South Korea’s Top Messaging App Expects $200 Million in Revenue This Year

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In South Korea, there’s no escaping KakaoTalk. The country has a smartphone penetration rate of 73%, according to research firm EMarketer, and of those people, 93% use the mobile messaging app Kakao, Nielsen said.

Kakao expects its app will generate about $ 200 million in revenue this year, according to the company’s forecasts. That’s compared with $ 42 million last year, with a profit of $ 6.5 million.

But with little room left to grow in its home country, Kakao is looking elsewhere. That’s harder than it seems. Nearby Asian countries have already picked their favorite messaging appsLine is wildly popular in Japan, and Tencent’s WeChat dominates China with more than 230 million users. Read more…

More about Messaging, South Korea, Business, and Apps Software
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