The global economic downturn has pulled down the market cap of Kakao Group to 22 trillion won. Criticism began to emerge as Kakao shareholders lost money as a result of the excessive listing of its business units.
When Kakao Games and Kakao Pay and Kakao Bank were listed in 20, respectively, the market cap of the Kakao Group exceeded 120 trillion won. Kakao has adhered to the policy of listing affiliates after spinning off in-house startups. It sought to dominate the markets for these services and maximize profits based on its strong monopoly position. Kakao has come under fire for spinning off many of its service units into affiliates for stock market listing. They include major subsidiaries such as Kakao Pay (simple payment), Kakao Mobility (taxi hailing), Kakao Bank (banking), and Kakao Entertainment (entertainment/webtoons). Kakao had a total of 134 affiliates as of June.
Kakaotalk messenger driver#
As KakaoTalk grew into the most popular messenger app among Koreans, it acquired Daum, an internet portal service, and quickly expanded into various areas, from the rentable sober driver service to beauty parlor reservations. Kakao started as a smartphone messenger service provider in 2010. “This is why this fiasco caused more trouble.” “As the monopoly of Kakao and Naver has deepened, competitive services have disappeared,” an IT industry official said.
Kakaotalk messenger download#
These services rose high on the Google and Apple App Store download rankings all at once. Instant messaging services should be designed to securely protect their users personal contents such as chat messages, photos and video clips against a. On the day, downloads of competitor apps such as Line and Telegram (messenger services), UT/Tada (taxi hailing), and Naver Maps soared. 15, people hurriedly started looking for alternative services. When KakaoTalk services stopped working on Oct. “They rely heavily on Naver and Kakao for their major services.” “Not only small startups but also large IT companies cannot develop all services such as maps and payment on their own,” an IT industry official said. This service is used in reporting complaints such as illegal parking and living inconveniences based on users’ location. The Safety Reporting App run by the Ministry of the Interior and Safety did not work at all. Many users could not trade virtual currencies from the afternoon on Oct. Upbit, the largest cryptocurrency exchange in Korea, uses only two methods to log in - KakaoTalk and Apple accounts.
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