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Native name | 주식회사 카카오 |
|---|---|
| Company type | Public |
| KRX:035720 | |
| Industry | Internet |
| Founded | 2010; 16 years ago (2010) (original company; as Kakao Inc.) 1 October 2014; 11 years ago (2014-10-01) (current incarnation) |
| Founder | Brian Kim |
| Headquarters | Jeju City, South Korea |
Area served | Worldwide |
Key people | Stephan Kim [ko] (chairman, head of corporate alignment center)[a][1] Shina Chung (CEO) |
| Products | |
| Revenue |  KRW₩ 7.87 trillion (2024) |
 KRW₩ 460 billion (2024) | |
| KRW₩ -162 billion (2024) | |
| Total assets | KRW₩ 25.77 trillion (2024) |
| Total equity | KRW₩ 13.94 trillion (2024) |
| Owners |
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Number of employees | 10,644 (2020) |
| Subsidiaries | Kakao Entertainment Kakao Games Kakao Friends Kakao Mobility |
| Website | kakaocorp |
Kakao Corporation (Korean: 카카오) is a South Korean internetconglomerate headquartered inJeju City. It was formed through the merger ofDaum Communications and the original Kakao Inc. in 2010. The company was renamedDaum Kakao in 2014.[3] In 2015, it was rebranded once more, reverting simply to Kakao.[4]
TheKakaoTalk messaging app dominates inSouth Korea, and after launching in March 2010, the service gained around 90% of domestic market share in 2015.[5] In January 2016, Kakao acquired a 76.4% stake inLOEN Entertainment, a large South Korean entertainment company, for $1.5 billion;[6] it was later rebranded to Kakao M. The company has gained further prominence throughKakaoTalk, a free mobileinstant messagingapplication forsmartphones, with text and call features.
Kakao Corp's full suite of apps includes: KakaoTalk, KakaoStory, KakaoTaxi, KakaoAccount, KakaoMap, KakaoDriver, KakaoBus, KakaoMusic, KakaoGroup, KakaoHome, KakaoPlace, KakaoAlbum, KakaoPage, KakaoStyle, and KakaoAgit.[7]
Kakao Corp is the company behind KakaoTalk, which serves as its main platform and flagship application. It was founded in 2006 byKim Bum-soo, the former CEO ofNHN Corporation (the organization that emerged from the Hangame andNaver.com merger) as Kakao Inc.[8] Kakao Corp. (then known as Kakao Inc.) is based inSeoul, South Korea. Manson Yeo and Sean Joh serve as the current co-CEOs.[9][until when?]
In August 2013, three of the globally ranked top 10Android games (according to analytics provider App Annie) were tied into the KakaoTalk platform—Everybody’s Marble,Cookie Run, andAnipang.[10] With 93 percent of South Korea's users[of what?] on KakaoTalk, the free downloads of the gamesAni Pang andDragon Flight, which can only be played with a Kakao Talk account, were deemed "national" games. To maintain simplicity across all the provided services, Kakao applications can be purchased and logged in with links to KakaoTalk.[11][clarification needed] Kakao Corp generated revenue of approximately $200M (USD) in 2013 through gaming, digital content,mobile commerce, and its marketing channels for brands and celebrities.[12] Kakao Corp. was named a Top Developer on Google'sAndroid Market, and KakaoTalk was chosen as the number one FreeSMS App byCnet.[13][when?]
