[단독] Naver promotes resale of’Remember’, a business card storage app purchased for 38 billion won

Input 2021.03.04 16:57 | Revision 2021.03.04 17:04

Naver(NAVER(035420)) Is known to be promoting the resale of Drama & Company, which developed the business card management application’Remember’.

According to officials from the Investment Bank (IB) on the 4th, Naver is currently seeking to sell its shares in Drama & Company.

Earlier, in December 2017, Naver acquired a 74.3% stake in Drama & Company along with Line Plus, a Korean subsidiary of Line in Japan. At that time, the amount of equity trading was 38 billion won.

An official from the investment banking industry said, “Naver is looking for a buyer to resell Drama & Company’s stake, but I know that it is experiencing difficulties in promoting it.” It is said that there are no companies showing a willingness to buy because Naver has offered too high a selling price.

Regarding the propulsion to sell the stake, a Naver official said, “I don’t know anything about the issue.”

Remember, developed by Drama & Company, is the number one business card management mobile application in Korea. When you take a business card, it automatically enters information, stores it, and manages it. It has more than 3 million subscribers, and the operating revenue in 2019 was 342 million won. Net loss for the year was 8,7 billion won.

Even after Drama & Company was incorporated into a Naver subsidiary, the founder, CEO Jae-ho Choi, is leading the business. In November of last year, the company also diversified its business by launching the’Remember Career’, a paid talent search service based on the Remember platform.