Yello Mobile
| Industry | Software industry |
|---|---|
| Founded | 2012 in Seoul, South Korea |
| Founder | Sanghyuk Lee |
| Headquarters | South Korea |
Yello Mobile is a South Korean mobile software company based in Seoul.
History
[edit]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.[2] It was also considered one of South Korea's first unicorn startup companies.[3] 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.[4]
Revenue increased from 68 million won (US$60,463) in 2012 to 527 billion won (US$468 million) in 2017. It also faced lawsuits and with investors over Lee borrowing from partners and affiliates without paying them back.[5][6] The company pulled their initial public offering from the KOSDAQ,[3] and in February 2019, the company announced that Lee had resigned as CEO[7] amidst rumors of bankruptcy proceedings and embezzlement accusations.[7][8]
References
[edit]- ^ "Yello Mobile's value questioned". Korea JoongAng Daily.
- ^ "It's buy and conquer for South Korea's Yello Mobile". Nikkei Asian Review.
- ^ a b Cervantes, Steve (7 May 2020). "The rise and fall of South Korea's one of the first unicorn startups – Yello Mobile". Korea Tech Desk. Retrieved 4 October 2024.
- ^ "The imminent fall of Korea's first unicorn Yello Mobile". www.theinvestor.co.kr.
- ^ "In brief: South Korea's 'first startup unicorn' on the brink of collapse". Tech in Asia. 28 February 2019. Retrieved 4 October 2024.
- ^ "Macquarie-backed Korean unicorn Yello Mobile on verge of collapse: Report". DealStreetAsia.
- ^ a b "이상혁 옐로모바일 대표 연임...가능성 타진 '안간힘'". www.econovill.com. 1 April 2019.
- ^ "[피치원단독]옐로모바일,1400억원 CB상환못해,파산초읽기,이상혁 CEO사법처리임박".