🛍️ Key Insights You Can Gain from This Article:

  1. In 2023, as e-commerce growth began to slow down, a same-day delivery service managed to increase its volume by more than three times compared to the previous year. This service is 'Ping Pong', operated by Binary Bridge. Founder Lim Eun-sun, who previously established FooDFly, a first-generation restaurant delivery platform, and sold it to Yogiyo in 2017, has now ventured into the same-day delivery market, a shift from his past endeavors.
  2. 'Ping Pong' operates two main services: a quick service that picks up and delivers orders from various individual and corporate clients, and a same-day delivery service that delivers orders received by 3 PM at a reasonable price before midnight. The latter is the flagship service of 'Ping Pong', and the article elaborates on how this pricing is made possible and the specific operational structure.
  3. 'Ping Pong' distinguishes itself with its proprietary transportation management system, especially its 'dynamic routing algorithm'. How this system sets 'Ping Pong's same-day delivery service apart from others is detailed, including examples of system utilization.
  4. 'Ping Pong' targets fashion, leisure, and lifestyle goods, digital, and appliance sellers and brands, with companies like the mid-range fashion brand Giordano utilizing its service for their online stores. Even small brands with lower volumes can access its same-day delivery service, differentiating 'Ping Pong' from large e-commerce platforms' fulfillment services. The article reveals how 'Ping Pong' has appealed to small brand customers and increased its volume.

CHAPTER 1
A First-Generation Restaurant Delivery Platform Founder's New Challenge

Have you heard of BinaryBridge, a logistics startup now in its fifth year, running the same-day delivery service 'PingPong'? If that name doesn't ring a bell, you're probably familiar with 'Yogiyo', the second-largest delivery app in Korea. Those interested in the startup industry might remember 'FoodFly', a first-generation restaurant delivery platform sold to Yogiyo in 2017. Although it underwent several name changes, FoodFly eventually became the precursor to Yogiyo's own delivery service, now known as 'YogiDelivery'.

The founder and CEO of BinaryBridge, Lim Eun-sun, is the entrepreneur who led FoodFly. After selling Yogiyo, Lim also served for over a year as the Korean representative for the shared kitchen concept 'Cloud Kitchen'. Essentially, Lim has built a career around food delivery platforms and related markets.

Lim, along with the FoodFly management team, established BinaryBridge in March 2020, providing same-day delivery and courier services. In its first year, BinaryBridge was selected for the Ministry of SMEs and Startups' promising technology startup support program, TIPS. Last year, the company was awarded the POST-TIPS, given to TIPS graduates showing potential for business development and expansion within four years, along with a grant of 500 million won.

According to Lim, PingPong particularly achieved rapid growth in freight volume last year. From January to October 2023, the freight volume increased threefold compared to the same period the previous year, and since July, the volume has doubled each month.

Although the results are noteworthy, Lim's career shift intrigued me. Food delivery and same-day delivery share similarities in last-mile delivery, but they have long been distinct markets. While both primarily use motorcycles for transport, they differ in product handling, logistics operations, delivery distance, and rider identities.

So why did Lim Eun-sun, with extensive experience in the delivery platform market, decide to venture into same-day delivery? And how did PingPong, amid a slowdown in e-commerce growth last year, achieve a threefold increase in growth? CONNECTUS interviewed Lim Eun-sun, the CEO of BinaryBridge, for detailed insights.