Mobile social network Path, once a challenger to Facebook, is closing down

It’s that time again, folks, time to say goodbye to a social media service from days past. Following the shuttering of Klout earlier this year, now Path, the one-time rival to Facebook, is closing its doors, according to an announcement made today. (Yes, you may be surprised to learn that Path was still alive.) The […]

Toss, Korea’s top payment app, raises $40M from Sequoia China and Singapore’s GIC

The largest payment app in South Korea, Toss, has pulled in $40 million in fresh investment from Singapore sovereign wealth fund GIC and Sequoia China. The deal for Viva Republica, Toss’s parent company, comes just over a year after it raised $48 million from payment giant PayPal and others. There’s no disclosed valuation for this newest […]

Skelter Labs raises $9M to help put Korea on the global AI map

China and the U.S. are the two countries most closely associated with artificial intelligence technology, but a startup in Korea is out to add its nation to the mix after it raised more than $9 million from some big-name investors. Skelter Labs, which was founded in 2015 by the former head of tech at Google Korea, […]

Chat app Kakao’s games business lands $130M from Tencent and others ahead of IPO

Korea’s dominant messaging firm Kakao is back raising funds after its games business, a standalone unit that is headed for an IPO, pulled in $130 million (140 billion KRW) from Tencent and a range of other strategic investors. The company, which owns Korea’s top mobile messaging app and one of the country’s largest internet portals, […]

Korea’s Kakao eyes overseas acquisitions following $1 billion raise

Korea’s Kakao, the internet giant behind the country’s top messaging app, is actively seeking overseas investment opportunities after it raised $1 billion via a placement. Kakao is valued at over $7 billion and its services are used by more than 40 million people. The company, which counts Tencent as an early investor, now appears to […]