Kakao in talks to get style searching application Zigzag: report

(Zigzag) Kakao, the South Korean tech large at the rear of well-liked messaging application KakaoTalk, is having actions to obtain cell purchasing app Zigzag, according to community studies Friday. The claimed deal could see Kakao invest in a controlling stake in the operator of the browsing application — believed to […]

(Zigzag)

Kakao, the South Korean tech large at the rear of well-liked messaging application KakaoTalk, is having actions to obtain cell purchasing app Zigzag, according to community studies Friday.

The claimed deal could see Kakao invest in a controlling stake in the operator of the browsing application — believed to be worthy of about $1 billion — and produce a new subsidiary for a merger.

Kakao, however, has not yet confirmed the shift, declaring it is taking into account “a assortment of selections.”

The studies came immediately after Kakao, as soon as thought of a potential buyer, determined to choose out of the race to acquire a controlling stake in eBay Korea previous month.

Designed in 2015, Zigzag presents personalized buying experience centered on an synthetic intelligence algorithm. The app features some 3 million every month energetic end users and logged transactions value 750 billion won ($671 million) final 12 months.

The acquisition could give a raise to KakaoTalk’s e-commerce abilities, adding to the selection of things readily available for the app’s present and shopping options.

Kakao has not been the only 1 to eye up-and-coming e-commerce platforms, wanting to the publish-coronavirus sector.

Previously this thirty day period, retail large Shinsegae Group’s on-line browsing platform SSG.com announced a offer worthy of 265 billion won to acquire trend e-commerce system W Principle.

On line buying profits noticed an 18.4 percent soar final year while department shops and supermarkets respectively suffered a 9.8 {d6d67865d0c481d6826435c1218909f2de4bf59758ea77e63d9ed3e5a8158a00} and a 3 per cent drop in revenue, according to data from the Ministry of Trade, Industry and Strength.

By Yim Hyun-su (hyunsu@heraldcorp.com)

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