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Kakao Mobility gets Google to invest $44 million
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Seoul, April 2 (IANS) Tech giant Google will invest more than 50 billion won ($44.15 million) in Kakao Mobility Corp., the top taxi-hailing company in South Korea.
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Update: 02-April-2021
Google to invest over $44 mn in taxi-hailing firm Kakao Mobility
By IANS |
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Google.. Image Source: IANS News
Seoul, April 2 : Tech giant Google will invest more than 50 billion won ($44.15 million) in Kakao Mobility Corp., the top taxi-hailing company in South Korea.
Google will invest in Kakao Mobility by acquiring new shares worth 56.51 billion won, according to a regulatory filing from Kakao.
The deal, which places Kakao Mobility s total value at 3.35 trillion won, will give Google a 1.69 percent stake in the firm, which operates taxi-hailing service Kakao T and has 28 million users.
Through the investment, the two companies agreed to cooperate in the development of cloud-based artificial intelligence technology and create synergy between Google services and Kakao Mobility s platform.
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