Naver Spins Off Zepeto for 'AR Avatar Service'
[Asia Economy Reporter Buaeri] Naver announced on the 16th that it will spin off its augmented reality (AR) avatar service 'Zepeto' into a separate corporation.
The newly established 'Naver Z Corporation' through a physical division will be responsible for the Zepeto service. Snow CEO Kim Chang-wook and Zepeto leader Kim Dae-wook will serve as co-CEOs, and after the split on May 1, it will become a 100% subsidiary of Snow.
Naver stated, "The newly launched 'Naver Z Corporation' plans to focus more on building its own avatar platform ecosystem and global expansion."
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Zepeto is a service that creates users' avatars using facial recognition, AR, and 3D technologies. Since its launch in August 2018, it surpassed 130 million global cumulative users in just over a year and a half.
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