- Saudi and Singapore wealth funds invest $930 million in Kakao Entertainment Corp. before it goes public.
- Funds to be used for expanding the company’s content offerings, capitalising on global interest for Korean media like “Squid Game”.
- Investment occurs amidst tech valuation downturn worldwide, signalling continued confidence in the Korean entertainment company.
Hey bae, have you heard that huge-money-throwing thing happened?
Come, let me tell you.
According to Yahoo Finance, both Saudi Arabia and Singapore sovereign wealth funds decided to throw $930 million into Kakao Entertainment Corp.!
They’re doing this even before the Korean social media behemoth goes public.
No more boring k-dramas?
Well, Kakao Entertainment already got a stable of apps that publish popular online stuff like animated shows and novels, ok?
This big-time investment will help them go broader by serving us more content.
They already making shows for Netflix, like ride the wave of famous Korean stuff like “Squid Game”.
AHH, you can watch those instead of binge on your parents’ 80s dramas.
You scratch my back, I scratch yours
This investment might be connected to that fancy royal visit, y’know?
Saudi Crown Prince Mohammed bin Salman visited Seoul not too long ago, causing talks of deals worth $30 billion for Korean companies.
Anyway, can’t say for sure, but there’s some kind of pattern forming, right?
Uncertainties? Bring ’em on!
Hello, you do realise it’s not such a good time for investment now, right?
Global markets are shaky, and people don’t have the mood to put money into startups.
But nope, our Saudi and Singapore friends are like, “we still believe in you, Kakao Entertainment!”
Things we must know
How can it be?
The share prices of Kakao Entertainment are still down 37% from a year ago!
But they’re not put off.
In fact, Kakao Corp. Chief Investment Officer Bae Jae-hyun said, “It’s significant that we were able to secure funds of this scale at a time when both the Korean and global markets face a lot of uncertainty and investment sentiment is weaker.”
So, what can we do now?
- First, come see whether this investment might change how you watch k-dramas, or other Korean content.
- Or, be like one smart investor, look at how people throw money at the entertainment industry even in shaky times. Maybe there’s something to learn, right?
- Lastly, maybe enjoy some good Korean entertainment, eh?
Anyway, Kakao Entertainment is going all out to bring us more addictive shows with our money.
Go for it!
Alright, now’s the end of this interesting investment drama.
You think our entertainment scene is gonna change big time because of this, or not?
Leave your thoughts in the space below!