Yello Mobile

Yello Mobile is a South Korean mobile software company that primarily grew after being founded in 2012 as a rollup of various software companies in South Korea.

Yello Mobile
옐로모바일
IndustrySoftware industry
Founded2012 in Seoul, South Korea
FounderSanghyuk Lee
Headquarters
South Korea
Number of employees
~3,000
Websiteyellomobile.com

History

Lee founded the company as a startup incubator, using a variety of equity-based swaps and investments to roll-up software businesses in South Korea.[1] Yello Mobile's approach was a new one for South Korea at the time but various copy cats emerged very quickly.[2]

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.[3]

While revenue increased from 68 million won (US$60,463) to 527 billion won (US$468 million), it faced headwinds from lawsuits with investors and financial challenges.[3][4] The company pulled their initial public offering from the KOSDAQ for these reasons.

In February 2019, the company announced that Lee had resigned as CEO[5] amidst rumors of bankruptcy proceedings and embezzlement accusations.[5][6]

References
  1. "Yello Mobile's value questioned". Korea JoongAng Daily.
  2. "It's buy and conquer for South Korea's Yello Mobile". Nikkei Asian Review.
  3. "The imminent fall of Korea's first unicorn Yello Mobile". www.theinvestor.co.kr.
  4. "Macquarie-backed Korean unicorn Yello Mobile on verge of collapse: Report". DealStreetAsia.
  5. "이상혁 옐로모바일 대표 연임...가능성 타진 '안간힘'". www.econovill.com. 1 April 2019.
  6. "[피치원단독]옐로모바일,1400억원 CB상환못해,파산초읽기,이상혁 CEO사법처리임박".
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