Yello Mobile Valuation, Funding & Investors
Yello Mobile is valued at $4B as of November 2016.
Last Yello Mobile valuation
$4B
Undisclosed stage · Nov 2016
Last Yello Mobile funding round
$10M
Undisclosed stage · Nov 2016
Cumulative funding Yello Mobile raised
$187M
across 4 funding rounds
Key investors in Yello Mobile
Formation 8
SBI Investment
Macquarie Asset Management
About Yello Mobile
Yello Mobile is a Seoul-based mobile apps platform that aggregates more than 80 startups under its SMATO framework, spanning shopping, media, advertising, travel, and offline-to-online services. Key products include the shopping search app Coocha and digital media platform Pikicast. At its peak, Yello Mobile served roughly 18 million monthly active users in South Korea, about a third of the country's population.
Founded
2012
HQ
South KoreaWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Advertising
Valuation
$4B (Nov 2016)
Yello Mobile Valuation
Yello Mobile is currently valued at $4B, based on its undisclosed-stage round in November 2016.
The $10M round was led by Macquarie Asset Management.
Yello Mobile's valuation has grown 4.0x from $1B at its undisclosed-stage round in November 2014 to $4B in November 2016, across 4 priced rounds.
Yello Mobile valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2016 | Undisclosed stage | $4B |
| Feb 2016 | Undisclosed stage | $4B |
| Dec 2015 | Undisclosed stage | $4B |
| Nov 2014 | Undisclosed stage | $1B |
Yello Mobile Funding History
Yello Mobile has raised a total of $187M across 4 funding rounds.
Yello Mobile's first fundraising round was a $100M undisclosed-stage round in November 2014. The most recent completed round was a $10M undisclosed-stage round in November 2016.
Yello Mobile funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2016 | Undisclosed stage | Macquarie Asset Management (lead) | $10M | $4B | Yello Mobile raised $10 million in a Convertible Note - II round on November 11, 2016, from Macquarie Capital. This was the company's seventh funding round, bringing total funding to $216.07 million across seven rounds. Macquarie Capital participated solely in this round. Earlier in February 2016, Yello Mobile raised $30 million from SBI Holdings at a $4 billion valuation as part of an ongoing round that had previously included $47.2 million in December 2015 led by Formation 8, also at $4 billion. The company, a Seoul-based mobile apps platform, had acquired over 80 startups and served 18 million users by late 2015, focusing on SMATO verticals including shopping, media, adtech, travel, and offline-to-online services. |
| Feb 2016 | Undisclosed stage | SBI Investment (lead) | $30M | $4B | Yello Mobile, a Seoul-based mobile apps platform, aggregated over 80 startups in categories like shopping, media, advertising, travel, and O2O services under its SMATO framework. Founded in 2013 by Sanghyuk Lee, it started with hotel and restaurant recommendations, evolving into Korea's largest mobile platform with digital advertising, cloud-based travel management via Zari, and services like Tour Baksa and Hannintel. The company raised nearly $150 million prior to this round through acquisitions and funding. On February 16, 2016, Yello Mobile secured a $30 million investment from Japan's SBI Holdings at a $4 billion valuation, part of a larger $73 million round with potential additional tranches from SBI and prior investors like Formation 8. This followed a first tranche reported in December at the same valuation, strengthening ties with SBI after a strategic partnership announced late 2015. CEO Lee Sang Hyuk highlighted SBI's financial support and network for geographic expansion, while SBI's Yoshitaka Kitao praised Yello's consumer reach and digital marketing expertise for Asian growth. The investment supported Yello's focus on sustainable growth and profitability amid rapid scaling. Later estimates showed 442.7 billion KRW (~$385 million) revenue in 2016 with 41% growth but widening net losses to 142.4 billion KRW (~$123.7 million) due to goodwill amortization. Yello had been profitable in prior quarters but faced challenges leading to IPO delays in 2017. |
| Dec 2015 | Undisclosed stage | Formation 8 (lead) | $47M | $4B | Yello Mobile, a South Korean mobile lifestyle solutions provider founded in 2012, operates a portfolio of over 80 mobile apps across SMATO verticals (Shopping, Media, AdTech, Travel, Offline-to-Online), serving 18 million monthly active users in Korea, roughly one-third of the population. Key apps include shopping search platform Coocha with 8 million MAUs (up 216% year-over-year) and digital media platform Pikicast, noted for strong user growth, increasing monetization, and high daily engagement second only to Facebook. The company has pursued aggressive acquisitions throughout Asia (excluding China), requiring founders to stay on for 3-5 years post-acquisition, and focuses on building a dynamic mobile ecosystem. On December 14, 2015, Yello Mobile announced a $47.2 million financing round as convertible debt led by existing investor Formation 8 from its second fund, with direct participation from several of Formation 8's limited partners, at a $4 billion