Mobile & Internet TPG to invest $437m in Kakao‘s taxi-hailing unit

Publication: The Investor,

A TPG-led group will invest 500 billion won ($437 million) in a new taxi-hailing service unit of Korea’s largest chat app service provider Kakao, the two companies said on July 30. The newly spun-off unit, to be called Kakao Mobility, aims to roll out new services in the second half of the year, including corporate taxis, parking and automatic payments.

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