Above: Daum Communications chief executive Sae-hoon Choi and Kakao co-CEO Sirgoo Lee at the press conference announcing the merger on May 26, 2014
Since Kakao launched KakaoTalk in 2010, we have worked hard to develop a mobile ecosystem and enrich users’ mobile lives by creating new ways to connect. As such, we are excited to begin a new journey with Daum Communications under the new company name Daum Kakao.
Daum Kakao will establish a strong foothold in the mobile industry by combining Kakao’s position as a mobile innovator and Daum’s web content capabilities and wide scope of services. Just as Kakao brought new opportunities and vitality to the mobile industry, Daum Kakao will continue to seek new and innovative ways to connect users and partners of varying industries within a growing and evolving mobile ecosystem.
The combined company is expected to be listed in October, pending shareholder approval, and have 3,200 employees: 2,600 from Daum and 600 from Kakao. Hopefully, the union will pave the way for aggressive expansion overseas as well as in Korea.
Stay tuned for the future of Daum Kakao. There is much exciting change ahead for 2014 and beyond. We’re excited to see what’s next.
You can read the full press release on the announcement here.