Kakao Mobility

About Kakao Mobility

Kakao Mobility originated from Kakao Corp., the South Korean internet giant behind the KakaoTalk messenger app. The journey began with the launch of the Kakao Taxi app in March 2015, which aimed to digitize the taxi-hailing market. Following its initial success, Kakao Mobility was officially spun off as an independent subsidiary in 2017 to oversee and expand the corporation's transportation services. This strategic move was backed by a significant 500 billion won investment from a consortium led by TPG Capital. The company's founder is Kim Beom-soo, who also founded Kakao Corp.

Operating primarily in the B2C and B2B sectors within South Korea, Kakao Mobility has established a dominant market position, particularly in major metropolitan areas like Seoul, Busan, and Incheon. The company's business model is centered on its comprehensive "Mobility as a Service" (MaaS) platform, Kakao T. This super-app integrates a wide array of transportation services, connecting a vast user base with various mobility solutions. Revenue is generated through several streams, including commission fees from its franchise taxi business, "Kakao T Blue," fees from corporate clients for employee transportation, and revenue from its diverse service offerings. The company also recently introduced a subscription service, "Kakao T Members," offering different packages for taxi users and car owners.

The Kakao T platform is the core of the business, offering an extensive suite of services beyond its initial taxi-hailing function. These services include a designated driver booking service (KakaoDriver), a real-time parking search and reservation system (KakaoParking), and navigation services. The platform has expanded to include bike-sharing (KakaoBike), car rentals, and even shuttle services. For corporate clients, a dedicated smart-mobility platform offers customized and cost-effective transportation solutions. A key feature is the integration of real-time traffic data and advanced matching algorithms to efficiently connect users with drivers. The company is also venturing into autonomous driving, having launched a pilot service for self-driving vehicles and investing in the development of Level 4 autonomous technology.