Kakao Mobility Secured Strategic Investment of USD 50.1 Million from Google

Highlights:

  • South Korea’s Kakao Mobility secured a strategic investment from Google.
  • Both companies are planning for expansion in foreign and domestic markets.
  • Kakao Mobility has expanded its portfolio after the launch of Kakao T.
  • Carlyle Group in February agreed to invest about USD 200 million in Kakao Mobility.
  • Expert’s view.

Secured strategic investment

South Korea’s Kakao Mobility secured a strategic investment of about USD 50.1 million (56.5 billion Korean won) from Google. Both companies are planning expansion in foreign and domestic markets as well as will discover new business prospects.

On April 1, 2021, during regulatory filing, a South Korean firm disclosed that Google International LLC would acquire approximately 970,848 new stocks to control a 1.69% stake in Kakao Mobility.

What has Google and Kakao Mobility decided?

Google and Kakao Mobility will update cloud-based AI (artificial intelligence) technology by giving it a modern touch and will also collaborate in internet-of-things (IoT) and cloud services. Together, both companies are finding ways to collaborate on Google services and Kakao Mobility’s platform and cooperate on several operating system software.

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