Korea-based mobile Internet company, Yello Mobile, just announced an investment of $30m from SBI Holdings (SBIH), Japan’s Internet financial group, to accelerate the company’s mobile media and platform business in Asia in order to become a leading player in the mobile platform space. In addition, the deal strengthens the strategic partnership between Yello Mobile and SBIH, announced late last year, which allows Yellow Mobile to tap SBIH’s resources and in return offers SBIH the chance to leverage Yello Mobile’s marketing expertise.
Yello Mobile provides an ecosystem of mobile platforms, apps and services
Yello Mobile, founded in 2012, operates an ecosystem of mobile platforms, apps and services. In 2015, its combined revenue for the first three quarters rose 338% the year over, due to strong growth and engagement as well as its cross-platform synergies.
Lee Sang Hyuk, Founder and CEO, Yello Mobile, said:
“We are pleased to add a strategic investor of SBI Holdings’ caliber to our roster of high quality investors and simultaneously strengthen our partnership with Japan’s leading online brokerage. SBIH’s financial support and global business network will be valuable assets to Yello Mobile as we continue to expand our geographic reach. We are intensely focused on driving sustainable growth and profitability and appreciate the vote of confidence that this investment represents. We look forward to continuing to work with SBIH to drive each of our businesses forward.”
Valuing the company at $4bn, Yello Mobile announced a $43m financing round in December 2015. The company plans to raise additional funds over the coming months.
Yoshitaka Kitao, President and CEO, SBI Holdings, adds:
“By focusing on key strategic verticals, Yello Mobile has quickly become Korea’s largest mobile platform, with tremendous consumer reach. We see substantial opportunities for the company to expand both at home and abroad, and we share Yello Mobile’s vision of creating a dynamic mobile system across Asia. We are excited to support the company’s continued growth while leveraging Yello’s unmatched digital marketing expertise and loyal customer base to enhance SBIH’s own offerings. Starting with this investment, we will deepen our strategic business collaborations and drive sustainable growth for us and for Yello Mobile.”