Kakao makes profits

Kakao, the company that manages one of Korea’s most popular chat apps, reported Thursday that it earned profits last year for the first time since it started its service three years ago. The turnaround suggests that the firm now has a profitable business model supported by money-making features, especially its game platforms, which were fueled by its immensely popular free mobile messenger Kakao Talk.

Kakao first launched the messenger in March, 2010, and it quickly gained popularity, becoming the dominant chat application for two years until late last year when NHN’s Line toppled it. Kakao Talk currently has around 80 million subscribers while Line has 100 million. The firm introduced new services periodically such as its social service Kakao Story and ad service Plus Friend, but it was not until in August last year when it brought in a game platform that it turned into the black.

For full article, see Korea Times.

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