South Korea’s Kakao Mobility secures $50.1M strategic investment from Google Inc

In a statement on Thursday, Kakao Corp, the parent of South Korea’s Kakao Mobility said, it has secured a strategic investment of $50.1 million (56.5 billion won) from Google.

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

Earlier this year, Carlyle Group Inc had agreed to invest $200 million in the startup valuing Kakao Mobility at 3.42 trillion won.

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