Podotree

Podotree Co, Ltd. was established in July 2010 by Beom Soo Kim, founder of NHN and co-founder of Kakao, alongside Lee Jin-soo, former head of marketing at NHN. Initially launched as a mobile application venture, the company focused on creating globally-common content with a business model tailored for smartphones and tablet PCs. Early application releases included educational and entertainment apps like "Super 0.99," an English vocabulary app, and a 3-D interactive e-adventure called "Wizard of OZ," with a pricing strategy centered around $0.99 to attract a wide user base.

The firm's trajectory shifted significantly as it became a content-creating subsidiary of Kakao. In April 2013, Podotree and Kakao jointly began operating the social network service Kakao Page, a mobile-optimized content platform. This platform leveraged the vast user base of the KakaoTalk messenger app and grew by incorporating paid subscription content services. By December 2015, Podotree officially became a subsidiary of Kakao after Beom Soo Kim relinquished his stake. A major milestone occurred in December 2016, when the company secured a 125 billion won (approximately $106.56 million) investment from a consortium led by Anchor Equity Partners, which also included Singapore's sovereign wealth fund, GIC. This Series B funding round valued Podotree at around 500 billion won.

The company's business model evolved to focus on monetizing intellectual property through its mobile content platforms, which included Kakao Page and Daum Webtoon. Revenue was generated through paid content, such as webtoons and web novels, with plans to expand into video and advertising. Podotree aimed to expand its services into international markets, including Japan, China, and the United States. This strategy was demonstrated through a deal with Tencent to launch twenty webtoons in the Chinese market. On August 1, 2018, Podotree was rebranded as KakaoPage Corp., which later merged with Kakao M in March 2021 to form the unified entity Kakao Entertainment. Although no longer active under its original name, Podotree is recognized as a foundational element of what has become a major South Korean entertainment and media company.

Keywords: Podotree, KakaoPage, Beom Soo Kim, Lee Jin-soo, mobile content platform, webtoon, web novel, Kakao subsidiary, Anchor Equity Partners, GIC, Daum Webtoon, digital content, South Korea startup, mobile application development, educational apps, content monetization, intellectual property, Kakao Entertainment, Tencent partnership