Korean ‘Webtoons’ Firm Eyes $18 Billion Value from IPO
- Kakao unit IPO is veering towards Korea, considering U.S.
- KakaoBank and Kakao Pay are other Kakao units that could list
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Kakao Entertainment Corp. is considering New York as a venue for its planned float next year, the latest South Korean company to look into a U.S. initial public offering after e-commerce giant Coupang Inc.’s blockbuster listing in March.
Kakao Entertainment Chief Executive Lee Jinsoo said that while the focus is on a Korean listing, the company is also looking into New York where Coupang’s $4.6 billion float was the biggest U.S. initial public offering since Uber Technologies Inc.’s 2019 listing.