Yello Mobile is a South Korean mobile software company based in Seoul.
| Industry | Software industry |
|---|---|
| Founded | 2012 in Seoul, South Korea |
| Founder | Sanghyuk Lee |
| Headquarters | South Korea |
Number of employees | ~3,000 |
| Website | yellomobile |
History
Yello Mobile was founded in 2012 by Sanghyuk Lee. The company began as startup incubator, utilizing a variety of equity-based investments to consolidate software businesses in South Korea.[1] Yello Mobile's approach was new for South Korea in 2012, but since then similar approaches have emerged.[2]
Over a period of 6 years, the company acquired over 94 startup companies in their SMATO (Shopping, Media, Advertisement, Travel and Online-to-Offline) categories.[3]
While revenue increased from 68 million won (US$60,463) in 2012 to 527 billion won (US$468 million) in 2017,[when?] it faced headwinds from lawsuits with investors and financial challenges.[3][4] The company pulled their initial public offering from the KOSDAQ.
In February 2019, the company announced that Lee had resigned as CEO[5] amidst rumors of bankruptcy proceedings and embezzlement accusations.[5][6]