happy to announce that Chatwork officially listed on Tokyo Stock Exchange Market on 24th, September 2019. This IPO is the first company in Japan among business chat tool providers. After this IPO, Chatwork – the most popular Business Chat Tool in Japan has a variety of plans for the Asia market.
Chatwork's IPO ceremony at the Tokyo Stock Exchange on 24th September. Photo: Chatwork
Providing many Japanese entrepreneurs with a highly secure and productive administrative method of communication, Chatwork has become popular in Japan with more than 70% market shares and officially listed on the Tokyo Stock Exchange on 24th September 2019 with an approximate value of 51 billion yen (472 million USD). Yutaka Horie, Head of Chatwork Global Strategy Office, said that Vietnam, and Southeast Asia markets are the next strategic regions to expand.
Since its launch in 2011, Chatwork is the No.1 business chat tool that has the most MAU (Monthly Active Users) in Japan(*) with its mission “Making work more fun and creative.” Entrepreneurs can build up internal communications to manage the executive jobs as well as interacting with partners and external customers. Chatwork helps them to increase labor productivity and save costs.
One of the outstanding advantages of Chatwork is a security feature, among other features such as communications in cross-border groups, sending messages at any time, and sharing files in any formats. These capabilities meet three modern working trends, including remote work, information exchange, and mobile storage, which requires an increasing demand for data security.
Up to now, Chatwork not only has provided a specialized tool for information exchange and work management based on cloud computing but also has enhanced businesses to apply an instant and convenient way of communication to support entrepreneurs to manage internal communications systematically and exchange collaborative work more effectively. For example, Chatwork Live function helps users to conduct live video conferences among company members.
Chatwork users can make video calls with up to 14 members and make voice calls with up to 100 members. Mr. Fujii Sou, Director of First & Tandem Splint Law Firm in Japan, who used Chatwork for legal consultancy, said this application had enabled him to interact with his clients anytime, anywhere conveniently. Chatwork helps him to satisfy his passion for traveling worldwide. For instant, in 2017, though he kept working with his 70 clients, he spent 111 days outside Japan with earning over 92 million Japanese yen in the year.
Masaki Yamamoto, CEO and CTO of Chatwork prepares to bang the gong during the company's listing ceremony at the Tokyo Stock Exchange on 24th September. Photo: Chatwork
Masaki Yamamoto, CEO of Chatwork, said that since he launched Chatwork 8 years ago, Chatwork has been serving 2.85 million users(**), more than 235,000 companies(***) worldwide. Revenue comes from its subscription model (starting from 4 USD per month/account). The sales growth rate is more than 155% in 2018 against the previous year. In the first half of 2019, revenue reaches 853 million yen (about 8 million USD).
Before the IPO, the company raised $ 2.5 million in Series A round from GMO Venture in 2015, raising an additional $ 12.5 million in Series B from JAFCO Japan, SMBC Venture, and other investors.
Masaki Yamamoto CEO and CTO (left) and Naoki Inoue CFO (right) at the press conference.
As one of the most dynamic economies in the region, Vietnam nowadays is considered by Chatwork's management as a key market in Southeast Asia. Vietnamese enterprises are facing the challenge of reforming and optimizing their productivity. Understanding that primary task, Chatwork decided to accompany and persevere with domestic enterprises. "We believe that Chatwork can support Vietnamese businesses with the specific tools and solutions to achieve higher productivity thanks to advanced Japanese management models.", said Mr. Yutaka Horie.
The company will focus mainly on three customer segments, including a group of specialized services such as accounting, auditing and judicially, group of production, processing and supply chain, as well as a group of retail businesses.
In the meanwhile, Chatwork has also implemented the Business Chatting Program (BCP) as a bridge among businesses using Chatwork in different countries. With its coordinating role, BCP has been helping more than 380 enterprises seek business partners - suppliers in the process of expanding markets between Vietnam, Japan, Taiwan, and in the future, the countries in Southeast Asia.
(*) Source: Nielsen NetView and Nielsen Mobile NetView, Monthly Active User Survey, May 2019. The business chat tool for comparison is selected by Chatwork.
(**) Data as of the end of August 2019
(***) Data as of the end of September 2019