Kakao Mobility secures strategic investment from Google

March 31, 2021 8:50 PM EDT

FILE PHOTO: The logo of Google is seen on a building at La Defense business and financial district in Courbevoie near Paris, France, September 1, 2020. REUTERS/Charles Platiau

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SEOUL (Reuters) - South Korea's Kakao Mobility has secured a strategic investment from Google of 56.5 billion won ($50.1 million), the transportation firm and parent Kakao Corp said on Thursday.

Kakao Mobility's app, Kakao T, has 28 million registered users, and offers South Korea's most popular taxi-hailing service as well as other transportation services.

Carlyle Group Inc agreed to invest $200 million earlier this year, valuing Kakao Mobility at 3.42 trillion won.

(Reporting by Joyce Lee; Editing by Tom Hogue)

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