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Kakao Mobility Corp., has acquired South Korea's No. 1 pet taxi service, Pet Me Up, in a move to broaden its business portfolio.
A subsidiary of mobile giant Kakao Corp., Kakao Mobility will set up a pet taxi division and offer the service via its mobility platform, Kakao T.
Most of Pet Me Up operator Natuspin's employees, including its founder Park Na-ra, will join Kakao Mobility to spearhead the division.
Kakao Mobility will become the official provider of Pet Me Up on March 22.
While Pet Me Up's standard fare that begins at 11,000 won is higher than general taxis, the service is a huge hit among pet owners as it allows them to use taxis without putting their pets in carriers. So far, Pet Me Up has been used over 50,000 times since it was founded in 2016.
South Korea had 5.91 million households with pets as of 2019 and its pet market is expected to reach 6 trillion won in 2027.
Kakao Mobility, whose main businesses are franchise taxi and designated driving services, has steadily been expanding into various areas, including car wash, parking, and train ticket reservation services.
