'Yanadoo', a Kakao Affiliate, Secures 30 Billion KRW Investment... Company Valued at 300 Billion KRW

[Asia Economy Reporter Buaeri] Kakao's edutech affiliate Yanadoo announced on the 8th that it has secured an investment of 30 billion KRW and was valued at over 300 billion KRW.

The investment involved Korea Investment & Securities, KB Securities, Non-Electronic Asset Management, and Pureun Partners Asset Management.

After Kakao Kids and Yanadoo received final approval for their merger at their respective extraordinary general meetings in December last year, they officially completed the merger process this year and became an integrated corporation.

Since then, they have been expanding their business areas beyond early childhood content and English to include healthcare and customized lectures, centered around the goal achievement reward app 'Youcando,' which enables achievement through motivation.

With the merger synergy in full swing, the integrated corporation achieved sales of 50 billion KRW in the first half of this year alone and aims for 100 billion KRW in sales by the end of the year. They also plan to pursue a public listing next year.

Kim Jeong-su, co-CEO of Yanadoo, stated, "With profitable management, the merger, and the funds raised from this investment, we have sufficient capital to grow into a comprehensive education company. We plan to enhance our core platforms Youcando, Yanadoo Class, and Kakao Kids, expand partnerships with related education companies, and allocate funds for original content development."

This content was produced with the assistance of AI translation services.