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Yello Mobile
옐로모바일
IndustrySoftware industry
Founded2012 in Seoul, South Korea
FounderSanghyuk Lee
Headquarters
South Korea
Number of employees
~3,000
Websiteyellomobile.com

Yello Mobile is a South Korean mobile software company based in Seoul.

History

Yello Mobile was founded in 2012 by Sanghyuk Lee. The company began as startup incubator, utilizing a variety of equity-based investments to consolidate software businesses in South Korea.[1] Yello Mobile's approach was new for South Korea in 2012, but since then similar approaches have emerged.[2]

Over a period of 6 years, the company acquired over 94 startup companies in their SMATO (Shopping, Media, Advertisement, Travel and Online-to-Offline) categories.[3]

While revenue increased from 68 million won (US$60,463) in 2012 to 527 billion won (US$468 million) in 2017,[when?] it faced headwinds from lawsuits with investors and financial challenges.[3][4] The company pulled their initial public offering from the KOSDAQ.

In February 2019, the company announced that Lee had resigned as CEO[5] amidst rumors of bankruptcy proceedings and embezzlement accusations.[5][6]

References

  1. ^ "Yello Mobile's value questioned". Korea JoongAng Daily.
  2. ^ "It's buy and conquer for South Korea's Yello Mobile". Nikkei Asian Review.
  3. ^ a b "The imminent fall of Korea's first unicorn Yello Mobile". www.theinvestor.co.kr.
  4. ^ "Macquarie-backed Korean unicorn Yello Mobile on verge of collapse: Report". DealStreetAsia.
  5. ^ a b "이상혁 옐로모바일 대표 연임...가능성 타진 '안간힘'". www.econovill.com. 1 April 2019.
  6. ^ "[피치원단독]옐로모바일,1400억원 CB상환못해,파산초읽기,이상혁 CEO사법처리임박".
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