Korea Development Bank paves way for Kakao Enterprise IPO Posted : 2021-01-07 15:39 Updated : 2021-01-07 19:02 By Park Jae-hyuk Kakao Enterprise has come to the fore as another Kakao subsidiary that will likely go public in the near future, after the artificial intelligence (AI)-based service provider attracted large-scale investment from Korea Development Bank (KDB), according to industry officials, Thursday. KDB said Wednesday it decided to acquire 1.36 million newly issued Kakao Enterprise shares for 100 billion won ($91 million). The state-run lender, which became the tech firm's second-largest shareholder with an 8.8 percent stake, estimated the company's valuation at 1.15 trillion won. Before the investment, Kakao Enterprise's valuation was estimated at 81.4 billion won.