![]() ![]() Additionally, Kakao would share user and sales-related data with participating online companies on Talk Channel 2.0. Kakao would also equip its new services with simple features, including seamless login and payment. However, Kakao took a different approach with Talk Channel 2.0 by charging zero commissions. Kakao’s fellow market competitors charge a commission rate to sellers that use their online shopping platforms. Moreover, Talk Channel 2.0, Kakao’s new e-commerce platform, would enable smaller companies to manage digital marketplaces using the KakaoTalk app. Due to its rising business concerns, Kundal took Kakao’s invitation to help foster its new online shopping services. Kundal recently expressed concern over its heightening dependency on other e-commerce companies, including Coupang and Naver, regarding its increasing revenue. Last year, only four years after its establishment, Kundal recorded a 120 billion won ($108 million) revenue. In May, a Kakao business unit, KakaoTalk Channel, collaborated with Kundal, a K-beauty startup that became an industry sensation. ![]() Retail industry sources also said that Kakao conducted trial operations with various companies, including Kundal, Korean Air Lines, and Nike. Kakao reached out to these companies, encouraging them to expand their digital shopping operations to Kakao’s new platform. Some of the companies Kakao consulted include LG Household & Healthcare, Maeil Dairies Co., Samsung Electronics Co., and Yuhan-Kimberly Ltd. Furthermore, retail industry sources stated that Kakao would introduce its e-commerce platform sometime in July.īefore revealing its new e-commerce platform launch, Kakao had collaborated with market-leading manufacturers with extensive know-how in their respective sectors. At present, KakaoTalk is South Korea’s most extensive messaging application. Kakao would also significantly cultivate the various online shopping companies on its existing services by adopting the previously mentioned measures.Īs part of its e-commerce venture, Kakao would incorporate accumulated data from more than 49 million monthly active KakaoTalk users. ![]() Notably, Kakao plans to charge zero commission rates and apply a direct-to-consumer (D2C) business model to its upcoming e-commerce platform. have been leading the domestic e-commerce market. ![]() In particular, Kakao would be launching its e-commerce platform during this year’s second half. currently prepares to participate in the South Korean e-commerce sector. South Korea’s music streaming and download market was worth an estimated $406 million in 2015, according to Seoul-based brokerage Hana Financial Investment.Kakao Corp. It will also give the operator of the country’s dominant chat app, KakaoTalk, a head-start on Swedish music streaming service Spotify, which has yet to launch here. The deal, Kakao’s biggest since its 2014 all-stock merger with web search operator Daum, gives the mobile chat company access to the biggest streaming service user base in South Korea as well as a library of popular music content. Leon also owns its own record label with “K-Pop” artists such as IU. The South Korean firm said it would buy a 76.4 percent stake in MelOn streaming service operator Loen Entertainment Inc for $1.6 billion. SEOUL (Reuters) - Chat app operator Kakao Corp on Monday unveiled a $1.6 billion (1.9 trillion won) deal to buy control of South Korea’s top music streaming service provider, tapping the market for Korean pop to diversify revenues and even expand offshore. ![]()
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