Kakao Mobility, the ride-hailing subsidiary of South Korean company Kakao, has acquired London-based Splyt to scale its “super app” strategy in Southeast Asia and Europe. Splyt integrates other services on apps for industries such as travel, ride-hailing and finance. Financial terms of the deal were not disclosed; however, reports indicate Splyt shelved plans for an initial public offering amid a cooler climate for tech stocks. Kakao Mobility launched in Guam last year and expanded into Laos earlier this year. The acquisition includes technology and talent, with around 30 Splyt staff joining Kakao Mobility.
Kakao Mobility acquires Splyt, a ‘super app’ startup, with previous funding from SoftBank and Grab.
