About Company
Kakao Corporation, a South Korean tech giant, has emerged as a multifaceted company, pioneering innovations in various sectors. Founded in 2010, it initially gained prominence with its instant messaging app, KakaoTalk, which quickly became a cultural phenomenon. Over the years, it has diversified its portfolio. It ventured into mobile gaming, e-commerce, content services, and financial technology.
The company’s innovative approach extends to KakaoTalk’s integration of diverse features, from mobile payments to ride-hailing. The company’s gaming division, Kakao Games, has successfully launched globally acclaimed titles. Thus, it bolstered its presence in the gaming industry. KakaoPay, the financial arm, has also become a leading player in South Korea’s digital payment landscape.
The company’s commitment to creativity is evident in its expansion into original content production. The establishment of Kakao M, which contributes to the vibrant Korean entertainment scene, is a testament to this. The company has a user-centric philosophy and continuous evolution. It remains a dynamic force shaping the digital experience in South Korea and beyond.
Kakao: Some quick facts
What is the Romanized name for Kakao?
The Romanized names for the company are as follows:
- MR (McCune–Reischauer Romanization): Chushikhoesa K’ak’ao
- RR (Revised Romanization of Korean): Jusikhoesa Kakao
What type of company is it?
It is a publicly traded company.
To which industry does the company belong?
The company belongs to the Internet industry.
When did the firm come into existence?
The company first put its footprint in 2010; this was 13 years ago. The original organization was called Kakao Inc.
The current company commenced operations on October 1, 2014, nine years ago.
Who is the originator of the company?
The company is the brainchild of Brian Kim, a South Korea-based business tycoon.
Where is the headquarters of the company?
The company has its central office in Jeju City, South Korea.
Which area does the company serve?
The company has a global client base.
Who are the key people running this organization?
The key people running this organization are the following:
- Brian Kim – Founder
- Eun-taek Hong (Chief Executive Officer)
- Stephan Kim [ko] – Chairman, Head of Corporate Alignment Center
What are the products offered by the tech giant?
The company offers the following products to its customers:
- KakaoTalk
- Daum
Who are the proprietors of the company?
The proprietors of the company are the following:
- National Pension Service – 6.41%
- Brian Kim – 23.80%
- Maximo Pte (Tencent) – 5.93%
Brief financial highlights
How many employees work for the company?
As of 2020, the company has around 10,644 employees.
What are the subsidiaries of Kakao?
Given below are the subsidiaries of the company:
- Kakao Entertainment
- Kakao Friends
- Kakao Games
- Lycos, Inc.
- Kakao Mobility
What is the official website of the company?
The company’s official website is kakaocorp.com.
Kakao History with a Timeline
Kakao Corporation, a South Korean technology conglomerate, has a rich innovation and strategic expansion history. Here’s a comprehensive timeline of its journey:
2010 – The Birth of Kakao:
Kim Beom-su established Kakao Corporation on March 3, 2010.
In March, the company launched its flagship product, KakaoTalk, an instant messaging app.
2012 – Rapid User Growth:
KakaoTalk’s user base skyrocketed, reaching 57 million registered users by August 2012.
The app’s success resulted from its user-friendly interface and innovative features.
2013 – Venture into Gaming:
The company entered the gaming industry by establishing Kakao Games in April.
The acquisition of companies like SundayToz and Daum Games strengthened its gaming portfolio.
2014 – Going Public:
The corporation went public on the KOSDAQ stock exchange on July 10, 2014.
The IPO marked a significant milestone, reflecting its financial strength and market influence.
2015 – Kakao Taxi and Diversification:
It expanded its services with Kakao Taxi, a ride-hailing platform introduced in March.
The company diversified into various sectors, including KakaoPay for mobile payments and Kakao Mobility.
2016 – Merger with Daum:
The company merged with Daum Communications on October 1, 2014, forming Daum Kakao.
The merger aimed to create a tech powerhouse. It combined Daum’s web portal strength with Kakao’s mobile expertise.
2017 – Rebranding as Kakao Corporation:
Daum Kakao rebranded as Kakao Corporation on October 25, 2015, reflecting a unified identity.
The move reinforced its commitment to integrated digital services beyond messaging.
2018 – Global Expansion and AI Integration:
The company initiated global expansion with investments in international markets and partnerships.
Artificial intelligence (AI) technology integration took place, including its AI platform, Klaytn. This showcased the company’s forward-thinking approach.
2019 – KakaoBank and Kakao Entertainment:
KakaoBank, a digital bank, emerged in 2017, transforming the financial landscape.
Kakao Entertainment emerged, focusing on content creation and distribution and establishing Kakao M for music and entertainment.
2020 – Klaytn Blockchain Platform:
The company expanded its blockchain endeavors with the launch of the Klaytn blockchain platform.
Klaytn aimed to provide a user-friendly environment for blockchain development and decentralized applications.
2021 – Continued Growth and Innovations:
It continued to witness growth in user numbers across its diverse platforms.
The company explored emerging technologies, including metaverse concepts. It showcased its adaptability to industry trends.
2022 – Evolving Ecosystem:
Its ecosystem continued to evolve, integrating services like KakaoWork for enterprise communication.
The company remained a leading force in South Korea’s tech landscape.
Kakao Corporation’s journey is remarkable for its evolution from a messaging app to a diversified tech giant. With strategic expansions, mergers, and innovations, it has remained at the forefront of the digital revolution. It shapes how people connect, communicate, and engage with technology in South Korea and beyond.
Outage
Kakao faced disruptions in 2022, causing inconvenience. Users reported issues, sparking concern and frustration.
