[Alpha Biz= Ellie Kim] Kakao is set to sell part of its stake in Dunamu, the operator of cryptocurrency exchange Upbit, in a deal worth approximately KRW 1 trillion—representing a more than 300-fold return on its initial investment.
Kakao disclosed on May 14 that its subsidiary Kakao Investment will sell 2.284 million shares, equivalent to a 6.55% stake in Dunamu, for a total of KRW 1.03 trillion.
The company originally invested around KRW 3.5 billion in Dunamu roughly a decade ago, making this transaction one of the most successful venture capital exits in South Korea’s history.
The disposal is scheduled to be completed on June 15.
Alphabiz Reporter Ellie Kim(press@alphabiz.co.kr)
https://www.alphabiz.co.kr/news/view/1065575973269772
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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