Kakao Entertainment Revenue, Valuation, Funding & Investors

Kakao Entertainment is valued at $7B as of January 2023, a 5.8x revenue multiple. Kakao Entertainment revenue was $1.2B, as disclosed with its latest round.

Last Kakao Entertainment valuation

$7B

Undisclosed stage · Jan 2023

Last Kakao Entertainment funding round

$965M

Undisclosed stage · Jan 2023

Kakao Entertainment revenue

$1.2B

Undisclosed stage · Jan 2023

Key investors in Kakao Entertainment

  • GIC
  • Saudi Arabia's Public Investment Fund
  • Anchor Equity Partners

Kakao Entertainment Overview

About Kakao Entertainment

Kakao Entertainment is a South Korean entertainment and content company headquartered in Seongnam. It was created in March 2021 when Kakao Page absorbed Kakao M, combining a digital storytelling platform business with a music, video and artist management business. Its Page Company side runs webtoon and web novel platforms, including Kakao Page, Daum Webtoon and overseas services, while its M Company side covers music distribution, record labels, artist management, drama and film production. It is a subsidiary of Kakao Corp, with financial investors holding minority stakes. The company earns revenue from content sales and subscriptions, advertising, music and artist activities, and intellectual property licensing for adaptations into series and films. It has built its overseas presence partly through acquisitions of North American platforms such as Tapas and Radish.


Founded

2021

HQ

South KoreaSeongnam

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Subscription, Licensing

Revenue

$1.2B (Jan 2023)

Valuation

$7B (Jan 2023)

Kakao Entertainment Valuation

Kakao Entertainment is currently valued at $7B, based on its undisclosed-stage round in January 2023. Read the announcement ↗

The $965M round was led by GIC and Saudi Arabia's Public Investment Fund.

Kakao Entertainment's valuation has grown 21x from $335M at its Series D in December 2016 to $7B in January 2023, across 2 priced rounds.

Kakao Entertainment valuation by funding round

Revenue multiple
Kakao Entertainment valuation by funding round
DateStageValuationRevenue Multiple
Jan 2023Undisclosed stage$7B5.8x
Dec 2016Series D$335M-

Kakao Entertainment Revenue

Kakao Entertainment's latest recorded revenue is $1.2B, as of its undisclosed-stage round in January 2023. At a $7B valuation, that implies a 5.8x revenue multiple.

Kakao Entertainment revenue by funding round

Kakao Entertainment revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2023$1.2B$7B5.8xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Kakao Entertainment Funding History

Kakao Entertainment has raised a total of $1.1B across 2 funding rounds.

Kakao Entertainment's first fundraising round was a $106M Series D in December 2016. The most recent completed round was a $965M undisclosed-stage round in January 2023.

Kakao Entertainment funding rounds

Kakao Entertainment funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2023Undisclosed stageGIC (lead); Saudi Arabia's Public Investment Fund (lead)$965M$7BKakao Entertainment, a subsidiary of South Korean tech giant Kakao Corp., secured a 1.2 trillion won ($964-966 million) investment in January 2023 from Saudi Arabia’s Public Investment Fund (PIF) and Singapore’s GIC, with each contributing 600 billion won. The deal valued the company at 10.5 trillion won, down from an earlier target of 18 trillion won due to market conditions. The funding, described as the largest overseas investment in a South Korean content company, supports acquisitions, international expansion, and content growth in webtoons, web novels, music, K-pop artist management, dramas, and movies. Kakao Entertainment operates platforms like Melon and has acquired U.S. entities such as Tapas, Radish, and Wuxiaworld. Proceeds aim to strengthen global IP value chain amid economic uncertainty, with plans for North American growth and adapting web content into TV series and films.
Dec 2016Series DAnchor Equity Partners (lead); GIC$106M$335MIn December 2016 Podotree, the Kakao content subsidiary that operates the Kakao Page publishing platform and Daum Webtoon, raised KRW 125 billion (about USD 107 million) in a round led by Anchor Equity Partners, with Singapore's GIC and other undisclosed investors taking part. Kakao confirmed that the deal valued the company at KRW 500 billion, about USD 428 million. Podotree said the money would go toward growing its webtoon business, acquiring new intellectual property and licensing rights, and expanding into video content and advertising. Podotree was founded by Kakao in 2010, launched Kakao Page in April 2013 and was renamed KakaoPage Corp in 2018 before merging with Kakao M in March 2021 to form Kakao Entertainment, to which this round is attributed. The investment came in a difficult year for parent Kakao, whose shares fell from a January peak of KRW 120,000 to about KRW 79,000, and it marked the start of Anchor's long involvement in Kakao's content businesses.

Who has invested in Kakao Entertainment?

3 investors have backed Kakao Entertainment across its funding rounds, including GIC, Saudi Arabia's Public Investment Fund and Anchor Equity Partners.

Lead investors include GIC, Saudi Arabia's Public Investment Fund and Anchor Equity Partners.


Kakao Entertainment Investors

Investors in Kakao Entertainment by funding rounds participated
InvestorHQRoundsRoleFirst check
GICSingaporeSingapore2LeadDec 2016

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Acquisitions by Kakao Entertainment

Kakao Entertainment has acquired 5 companies to date.

Last acquisition by Kakao Entertainment was on March 1st 2023. Kakao Entertainment acquired SM Entertainment for $960M.