valuation. This brought total funding to just under $210 million. The capital aims to fuel continued growth in leading apps, O2O segments providing on-demand apps, operations software, and payment infrastructure to offline merchants, and expansion across Asian markets. An additional tranche, up to double this amount, was expected by year-end at the same valuation. This round followed a prior $100 million raise from Formation 8 in November 2014 at a $1 billion valuation, marking Yello Mobile as Korea's fastest-growing unicorn and placing it alongside peers like Line, Daumkakao, Nexon, Com2Us, and Coupang. The company leverages its Yello Mobile Service Incubating Center for member development, design, marketing, and operations support to portfolio startups, fostering a startup culture amid its scale while contributing to Korea's M&A ecosystem. |
| Nov 2014 | Undisclosed stage | Formation 8 (lead) | $100M | $1B | Yello Mobile, a Korea-based mobile media company founded in August 2012, raised $100 million from Formation 8 in a funding round announced on November 10, 2014, at a $1 billion post-money valuation, marking it as one of Korea's early unicorns alongside companies like Line, Daumkakao, and Coupang. The company operates across verticals including mobile shopping, advertising, travel, O2O services, content, and media, using the capital primarily for acquiring more mobile app startups throughout Asia (excluding China) and for marketing efforts. Its portfolio at the time included around 50 startups, such as Indonesian price comparison site PriceArea and Seoul-based AlarmMon, with a strategy requiring founders to stay on for 3-5 years post-acquisition. This round brought Yello Mobile's total funding to $176 million. The company had previously raised funds to consolidate over 80 startups into a mobile apps business serving 18 million users by late 2015, though the 2014 raise focused on expansion in SMATO (Shopping, Media, AdTech, Travel, Offline-to-Online) verticals. CEO Sanghyuk Lee emphasized continuous acquisitions in these areas, positioning Yello Mobile as a mobile ecosystem builder in Asia. Later developments included a $47.2 million convertible debt round in December 2015 led by Formation 8 at a $4 billion valuation, bringing total raised to nearly $210 million, with plans for further funding. Yello Mobile aimed for an IPO in 2015 but shifted focus amid growth challenges, eventually facing declines despite early hype around its startup conglomeration model. |
Who has invested in Yello Mobile?
3 investors have backed Yello Mobile across its funding rounds, including Formation 8, SBI Investment and Macquarie Asset Management.
Lead investors include Macquarie Asset Management, SBI Investment and Formation 8.
Yello Mobile Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 United States | 2 | Lead | Nov 2014 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Yello Mobile
Yello Mobile has acquired 4 companies to date.
Last acquisition by Yello Mobile was on May 22nd 2015. Yello Mobile acquired Gushcloud International for undisclosed valuation.
Latest Acquisitions by Yello Mobile
| Description | Gushcloud International is a Singapore-headquartered technology company specializing in influencer marketing, entertainment, and commerce. It manages digital talent through four divisions: Gushcloud Agency for brand activations, Gushcloud Entertainment for consumer brand building, Gushcloud Studios for content production across YouTube, Instagram, TikTok, and other platforms, and GC Live for live commerce shows targeting Southeast Asia. The firm maintains 11 offices spanning Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, Korea, Japan, Greater China, Australia, and the United States. | Adplus is a Jakarta-based digital advertising network targeting the Indonesian market. Its services encompass display banners, search engine marketing, social media ads, and SEO optimization on performance-based models. Adplus operates Indonesia's largest ad network with coverage on premium sites, mobile apps, and video platforms, delivering measurable results for brands in e-commerce, finance, and consumer goods sectors. | RecoBell is a Seoul-headquartered big data analytics firm delivering cloud-based recommendation engines for Korean e-commerce platforms. Its services encompass personalized product suggestions, app push notifications, omnichannel marketing, and customer communication tools. RecoBell powers personalization for major retailers like Coupang and 11Street, processing petabytes of transaction data daily. | PriceArea is a shopping search engine launched in 2010 for Indonesia and Singapore. It connects users to local stores, online retailers, and marketplaces with side-by-side comparisons, product details, reviews, merchant ratings, store locators, and advertising tools. Categories span electronics, fashion, and groceries across thousands of merchants. |
| HQ Country |  |  | | |
| HQ City | Singapore | Jakarta | Seoul | Singapore |
| Deal Date | 22 May 2015 | 3 Mar 2015 | 1 Sep 2014 | 5 May 2014 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Investments by Yello Mobile
Yello Mobile has invested in 2 companies to date.
