Asian Stocks Rally on Ceasefire Hopes and Bargain Buying 
Pony.ai, Uber, and Verne Launch Europe's First Commercial Robotaxi Service in Zagreb 
FedEx Pilots and Union Reach Tentative Agreement on 40% Pay Increase 
Rio Tinto's California Boron Assets Attract Over a Dozen Bidders, Valued at Up to $2 Billion 
Dollar Stabilizes Amid Fragile US-Iran Ceasefire as Markets Watch Hormuz Strait 
Trump Slams Iran Over Strait of Hormuz Oil Restrictions Amid Fragile Ceasefire 
BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
Gulf Ceasefire Cracks Rattle Asian Markets and Push Oil Prices Higher 
Asian Markets Retreat as Gulf Crisis Fuels Oil Surge and Inflation Fears 
China's Inflation Data Misses Forecasts as Consumer Prices Slow in March 
Japan Consumer Confidence Drops Sharply Amid Rising Fuel Costs and Middle East Tensions 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
Gold Prices Dip Amid Middle East Uncertainty and Inflation Fears 
Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
U.S. Futures Slip as Iran Ceasefire Uncertainty and CPI Data Weigh on Markets 
Pilots Fear Retaliation for Refusing Middle East Flights Amid Ongoing Conflict 
Kakao Mobility, the mobility arm of Kakao Corp., revealed on Wednesday, March 22, that it had acquired Splyt, a London-based ride-hailing startup firm. The acquisition move is part of the company’s strategy to do business outside of South Korea.
As per Yonhap News Agency, Kakao Mobility did not divulge information regarding the agreed financial terms of its deal with Splyt, which was founded in 2015. It is a platform that connects transportation services, including food delivery and ride-hailing, for traveling and public transportation.
Prior to the acquisition, Kakao Mobility and Splyt have already been working together. They have partnered with mobility and hotel reservation service apps such as Grab, Uber, Trip.com, and Booking.com. They have also teamed up with Alipay and WeChat to link their users to various mobility services in 150 countries around the world.
Locally, Kakao Mobility is already known for its wide range of mobility service offerings, including tax-hailing, parking and navigation, designated driver, which is popular in South Korea, and electric bike hire. With its acquisition of Splyt, the company said it will use its assets to push its expansion in the global business and its target, for now, are Europe and Asia.
It was noted that the firm is already operating in Guam and Laos, and with Splyt in its portfolio, it can easily bring its mobility services to other nations. This deal is said to be Kakao Mobility’s first overseas acquisition since its split from its parent company, Kakao Corp.
"The acquisition of Splyt is Kakao Mobility's first overseas purchase deal," Kakao Mobility said in a statement. "It will help us secure a foothold to tap into the global mobility market. The acquisition will help Kakao Mobility tap into the European market based on Splyt's taxi-hailing network and deal with growing outbound tourist demand from China."
Korea Joongang Daily also quoted Kakao Mobility’s chief executive officer, Ryu Gung Seon, as saying, “As Kakao Mobility established a new partnership with Splyt based on efforts to achieve a win-win relationship and the platform technology capabilities, we will take a step forward in our journey to the global market through a close cooperation with Splyt.”
