Carlyle invests $200m in South Korea’s Kakao Mobility at $3.1b valuation

Photo: Reuters

Carlyle Group Inc agreed to invest $200 million in South Korea’s Kakao Mobility, valuing the firm at 3.42 trillion won ($3.09 billion), Kakao Mobility said on Thursday.

Kakao Mobility is the transportation unit of Kakao Corp, operator of the country’s most popular chat app, spun-off in 2017.

Its app, Kakao T, has 28 million registered users, and offers South Korea’s most popular taxi-hailing service as well as other transportation services such as bus ticket reservations, shuttles and bicycles.

Carlyle’s investment was the first Kakao Mobility received since 2017, when private equity firm TPG Capital invested 500 billion won in investment, valuing the firm at around 1.6 trillion won, a Kakao Mobility spokeswoman said.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.