The Inspirational Rise of Yanolja Founder from Motel Janitor to Billionaire
Lee Su-jin, the founder and chairman of Yanolja, started his remarkable career in the travel industry as a janitor at a motel. His humble beginnings served as the inspiration behind launching the hotel booking site in 2007, which has now become a global phenomenon with over 57 million downloads of its travel app.
Lee's success story is reflected in his net worth of $1.2 billion, primarily derived from owning nearly a third of Yanolja along with his wife and two daughters. Despite his financial achievements, Yanolja was not born out of a passion for travel but out of necessity. Lee experienced a challenging childhood, being orphaned at a young age and relying on the support of family members.
When he was 23, Lee worked as a room cleaner at a "love hotel," exchanging his services for a steady income and a place to stay. These experiences motivated him to save money, invest in stocks, and even venture into a salad business, which unfortunately did not succeed. However, Lee's determination led him back to the hospitality industry at the right time.
Love hotels were facing negative perceptions and stigmatization as places associated with sex work. Concerned about the future of these establishments, Lee decided to rebrand them. He created a hotel review platform in 2005, eventually evolving into Yanolja. His goal was to modernize love hotels and convince young couples and travelers that they were safe, convenient, and affordable alternatives.
Lee's experience as a janitor provided valuable insights into the industry, allowing him to tailor the platform to meet consumer needs. In 2019, Yanolja achieved the coveted "unicorn" status with a valuation surpassing $1 billion. Subsequently, SoftBank Vision Fund 2 acquired a minority stake in Yanolja for $1.7 billion, highlighting its significant growth and potential.
Yanolja has expanded beyond travel booking, launching Yanolja Cloud, an artificial intelligence software catering to other hospitality and leisure platforms. With 19 million users benefiting from their software platforms, Yanolja has not only revolutionized the booking industry but also succeeded in changing the perception of love hotels.
Lee's journey from a motel janitor to a billionaire entrepreneur showcases the power of perseverance and innovation, leaving a lasting impact on the hospitality industry.
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