Kakao Japan
Kakao Japan Corporation serves as its subsidiary in Japan. In 2022, Kakao Japan continued its digital prominence, offering diverse services to captivating Japanese users. Kakao is renowned for multifaceted messaging and lifestyle solutions. It maintained an impressive presence in the Japanese market. With various innovative features, the app facilitated seamless communication and fostered vibrant social connections. Its unique blend of messaging, social networking, and entertainment contributed to its popularity among Japanese users. All these turned it into a digital cornerstone. The platform’s user-friendly interface and culturally tailored offerings further solidified its appeal. It created a digital haven for individuals seeking both utility and entertainment. As Kakao Japan navigated the ever-evolving tech landscape, it remained a dynamic force. It enriched the digital experiences of users across Japan. It also solidified its position as a preferred digital communication and lifestyle service choice.
Services
1. Revolutionizing Communication
KakaoTalk, the company’s flagship service, offers instant messaging, voice calls, and multimedia sharing.
Innovative features like emoticons, voice filters, and group chats contribute to its widespread popularity.
2. KakaoPay: Seamless Mobile Payments
KakaoPay, a mobile payment platform, enables users to make transactions and manage finances effortlessly.
Integration with KakaoTalk enhances convenience. It makes the platform dominant in South Korea’s digital payments scene.
3. Kakao Games: Gaming Excellence
Established in 2013, Kakao Games has published globally acclaimed titles, diversifying the company’s portfolio.
Acquisitions of gaming companies bolstered its presence in the competitive gaming industry.
4. Kakao Taxi and Mobility Services
The company’s foray into transportation with Kakao Taxi provides a convenient ride-hailing platform for users.
Expanding into mobility services, Kakao Mobility offers diverse transportation solutions. The goal is to enhance urban mobility.
5. KakaoBank: Digital Banking Revolution
KakaoBank, launched in 2017, disrupted traditional banking. It provides users with efficient digital banking services.
Its success reflects the company’s commitment to financial technology and customer-centric innovation.
6. Kakao Entertainment and Kakao M
This Comp focuses on content creation and distribution and has led to the establishment of Kakao M.
Kakao M contributes significantly to the vibrant Korean entertainment scene. It produces music, TV shows, and more.
7. Klaytn: Blockchain Innovation
Klaytn is the company’s blockchain platform. It offers a user-friendly environment for decentralized applications and blockchain development.
With a focus on accessibility, Klaytn signifies Kakao’s venture into the evolving world of blockchain technology.
8. KakaoWork: Enterprise Communication
KakaoWork serves as an enterprise communication platform. It streamlines workplace communication and collaboration.
Features like messaging, file sharing, and scheduling enhance productivity for businesses utilizing this platform.
The company has a diverse range of services, spanning communication, finance, gaming, entertainment, and emerging technologies. It reflects its commitment to meeting the evolving needs of users in the digital age. Each service contributes to Kakao’s ecosystem. They create a seamless and interconnected experience for millions of users worldwide.
Stock trading
The buying and selling of the company’s common stocks takes place on the Korea Exchange (KRX) under the ticker symbol KRX: 035720.
Kakao Corporation Stock Performance
On November 17, 2023, Kakao (035720. KS) ended trading at KRW₩ 47,500.00 with the data furnished below at 03:30 pm KST (Korea Standard Time).
Stock chart
Kakao Management
The corporation, a South Korean tech giant, has exemplified innovative management strategies in the competitive tech industry. Its focus on user-centric solutions has diversified its portfolio beyond messaging. It offers services like finance, content, and mobility. The company’s leadership fosters a culture of creativity. It encourages employees to think outside the box. Its strategic partnerships, such as integrating AI and blockchain technologies, showcase its commitment to staying at the forefront of innovation. The management team’s transparent communication and adaptability have played a pivotal role in navigating challenges. The company’s success lies in balancing expansion and user satisfaction. It positioned itself as a trailblazer in the ever-evolving landscape of digital services.
Controversies
1. Privacy Concerns and KakaoTalk (2014):
In 2014, KakaoTalk faced criticism over alleged privacy issues, raising concerns about user data security.
The controversy led to heightened scrutiny and calls for improved privacy measures within the platform.
2. Monopoly Investigations (2015):
In 2015, the corporation became the subject of antitrust investigations by South Korean authorities.
Concerns about its potential monopoly in the mobile messaging and gaming sectors were raised.
3. Cryptocurrency Ventures (2017):
The tech giant faced controversy in 2017 with its cryptocurrency-related projects, including the launch of KakaoCoin.
Regulatory uncertainties and skepticism surrounding cryptocurrency ventures contributed to public concern.
4. Kakao Mobility and Taxi Driver Protests (2018):
The company’s entry into the ride-hailing industry with Kakao Mobility sparked protests from traditional taxi drivers.
Taxi unions argued that its services undermined their livelihoods, leading to public tensions.
5. KakaoBank IPO Delay (2020):
KakaoBank, despite its success, faced delays in its initial public offering (IPO) in 2020.
Regulatory hurdles and concerns about the bank’s valuation contributed to the postponement.
6. Content Regulation Policies (2021):
The company’s content regulation policies faced backlash in 2021 for restricting certain user-generated content.
Critics argued that the measures impacted freedom of expression, sparking debates on censorship.
7. Handling of User Data (2022):
The company was scrutinized in 2022 for handling user data and potential breaches.
The incident raised questions about the company’s data protection practices and security measures.
The corporation has achieved immense success. However, these controversies highlight the challenges and criticisms the company has faced throughout its evolution. Addressing these issues has been crucial for Kakao to maintain its reputation. It would ease the navigation of the complex landscape of the tech industry.
