Kakao is a mobile lifestyle platform company with services spanning messaging, mail, search, news, advertising, gaming, e-commerce, music, maps and more.
Kakao is a South Korean Internet company that was established in 2014. It formed as a result of a merger between Daum Communications and Kakao. In 2014, the company was renamed Daum Kakao. The company rebranded once more in 2015, reverting simply to Kakao from Daum Kakao.
In May 2015, the company acquired Path, an American social media company that had become successful in Asia. In January 2016, Kakao acquired a 76.4% stake in LOEN Entertainment, a large South Korean entertainment company, for $1.5 billion. It was later rebranded as Kakao M. The company has gained further prominence from KakaoTalk, a free mobile instant messaging application for smartphones with free text and free call features. By May 2017, the app had 220 million registered users and 47 million active monthly users.
Besides the deflationary approach to increase the value of KLAY, the protocol also revealed that it is committed to increasing the utility of the digital currency beyond its use as a gas fee.
By identifying the major cause to address per its own flaws with regard to the outage, Kakao Corp has come up with a plan to build its own data center.
The major outage at the Kakao data center has triggered worrisome comments from many, including South Korea’s president Yoon Suk-yeol.