Latest Acquisitions by Kakao Entertainment

SM Entertainment
Dolphiners Films
STUDIOK110
Tapas Media
Description
S.M Entertainment Co is engaged in the media industry in Korea. Its business involves recording and production of music. It also distributes its music and videos through the medium of internet. Apart from its core operations, the company ventures into management, casting and training for artists.
Dolphiners Films is a production company creating feature films, commercials, and branded content. Based in Spain, the studio handles full-cycle production from scripting to post-production, collaborating with international brands and directors. Dolphiners operates through dolphiners.com, delivering projects for advertising agencies and entertainment platforms across Europe and Latin America.
STUDIOK110 is a Seoul-based full-service advertising agency integrating creative strategy with in-house production for television commercials and digital campaigns. The agency manages end-to-end processes from scripting and filming to editing and distribution, primarily serving clients in South Korea's automotive and consumer electronics sectors. Operating from facilities in Gangnam, it produces content for brands like Hyundai and LG, emphasizing high-quality visuals and narrative-driven advertising.
Tapas Media is a San Francisco-based digital publishing platform launched in 2015 hosting webcomics and novels from 50,000 creators. The service reaches 2 million monthly readers spending 70 million minutes on serialized content, with 5 billion total reads. Primarily attracting female millennials in the US, Tapas co-produces IPs for TV adaptations and distributes via iOS/Android apps ranking top in comics categories.
HQ CountrySouth KoreaSouth KoreaSouth KoreaUnited States
HQ City
Seoul
Seoul
Seoul
San Francisco, CA
Deal Date1 Mar 202321 Dec 202121 Dec 202110 May 2021
Valuation$960Mundisclosedundisclosed$510M
EV/Revenue
EV/EBITDA

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Investments by Kakao Entertainment

Kakao Entertainment has invested in 1 company to date.

Latest investment by Kakao Entertainment was on February 11th 2019. Kakao Entertainment invested in KAI Media in their $4M Seed round.


Latest Investments by Kakao Entertainment

KAI Media
Description
KAI Media is a Los Angeles-headquartered global K-pop entertainment company operating as hello82. It connects fans with artists via music distribution on Spotify and Apple Music, original video content on YouTube, experiential retail stores in Seoul and New York, and live events. Managing artists like ENHYPEN affiliates, KAI Media reaches millions through fan engagement platforms.
HQ CountryUnited States
HQ City
Los Angeles, CA
Deal Date11 Feb 2019
RoundSeed
Raised$4M
InvestorsSnow Corporation; CRIT Ventures
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Kakao Entertainment Competitors

Kakao Entertainment competitors include listed companies like China Literature and Bilibili, and private ones like Create Music Group, Epic Games, Spotter and Epidemic Sound.

Public and private companies comparable to Kakao Entertainment
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Create Music GroupUnited StatesLos Angeles, CAPrivate--$2.2B-
China LiteratureChinaChinaPublicly listed$1.1B($86M)$2.7B1.5x
Epic GamesUnited StatesCary, NCPrivate$5.7B$730M$23B3.9x
SpotterUnited StatesLos Angeles, CAPrivate--$2B-
Epidemic SoundSwedenStockholmPrivate$85M-$1.4B16.5x
BilibiliChinaChinaPublicly listed$4.6B$468M$5.3B0.6x

Kakao Entertainment Public Comps

Kakao Entertainment is still privately-owned, but its public comps include TBS Holdings, Bilibili, Nexstar Media Group, RTL Group, Arashi Vision, Toho, HYBE, Enlight Media, Nippon Television and Sirius XM.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
TBS Holdings$2.7B$634M2.2x2.2x9.4x22.8x
Bilibili$4.6B$468M0.7x0.6x6.7x4.9x
Nexstar Media Group$4.9B$1.3B3.4x2.3x12.8x6.5x
RTL Group$6.7B$625M1.1x1.0x12.3x7.8x
Arashi Vision$1.5B$135M3.5x2.5x38.1x78.5x
Toho$2.3B$573M3.7x3.7x14.9x16.5x
HYBE$2B($17M)2.3x1.4x(271.1x)15.6x
Enlight Media$607M$301M7.6x19.0x15.3x52.5x

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Common questions about Kakao Entertainment

When was Kakao Entertainment founded?Kakao Entertainment was founded in 2021.
Where is Kakao Entertainment headquartered?Kakao Entertainment is headquartered in Seongnam, South Korea.
Is Kakao Entertainment publicly listed?No, Kakao Entertainment is a private, VC-backed company.
What is Kakao Entertainment's valuation?Kakao Entertainment was last valued at $7B in its undisclosed-stage round in January 2023.
How much funding has Kakao Entertainment raised?Kakao Entertainment has raised $1.1B across 2 funding rounds.
What was Kakao Entertainment's last funding round?Kakao Entertainment's last funding round was a $965M undisclosed-stage round in January 2023, led by GIC and Saudi Arabia's Public Investment Fund.
Who are Kakao Entertainment's investors?Kakao Entertainment's investors include GIC, Anchor Equity Partners and Saudi Arabia's Public Investment Fund.
What is Kakao Entertainment's revenue?Kakao Entertainment's latest recorded revenue is $1.2B (January 2023).
What is Kakao Entertainment's revenue multiple?Kakao Entertainment's latest valuation implies a 5.8x revenue multiple ($7B valuation on $1.2B of revenue).
Which companies are comparable to Kakao Entertainment?Companies comparable to Kakao Entertainment include Create Music Group, China Literature, Epic Games, Spotter, Epidemic Sound and Bilibili.
How many companies has Kakao Entertainment acquired?Kakao Entertainment has acquired 5 companies, including SM Entertainment, Dolphiners Films, STUDIOK110, Tapas Media and Radish.
What was the largest acquisition by Kakao Entertainment?The $960M acquisition of SM Entertainment in March 2023 is the largest acquisition Kakao Entertainment has made to date.
How many companies has Kakao Entertainment invested in?Kakao Entertainment has invested in 1 company, including KAI Media.
What was Kakao Entertainment's last investment?In February 2019, Kakao Entertainment invested in KAI Media's $4M seed round alongside Snow Corporation and CRIT Ventures.

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