Ex-Janitor-Turned-Billionaire Transforms Hotel Market: Lee Su-jin Built App Yanolja After Working At A Motel

In a true "mop to riches" story, Lee Su-jin, the founder of Korea-based hotel booking app Yanolja, rose from humble beginnings as a motel janitor to become a billionaire. 

Lee's journey began in the early 2000s when he took on the role of a janitor at a small motel in Seoul, South Korea. Born into a modest family, Lee understood the value of hard work from a young age and dreamt of a better future. His janitorial work provided him an opportunity to understand and critique the motel business model. He saw the inefficiencies in booking processes and the lack of user-friendly platforms for travelers looking for affordable lodging. 

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Yanolja Founding

In 2005, with a small investment and a handful of motivated employees, Lee founded Yanolja, which is now a $1 billion private company. The name Yanolja translates to "Hey, let's play!" in Korean. This reflects the company's commitment to providing a fun and enjoyable travel experience for its customers. The platform started as a simple website, allowing travelers to book rooms in motels, guesthouses and small hotels at affordable prices.

As Yanolja gained traction in the Korean market, Lee and his team expanded the platform's offerings, introducing various services such as unique accommodations, attractive discounts and personalized travel packages. The company's dedication to customer service set it apart from competitors and gained it a loyal user base. 

With a solid foundation in the domestic market, Lee set his sights on international expansion. In 2013, Yanolja ventured into the global market, aiming to connect travelers from around the world with unique and affordable accommodations in South Korea. It also launched Yanolja Cloud in 2021 as an artificial intelligence (AI)-powered platform for other firms to use as a booking, property management and travel tool. 

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Investors

Investors took notice of Yanolja's potential, and the company secured substantial funding that accelerated its growth and expansion plans. SoftBank Group Corp.'s Vision Fund 2 invested $1.7 billion investment in the company, fueling speculation that Yanolja would pursue an initial public offering (IPO). But the company remains private and does not show signs of filing for an IPO. 

The lucrative nature of startup investing and the real estate sector has even helped propel recent trends in retail startup investing. For example, Zennihome has already raised over $1 million from retail investors for their factory-built homes startup in their ongoing Wefunder raise.

As Yanolja continues to flourish under Lee's guidance, the company remains committed to its core values of customer service and innovation. Lee inspires other founders with his journey. He worked hard at a lower-paying job but paid attention to the challenges and opportunities he saw in the motel industry. He took action with a technology solution to address those challenges and create a thriving business model. 

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