Crypto market prices may be down significantly, but new investors continue to enter the blockchain space. The latest is Recruit Holdings, the $45 billion Japanese internet giant that owns Glassdoor among other things, which quietly launched a $25 million fund. The fund is based out of Singapore and it closed in November 2018, but its […]
View More Japanese internet giant Recruit has a new $25M blockchain fundCategory: Kakao
Foxconn pulls back on its $10 billion dollar factory commitment
Well that didn’t last long. In 2017, Foxconn announced the largest investment of a foreign company in the United States when it selected Mount Pleasant, Wisconsin for a new manufacturing facility. Buttressed by huge economic development grants from Wisconsin, an endorsement from President Trump, and Foxconn CEO Terry Gou’s vision of a maker America, the […]
View More Foxconn pulls back on its $10 billion dollar factory commitmentSnap is being probed over its IPO because some investors are salty about losing money
Here’s something I didn’t expect to read today. The U.S. Justice Department and Securities and Exchange Commission has subpoenaed Snap for details on its IPO apparently in connection with a lawsuit from disgruntled shareholders who claim the company played down its rivalry with Instagram. Reuters first reported on the subpoenas which Snap has confirmed. Precise details […]
View More Snap is being probed over its IPO because some investors are salty about losing moneyKorean AI startup Skelter Labs lands strategic investment to expand to Southeast Asia
Korean AI startup Skelter Labs is expanding to Southeast Asia after it pulled in undisclosed funding from Singapore-based VC firm Golden Gate Ventures. Skelter Labs was founded in 2015 by founded by Ted Cho, the former engineering site director at Google Korea. It started out developing apps and services that made use of AI but then […]
View More Korean AI startup Skelter Labs lands strategic investment to expand to Southeast AsiaKorean lending startup PeopleFund raises $11M led by chat app Kakao’s payment unit
South Korean peer-to-peer lending startup PeopleFund is in the money itself after it raised an $11 million Series B funding round that was led by Kakao Pay, the fintech division of Kakao, Korea’s top messaging firm. The deal comes as the country’s P2P marketplace continues to grow with a competitive field of players. A newer arrival […]
View More Korean lending startup PeopleFund raises $11M led by chat app Kakao’s payment unitChat app Line’s games business raises $110M for growth opportunities
Messaging app firm Line has given up majority control of its Line Games business after it raised outside financing to expand its collection of titles and go after global opportunities. The Line Games business was formed earlier this year when Line merged its existing gaming division from NextFloor, the Korea-based game publisher that it acquired in […]
View More Chat app Line’s games business raises $110M for growth opportunitiesMobile social network Path, once a challenger to Facebook, is closing down
It’s that time again, folks, time to say goodbye to a social media service from days past. Following the shuttering of Klout earlier this year, now Path, the one-time rival to Facebook, is closing its doors, according to an announcement made today. (Yes, you may be surprised to learn that Path was still alive.) The […]
View More Mobile social network Path, once a challenger to Facebook, is closing downToss, Korea’s top payment app, raises $40M from Sequoia China and Singapore’s GIC
The largest payment app in South Korea, Toss, has pulled in $40 million in fresh investment from Singapore sovereign wealth fund GIC and Sequoia China. The deal for Viva Republica, Toss’s parent company, comes just over a year after it raised $48 million from payment giant PayPal and others. There’s no valuation for this newest round, […]
View More Toss, Korea’s top payment app, raises $40M from Sequoia China and Singapore’s GICKorean internet giant Kakao is launching a blockchain company
Kakao, the Korean internet firm that operates the country’s largest messaging app, is moving deeper into crypto after it revealed plans to launch a blockchain-focused business unit.
A Kakao representative confirmed the plans and that the company has hired Han Jaesun, CTO of gaming startup FuturePlay, to head up the business. The company isn’t commenting on exactly what the new… Read More
Skelter Labs raises $9M to help put Korea on the global AI map
China and the U.S. are the two countries most closely associated with artificial intelligence (AI) technology, but a startup in Korea is out to add its nation to mix after it raised more than $9 million from some big-name investors.
Skelter Labs, which was founded in 2015 by Google’s former chief technical officer in Korea, announced today that it has raised KRW 10 billion ($9.3… Read More
Korea’s Kakao eyes overseas acquisitions following $1 billion raise
Korea’s Kakao, the internet giant behind the country’s top messaging app, is actively seeking overseas investment opportunities after it raised $1 billion via a placement. Kakao is valued at over $7 billion and its services are used by more than 40 million people. The company, which counts Tencent as an early investor, now appears to be making good on its long-standing plan to… Read More