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Kakao Mobility secures strategic investment from Google - Metro US

Kakao Mobility secures strategic investment from Google

FILE PHOTO: Logo of Google on a building at La Defense

SEOUL (Reuters) – South Korea’s Kakao Mobility has secured a strategic investment from Google of 56.5 billion won ($50.1 million), the transportation firm and parent Kakao Corp said on Thursday.

Kakao Mobility’s app, Kakao T, has 28 million registered users, and offers South Korea’s most popular taxi-hailing service as well as other transportation services.

Carlyle Group Inc agreed to invest $200 million earlier this year, valuing Kakao Mobility at 3.42 trillion won.

(Reporting by Joyce Lee; Editing by Tom Hogue)

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