Yello Mobile: Difference between revisions
Founder borrowing and not paying back |
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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.<ref name=theinvestor>{{cite web|url=http://www.theinvestor.co.kr/view.php?ud=20190227000714|title=The imminent fall of Korea's first unicorn Yello Mobile|website=www.theinvestor.co.kr}}</ref> |
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.<ref name=theinvestor>{{cite web|url=http://www.theinvestor.co.kr/view.php?ud=20190227000714|title=The imminent fall of Korea's first unicorn Yello Mobile|website=www.theinvestor.co.kr}}</ref> |
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The company pulled their [[initial public offering]] from the [[KOSDAQ]]. |
The company pulled their [[initial public offering]] from the [[KOSDAQ]]. |
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In February 2019, the company announced that Lee had resigned as CEO<ref name=econovill>{{cite web|url=http://www.econovill.com/news/articleView.html?idxno=359920|title=이상혁 옐로모바일 대표 연임...가능성 타진 '안간힘'|date=1 April 2019|website=www.econovill.com}}</ref> amidst rumors of [[bankruptcy]] proceedings and embezzlement accusations.<ref name=econovill/><ref>{{cite web|url=http://www.pitchone.co.kr/11681/|title=[피치원단독]옐로모바일,1400억원 CB상환못해,파산초읽기,이상혁 CEO사법처리임박|publisher=}}</ref> |
In February 2019, the company announced that Lee had resigned as CEO<ref name=econovill>{{cite web|url=http://www.econovill.com/news/articleView.html?idxno=359920|title=이상혁 옐로모바일 대표 연임...가능성 타진 '안간힘'|date=1 April 2019|website=www.econovill.com}}</ref> amidst rumors of [[bankruptcy]] proceedings and embezzlement accusations.<ref name=econovill/><ref>{{cite web|url=http://www.pitchone.co.kr/11681/|title=[피치원단독]옐로모바일,1400억원 CB상환못해,파산초읽기,이상혁 CEO사법처리임박|publisher=}}</ref> |
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Revision as of 18:41, 4 October 2024
 | This article contains content that is written like an advertisement. (April 2019) |
| Industry | Software industry |
|---|---|
| Founded | 2012 in Seoul, South Korea |
| Founder | Sanghyuk Lee |
| Headquarters | South Korea |
Number of employees | ~3,000 |
| Website | yellomobile |
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.[1] Yello Mobile's approach was new for South Korea in 2012.[2] It was also considered one of South Korea's first unicorn startup companies.[3] 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.[4][5]
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.[6]
The company pulled their initial public offering from the KOSDAQ.[3]
In February 2019, the company announced that Lee had resigned as CEO[7] amidst rumors of bankruptcy proceedings and embezzlement accusations.[7][8]
References
- ^ "Yello Mobile's value questioned". Korea JoongAng Daily.
- ^ "It's buy and conquer for South Korea's Yello Mobile". Nikkei Asian Review.
- ^ a b 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.
- ^ "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.
- ^ "The imminent fall of Korea's first unicorn Yello Mobile". www.theinvestor.co.kr.
- ^ a b "이상혁 옐로모바일 대표 연임...가능성 타진 '안간힘'". www.econovill.com. 1 April 2019.
- ^ "[피치원단독]옐로모바일,1400억원 CB상환못해,파산초읽기,이상혁 CEO사법처리임박".