Kakao Mobility, which is planning to go public in the first half of next year, announced on the 18th that it has attracted an investment of $200 million from the Carlyle Group, a global investor. The amount of Korean money is about 219.9 billion won, and when this investment is completed, Kakao Mobility is expected to aggressively expand new businesses and invest in technology. It is a plan to expand the business area to objects and services that people need beyond providing various means of transportation.
Kakao Mobility brokers various means of transportation such as taxis, bicycles, shuttles, intercity buses, and trains through the’Kakao T’app. Parking service is also available. The app has 28 million users. Sales have tripled compared to 2019. This year, the company is expecting an operating profit surplus.
This investment attraction took place in three and a half years after the US TPG invested 500 billion won in 2017. The corporate value evaluated at the time was 1.6 trillion won, but with Carlisle’s investment, Kakao Mobility was assessed at a corporate value of 3.4 trillion won (post money basis). As Kakao Mobility secures large-scale funds, it is expected to revitalize the overall growth of the domestic mobility industry, the company said.
Gung-seon Ryu, CEO of Kakao Mobility, said, “Based on this investment, we have grown to a level that can compete with global players in terms of technology as well as scale, eliminating all the inconveniences of mobility and creating a more leisurely and valuable daily life. “As a representative player in the domestic mobility industry, we will actively cooperate with various companies including startups to build a virtuous cycle structure that allows the entire domestic mobility ecosystem to grow based on Kakao T.” ”
Kim Jong-yoon, Managing Director of Carlisle Asia Partners, said, “Kakao Mobility has grown into the nation’s largest MaaS platform based on its excellent data analysis and technical capabilities under the leadership of a management with extensive experience. “I am very pleased to have this partnership, and through Carlyle’s expertise in technology and IT and its global network, we will promote the growth of Kakao Mobility and contribute to creating long-term value for society by driving innovation.”
The Carlyle Group has been investing in the Korean market for more than 20 years. In 2018, it sold a stake in ADT Caps, the second largest security service company in Korea, to SK Telecom and Macquarie.