Tuesday, September 1, 2015
Purchase Path, KakaoTalk Shares Jump
Acquisition Path by Kakao, the company behind the messaging service KakaoTalk get a positive response. This news affects the stock of the South Korean company.
Reported by Reuters on Friday (29/05/2015), Kakao shares reached 117.7 thousand won per share in stock trading today. Overall Kakaoshares rose 12% to its highest level in more than two months.
For KakaoTalk, buy Path into strategic acquisitions to embrace messaging greater market share and compete with competitors. Path, founded in 2010, currently has 30 million users. Its biggest market in Asia, with the most viewers in Indonesia.
However, some investors remained concerned Kakao Talk lagging of WhatsApp and Line. Messaging application that is identical to the color yellow brown still have to pursue more number of users when compared with the two competitors.
"This acquisition marks the first approach carried Kakao in global business," said Kakao in a statement. Also added in the statement that this acquisition is an opportunity they explore investment and cooperation opportunities.
The assets acquired by Kakao applications such as social networking and messaging applications Path Path Talk. There is no information on how the value of this acquisition. Neither KakaoTalk or Path does not mention the amount
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