Kakao in talks to acquire fashion shopping app Zigzag: report

kakao in talks to acquire fashion shopping app zigzag report

Sumary of Kakao in talks to acquire fashion shopping app Zigzag: report:

  • Kakao, the South Korean tech giant behind popular messaging app KakaoTalk, is taking steps to acquire mobile shopping app Zigzag, according to local reports Friday..
  • The reported deal could see Kakao buy a controlling stake in the operator of the shopping app — estimated to be worth about $1 billion — and create a new subsidiary for a merger..
  • The app boasts some 3 million monthly active users and logged transactions worth 750 billion won ($671 million) last year..
  • The acquisition could give a boost to KakaoTalk e-commerce capabilities, adding to the range of items available for the app gift and shopping features..
  • Kakao has not been the only one to eye up-and-coming e-commerce platforms, looking to the post-coronavirus market…

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