Shares of Interpark tumbled Wednesday on reports that the e-commerce company failed to attract much interest in a sale of a large stake in the company.
SoftBank’s latest $1.7-billion bet on accommodation reservation start-up Yanolja underscores the investment company’s growing appetite for Korea-based start-ups as more high-tech firms manage to scale up their business during the pandemic.
Yanolja, an online booking company, has received a $1.7 billion investment from SoftBank Vision Fund 2.
Citibank Korea has signed a memorandum of understanding with Yanolja, an online hospitality company.
Korea’s biggest reservation app for accommodations and leisure activities Yanolja is planning to go public next year, the company announced Friday.
Internationally Yanolja operates mainly as a business-to-business provider of its hotel property management system (PMS), the software that hotels use to manage everything from reservations to housekeeping.