Kakao Corp. reported Thursday that its quarterly sales have been improving along with the takeover of Loen Entertainment last year, with this year’s first-quarter sales recording 443.8 billion won ($393.5 million)
The company saw an increase of 83 percent in sales and 81.8 percent in business profits compared to last year’s January-March period. Its net term profits surged 397.6 percent during the same period.
(Kakao Corp.)
The popularity of Loen’s online music store Melon led to a 142 percent increase in the sales of its content platform within a year.
Kakao is focusing on sectors that have shown positive progress, such as by developing a more precise targeting mechanism for its advertisement platform, adding in new games with Kakao Friends intellectual property and adding video content to Kakao Page.
The company is also planning to develop its services involving artificial intelligence.
By Yim Ji-min (jiminy@heraldcorp.com)