Yello Mobile

Yello Mobile is a South Korean mobile software company based in Seoul.

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. Yello Mobile's approach was new for South Korea in 2012. It was also considered one of South Korea's first unicorn startup companies. Over a period of 6 years, the company acquired over 94 startup companies in their SMATO categories.
Revenue increased from 68 million won in 2012 to 527 billion won in 2017. It also faced lawsuits and with investors over Lee borrowing from partners and affiliates without paying them back. The company pulled their initial public offering from the KOSDAQ, and in February 2019, the company announced that Lee had resigned as CEO amidst rumors of bankruptcy proceedings and embezzlement accusations.