The Ideal Union of Product and Platform - Daum Kakao acquires Tangram Design Lab
SEOUL, Korea, June 9, 2015 /PRNewswire/ -- Daum Kakao, the mobile lifestyle platform company behind Kakao Talk, announced the acquisition of Tangram Design Lab, taking a 51% stake in the UX design agency. Tangram Factory, the partner company and maker of Smart Rope, will continue to operate as an independent brand, with the support of Daum Kakao.
With the acquisition of Tangram Design Lab, Daum Kakao has a long-term partner in IoT devices and hardware products, combining the best in product design and development with one of the world's most powerful platforms.
"Tangram Design Lab is an ideal partner in our vision to 'Connect Everything.' Their capabilities in strategy and concepting, design and development, and branding and marketing make them a clear standout," said John Park, head of Daum Kakao's K-Venture Group Co., Ltd. Last January, K-Venture Group Co., Ltd. announced a $100 million fund to invest in promising startups.
Park also cited the recent success of Tangram Factory's Smart Rope as a prime example of innovation in the Internet of Things (IoT) space. Smart Rope is an LED-embedded jump rope that displays your fitness data in mid-air as you work out, pairing with your smartphone to provide accurate, relevant fitness inight. Smart Rope tripled its funding goal on Kickstarter, achieving full funding in 6 days, and was named one of the most innovative products at Mobile World Congress in Barcelona. Tangram Factory will release Smart Rope in September.
"We're excited to announce a new chapter for Tangram," said Deokhee Jeong, CEO of Tangram Design Lab. "We'll continue to create innovative, user-centric experiences in mobile and beyond. Daum Kakao is a true industry leader, and we've always admired their ability to create products and platforms that people can't live without. Together, there's no end to the opportunity we see across users and devices, as well as markets and geographies."
Daum Kakao (KOSDAQ: 035720) is a global mobile lifestyle platform company with services spanning messaging, mail, search, news, advertising, gaming, e-commerce, music, maps and more. Based in South Korea, Daum Kakao reaches consumers, businesses and others via its portfolio of popular assets: KakaoTalk, KakaoGame, Daum Mail and Daum Cafe, among others. In line with the vision to "Connect Everything" Daum Kakao plans to center its focus on creating an environment of real-time interconnectivity, thereby enriching lives and delivering value to consumers, businesses, partners and shareholders alike. Daum Kakao is committed to building new experiences by harnessing its successful 20-year legacy of innovation as an Internet and mobile services leader. More information is available at www.daumkakao.com.
Tangram Design Lab was established in 2008 as a multi-disciplinary agency, focused on UX and product design. Tangram's work has been featured in iconic products from some of the world's most esteemed brands, garnering every major award in the design industry. www.tangramdesignlab.com
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SOURCE Daum Kakao
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