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Smartphone app maker Kakao completes new round of financing |
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2012-04-26 |
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Bae, Kim & Lee LLC has advised Kakao Corp., the Seoul-based developer of the popular smartphone messaging application KakaoTalk, in its KRW 92 billion (approx. US$80 million) Series B financing round, successfully concluded on April 25, 2012. Investors included China-based internet service portal Tencent and Korean games maker WeMade Entertainment. Kakao plans to use proceeds to strengthen its mobile platform business. The deal follows up on Kakao’s Series A financing, completed in August 2011, which involved several venture capital funds along with WeMade Entertainment and Japanese internet company CyberAgent. The BKL team advising Kakao was led by Sang Goo Lee and Sungjo Yun of our Corporate Practice Group, and included Heekyung Byun, Albert Suh and Seonho Kim. |
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Domestic funds buy KRW 235 billion (US$210 million) of SK Engineering & Construction convertible bonds |
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BKL secures favorable settlement in multi-jurisdictional online game license dispute |