Latest investment by Yello Mobile was on April 9th 2014. Yello Mobile invested in Malang Studio in their $2M Seed round.
Latest Investments by Yello Mobile
| Description | Malang Studio is a Seoul-based Korean developer of mobile alarm clock applications featuring cartoon characters. Launched in February 2013, its portfolio includes Start-up Morning Dunkin, which tracks daily eating habits alongside wake-up features, targeting college students with fun, engaging interfaces for better routine management. | Vertical Mass is a data management platform for entertainment and media brands. The San Francisco-based company aggregates fan data from social media, websites, mobile apps, e-commerce, and streaming services, enabling precise audience targeting for advertising and content distribution across web platforms. |
| HQ Country | | |
| HQ City | Seoul | Los Angeles, CA |
| Deal Date | 9 Apr 2014 | 15 Jan 2014 |
| Round | Seed | Seed |
| Raised | $2M | $3M |
| Investors | - | Structure Fund; SV Angel; Demarest Media; Canyon Creek Capital; Michael Kassan; Formation 8 |
| Valuation | undisclosed | $12M |
| EV/Revenue | ||
| EV/EBITDA | ||
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Yello Mobile Competitors
Yello Mobile competitors include listed companies like Kunlun, Yalla Group, VNG Corp. and Life360, and private ones like Voodoo and Patreon.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Paris | Private | $437M | - | $2B | 4.5x | |
 China | Publicly listed | $1.2B | ($230M) | $8.3B | 5.7x | |
 UAE | Publicly listed | $342M | $128M | $827M | - | |
 Vietnam | Publicly listed | $420M | $23M | $657M | - | |
| San Francisco, CA | Private | $80M | - | $4B | 50.0x | |
| United States | Publicly listed | $489M | $32M | $3.3B | 5.0x |
Yello Mobile Public Comps
Yello Mobile is still privately-owned, but its public comps include JOYY, Kingsoft, G-bits, Koei Tecmo, Talkweb Information Systems, Life360, NCsoft, Kingnet Network, Strive and Grindr.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.1B | $160M | 1.2x | 1.1x | 16.3x | 11.2x | |||
| $1.4B | $441M | 1.0x | 0.9x | 3.2x | 5.0x | |||
| $925M | $371M | 3.3x | 3.1x | 8.3x | 8.1x | |||
| $568M | $300M | 5.3x | 5.4x | 10.0x | 12.5x | |||
| $473M | $27M | 9.7x | - | 168.4x | - | |||
| $489M | $32M | 6.4x | 5.0x | 97.0x | 25.6x | |||
| $1.1B | $368M | 1.7x | 1.1x | 5.0x | 5.5x | |||
| $794M | $299M | 5.5x | 3.9x | 14.7x | 10.8x | |||
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Common questions about Yello Mobile
| When was Yello Mobile founded? | Yello Mobile was founded in 2012. |
| Where is Yello Mobile headquartered? | Yello Mobile is headquartered in South Korea. |
| Is Yello Mobile publicly listed? | No, Yello Mobile is a private, VC-backed company. |
| What is Yello Mobile's valuation? | Yello Mobile was last valued at $4B in its undisclosed-stage round in November 2016. |
| How much funding has Yello Mobile raised? | Yello Mobile has raised $187M across 4 funding rounds. |
| What was Yello Mobile's last funding round? | Yello Mobile's last funding round was a $10M undisclosed-stage round in November 2016, led by Macquarie Asset Management. |
| Who are Yello Mobile's investors? | Yello Mobile's investors include Formation 8, Macquarie Asset Management and SBI Investment. |
| Which companies are comparable to Yello Mobile? | Companies comparable to Yello Mobile include Voodoo, Kunlun, Yalla Group, VNG Corp., Patreon and Life360. |
| How many companies has Yello Mobile acquired? | Yello Mobile has acquired 4 companies, including Gushcloud International, ADPLUS IND, RecoBell and PriceArea. |
| How many companies has Yello Mobile invested in? | Yello Mobile has invested in 2 companies, including Malang Studio and Vertical Mass. |
| What was Yello Mobile's last investment? | In April 2014, Yello Mobile invested in Malang Studio's $2M seed round. |
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