| 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
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. Yello Mobile's approach was new for South Korea in 2012. It was also considered one of South Korea's first unicorn startup companies. 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.
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. The company pulled their initial public offering from the KOSDAQ, and in February 2019, the company announced that Lee had resigned as CEO amidst rumors of bankruptcy proceedings and embezzlement accusations.
References
- "Yello Mobile's value questioned". Korea JoongAng Daily.
- "It's buy and conquer for South Korea's Yello Mobile". Nikkei Asian Review.
- ^ 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.
- ^ "이상혁 옐로모바일 대표 연임...가능성 타진 '안간힘'". www.econovill.com. 1 April 2019.
- "[피치원단독]옐로모바일,1400억원 CB상환못해,파산초읽기,이상혁 CEO사법처리임박".