Kakao Corp—South Korea’s largest internet conglomerate is planning to repeat its ICO. This is after the crypto unit of the company— Ground X netted $90 million from investors from a previous ICO.
Kakao Corp to Raise Another $90 Million
The plan to raise another $90 million is going to be overseen by Klaytn, the blockchain platform which is responsible for Ground X. The firm has the plan to raise the investment as soon as this week.
Late last year the South Korean conglomerate, announced plans to raise $300 million for the development of its own token.
The CEO of Ground X, Jason Han, stated that IDG Capital, Cresendo Equity Partners and Translink Capital were some of the venture capital and private equity funds expected to participate in the upcoming ICO round.
It has also been revealed that Chinese travel agency Zanadu, Game developer Wemade Entertainment Co are few of the 26 companies expected to run their applications on the Klatyn platform.
The CEO also made it known that Kakao is likely to add its own services to the…