According to a December 2013 App Annie report, Kakao was the world's third top publisher by monthly revenue atGoogle Play. Kakao Corp. was the number one publisher foriOS and Google Play in South Korea, and KakaoTalk was the number one app for iOS and Google Play revenue in South Korea.[14] KakaoTalk was nominated for the Most Innovative Mobile App Award at the Global Mobile Awards 2014.[15]
On 26 May 2014, Kakao Corp. announced that it had decided to merge with Daum Communications, one of Korea's top Internet portals, through astock swap market capitalization.[16]
In 2015, the company changed its name to Kakao, restoring its pre-merger name. Due to gambling and censorship issues within the Kakao ecosystem, the organization's board of directors ejectedKim-beom-soo as CEO and decided to replace him withRim Ji-hoon.[17][18][19] Kim Beom-soo became the largest shareholder in the newpro forma company with a 22.2 percent stake.[20]
Kakao was approved by South Korean regulators to become the nation's first internet-only bank in 2017. The internet bank engages in the same business as commercial banks, including processing deposits, loans and wiring money. Consumers no longer need to visit a bank to open a new bank account or to get a loan. Kakao's business plan was considered innovative, and the company's business model was expected to secure sizable customer sign-ups relatively easily from KakaoTalk's users.[21]
AlthoughK Bank eventually became South Korea's first Internet-only bank, having launched several months prior, Kakao Bank immediately attracted more customers; 820,000 within four days of launch on 27 July 2017.[22] The dedicated Kakao Bank app itself was downloaded 1.5 million times within the same period.[22] The bank had 3.5 million customers after a month.[23] These figures trounced the 400,000 users that K-Bank amassed within 100 days of its existence.[23]
By 26 September 2017, Kakao Bank lent ₩1.4 trillion ($1.2 billion), constituting 40 percent of the total loans in all of South Korea for that particular month.[24] The bank's unprecedented expansion is seen as an exception to the closure of banks, particularly foreign-owned institutions. The fledgling performance of these banks is being blamed on the high cost of maintaining brick-and-mortar operations and the popularity of internet finance among Korean consumers.[24]
On 10 March 2015, Daum Kakao launched itsKakaoTaxi service, which allows users to call a taxi using the KakaoTaxi application.[25] About 600,000 ride requests were made on the ride-hailing platform every day within eight months of its launch.[26][27]
In 2017, KakaoTaxi was renamed toKakao T. The service includes the premium extension Kakao Taxi Black, which allows users to book rides in Seoul via the messenger app, exclusively carried in cars from luxury brands such asMercedes Benz,Lexus, andBMW. Fares for the premium service started at ₩8,000. Kakao announced plans to expand the offering to other Korean cities within the following year.[28] Kakao announced in April 2019 that they would be launching an e-bike sharing service with an initial fleet of 400 bikes across two major cities.[29]
In 2020, Kakao was expected to see improved performance due to rising demand for social IT infrastructure and internet-based services that could be used easily from home. This included acquiring a major stake as the largest shareholder inKakaoBank and launching advertising on KakaoTalk. As a result, the company recorded its highest-ever first-quarter revenue and operating profit since its founding. On 23 May 2020, its stock reached a 52-week high, and Kakao surpassedHyundai Motor to become the 10th largest company by market capitalization on theKOSPI.[30]
KakaoTalk, commonly referred to as KaTalk in South Korea, is an instant messenger and online services platform operated by Kakao Corporation.[31]
Kakao Entertainment Corp is a South Korean entertainment, mass media, and publishing company founded in 2021.[32]
KakaoStyle is a mobile application that curates and aggregates fashion content, links, stores, and information from various websites. KakaoTalk users are able to discover various fashion trends using the app, and see their friend's interests. The app gives suggestions, and links to purchase clothing and various items.[33]
Kakao Pay is a mobile payment and digital wallet service by Kakao based in South Korea that allows users to make mobile payments and online transactions. The service supports contactless payments using near-field communications and QR codes.[34]
KakaoBank Corp. is a South Korean financial institution specializing in mobile banking services and financial technology. It was founded in 2016 through a collaboration between Korea Investment Holdings and Kakao Corp.[35]
Kakao T is a Korean transportation service app launched in 2017 by Kakao Mobility Corp., a subsidiary of Kakao. The service provides taxi-hailing, designated driver booking, nearby parking space searching, and real-time traffic information service.[36]
Kakao Games Corp. is a South Korean video game publisher and a subsidiary of Kakao. It specializes in developing and publishing games on PC, mobile, and VR platforms.[37]
32. Naver vs. Kakao: Way of working with startups.https://pickool.net/naver-vs-kakao-way-of-working-with-startups/Archived 3 September 2020 at theWayback Machine
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