(courtesy of HYBE Labels)
Top celebrities including BTS, Justin Bieber, J Balvin and Demi Lovato as well as the top management of the two companies expressed enthusiasm over the new partnership in the video uploaded on Apr. 6 by HYBE’s official YouTube channel, HYBE Labels.
“Such great news that leaves us all in awe! Justin Bieber, Ariana Grande, J Balvin! The team behind these and so many incredible artists have come together with HYBE. We hope this new adventure will give fans a fresh experience and be a source of new joy,” said BTS members in the video.
HYBE x Ithaca Holdings celebration video (courtesy of HYBE Labels)
Kakao Corp.’s Japanese unit, which operates Japan’s largest webtoon platform Piccoma, is in talks to attract as much as 500 billion won ($446 million) from Seoul-based private equity firm Anchor Equity Partners.
According to the investment banking industry on Apr. 6, Kakao Japan is seeking investment from Anchor Equity, presenting its enterprise value at between 7 trillion won and 8 trillion won.
Kakao Japan is 78.4% owned by Kakao Corp., one of South Korea’s top content and mobile app operators. Kakao Page Corp. owns the remaining 21.6% of Kakao Japan.
Piccoma, Japan’s largest webtoon platform.
Industry officials said Anchor Equity is considering an investment in Kakao Japan as the Piccoma operator is profitable from its platform business and may pursue an initial public offering in Japan or the US.
Pinkfong Baby Shark is the most-watched YouTube video with over 8 billion views.
SmartStudy, a South Korean edtech firm behind global YouTube hits Pinkfong and Baby Shark Dance, has become the country’s 13th unicorn startup after receiving an enterprise value of over 1 trillion won ($890 million) in the latest funding round.
The company is currently wrapping up around a 30 billion won fundraising from investors, including Korea Development Bank and Pureun Partners, according to investment banking sources on Apr. 5. This will make SmartStudy the first domestic content platform to join the ranks of unicorn startups in Korea, thanks to the characters Pinkfong and Baby Shark becoming global hits.
Yeouido, the main financial street in South Korea
South Korean companies, having raised 30 trillion won ($27 billion) in both equity and bond issues in the first quarter of this year, are on course to set a new record for capital raising for the entire year, according to the country s top financial regulator.
Driven by year-long stock market rallies, their rush to secure cash garnered a warm response from investors who let down their guard on the survivors of the global pandemic.
Amid expectations of a global economic recovery, the surging valuations of companies in the growth industries of bio, rechargeable battery, internet, gaming and renewable energy prodded Korean companies to step up their advance into new businesses with investor money.