Kakao revalued Daum's corporate value to the 190 billion won range.
Kakao disclosed on the 12th that it will change the transfer price of AXZ, the operator of Daum, from the previous 7 billion won to 194.4 billion won. Because Daum's personnel and traffic were not reflected in the previous transfer price, the price was recalculated.
Kakao established wholly owned subsidiary AXZ in May last year, and in December transferred Daum's core services—news, search, cafe, and email—to AXZ. Kakao has selected Upstage as the potential acquirer and is proceeding with the sale of AXZ equity.
A Kakao official said, "In May last year, assets such as AXZ's traffic and number of members, and personnel, were not clearly defined," and noted, "We had planned a later revaluation for an accurate assessment, and this time we carried out the revaluation of the relevant assets."
Kakao is accelerating the streamlining of some services within Daum ahead of Upstage's acquisition of Daum. Kakao will end the video platform KakaoTV service on June 30, and in the first half of the year Kakao Games will also discontinue the PC game channeling service that has been provided to Daum Game.