Lately I’ve been using Baemin way too much (honestly, who isn’t 😅), so I got curious and looked into how the company is actually doing.

Turns out, they’re making a LOT of money now — like over 5 trillion KRW in revenue last year. That’s a huge jump compared to before.

But here’s the interesting part:
even though they’re earning more, their profit actually dropped a bit.

And it kind of makes sense when you think about it.

These days, I’ve noticed there are more events where delivery fees are discounted or even covered. As a user, it feels great (obviously lol), but apparently Baemin is the one paying more of those costs now — especially to riders. So the more we order, the more they spend.

Another thing I didn’t realize is how much Baemin has changed.

It’s not just about food anymore.
Now you can order groceries, daily stuff, even supermarket items — and that part of their business is growing really fast. Like, way faster than I expected.

Also that “no minimum order” option?
I’ve definitely used it when I just wanted one thing (no shame). Turns out a lot of people are doing the same — the number of orders for that feature is kind of crazy.

At this point, Baemin feels less like a delivery app and more like something you just rely on for everyday life.

But yeah, reading all this made me think —
we’re getting more convenience, but the company is also spending a lot to keep it that way.

So now I’m wondering…
is this kind of growth actually sustainable long term, or is it just part of the competition right now?