Kakao acquires Croquis (Zigzag) — merged with Kakao Commerce style division
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- —
- Stake
- —
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- Croquis (Zigzag) — merged with Kakao Commerce style division · Fashion e-commerce platform
- Buyer
- Kakao · SI
- Seller
- Croquis shareholders (Altos Ventures, Stonebridge, etc.)
- Structure
- —
- Announced
- Apr 14, 2021
- Closed
- Jul 1, 2021
- Stage
- Closed
Target
Croquis operates 'Zigzag', a women's fashion platform launched in 2015 aggregating over 4,000 online malls and brands, with 2020 GMV of KRW 750bn and a 2021 target of KRW 1tn. Kakao Commerce's style division was spun off and merged into it, launching as Kakao Style on 2021-07-01.
Deal rationale
Kakao CIO Bae Jae-hyun said Zigzag had proven high growth and competitiveness as a fashion commerce platform for the MZ generation, and Croquis CEO Seo Jung-hoon said combining Zigzag's fashion big data with Kakao's technology would create strong synergies. Kakao said it would solidify Zigzag's No.1 position in Korean fashion platforms and expand into Asian markets such as Japan and China. E-Today reported that existing investors including Altos Ventures and Stonebridge would receive Kakao shares in proportion to their stakes, with the company's valuation said to approach at least KRW 1tn.
Press coverage
- 카카오 보도자료 (2021-04-14): “카카오커머스의 스타일사업부문을 인적분할해 기술 기반 패션 플랫폼 ‘지그재그’를 운영하는 크로키닷컴(주)(대표 서정훈)과 합병한다고 14일 밝혔다”
- 이투데이 (2021-04-09): “이르면 다음 주 지그재그를 운영하는 크로키닷컴의 최대주주에 오른다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.