BUSINESS

Kakao, K Cube Venture to invest W30b in emerging game start-up

By Kim Young-won
  • Published : Jul 19, 2016 - 13:34
  • Updated : Jul 19, 2016 - 16:35
[THE INVESTOR] Mobile messenger operator Kakao and K Cube Venture, an early-stage venture capital, will jointly invest 30 billion won ($26.4 million) in Shiftup, a game company.

Shiftup was established by art director Kim Hyeong-tae, who participated as an art director in the development of mobile game “Blade & Soul.” The game start-up has recently received the limelight with a hit trailer for mobile game “Destiny Child” which it is currently developing with game firm Nextfloor. Well-known illustrators and musicians at home and abroad have participated in the project for the game, Kakao said.
Destiny Child


The recent investment announcement is part of Kakao’s initiative to grow competitive game start-ups. The mobile messenger firm has made rounds of investment including those in mobile role-playing game developer KOKOMO Games and social network game developer V8.

“Kakao will spare no effort to support promising game start-ups to offer better game titles for Kakao’s game platform users,” said Nam Goong-hoon, the executive vice president of Kakao’s gaming business.

By Kim Young-won (wone0102@heraldcorp.com)