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Kakao Entertainment announced today it has raised $966 million (1.2 trillion won) in financing from sovereign wealth funds, such as Saudi Arabia’s Public Investment Fund (PIF) and Singapore-based Pwarp Investment. The entertainment subsidiary of South Korean internet giant Kakao operates storytelling platforms (web novels and webtoons), music, K-pop artists management, and other media (movie and…
AmazeVR, a Los Angeles-based virtual concert platform, said Tuesday it has raised a $17 million funding round to create immersive music experiences through virtual reality (VR) concerts. Like other industries, the entertainment sector was affected by the coronavirus lockdown. Many music artists had to cancel or push back their live events during the pandemic. Some…
Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This week Alex was back with Grace and our new producer to kick off the week. Now that we are through earnings season, things are a little quieter on the forecast front, but…
South Korea’s communication watchdog, the Korea Communications Commission (KCC), said Tuesday it will investigate Apple and Google over potential violations of the country’s in-app payment rule. Local media reports noted that the agency will start this investigation on August 16. Apart from Apple and Google, the KCC is also investigating SK Group’s homegrown app store…
The number of emoji subscription purchases on the South Korean messaging app KakaoTalk has dropped by a third over the year, parent firm Kakao said in quarterly earnings call Thursday, blaming Google’s new in-app payment policy, which forces apps to use Android-maker’s own billing system. KakaoTalk’s Emoticon Plus subscription service, which costs approximately $3.8 per…
Although the mobile app boom driven by pandemic lockdowns has long since passed, consumers’ mobile usage is still growing. According to new data released today by app intelligence firm data.ai (previously App Annie), consumers in over a dozen worldwide markets are now spending four to five hours per day in apps. While the daily time…