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Kakao Games

Global publisher and developer of games

Overview

Kakao Games develops and publishes video games for PC, mobile, and VR, with a mix of in-house titles and games from external developers for a global audience. Its games earn revenue through in-game purchases and downloads, and it uses KakaoTalk’s large user base to market games and build communities. The company stands out by integrating with Kakao’s messaging platform, publishing across multiple platforms, and growing its catalog through acquisitions of studios like XLGAMES, Lionheart Studio, and Ocean Drive Studio to ensure a steady pipeline of titles. Its goal is to grow a globally licensed catalog of popular online games, maintain recurring revenue, and expand its international footprint while strengthening development capabilities.

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About Kakao Games

Simplify's Rating
Why Kakao Games is rated
C+
Rated B on Competitive Edge
Rated C on Growth Potential
Rated C on Differentiation

Industries

Consumer SoftwareEntertainmentGaming

Company Size

201-500

Company Stage

IPO

Headquarters

Seongnam-si, South Korea

Founded

2015

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What believers are saying

  • Q2 2026 revenue reached 75 billion won, and marketing resets for October launches.
  • Realm of Dokkaebi, ArcheAge Chronicles, and Dungeons Arise create a packed late-2026 pipeline.
  • ME2ON adds 2025 revenue of 120.9 billion won and 80% overseas sales.

What critics are saying

  • Q2 2026 operating loss hit 23 billion won after 35% revenue decline.
  • Mobile revenue fell 47.8% as legacy titles erode and new launches slip.
  • If Q4 2026 titles miss, Kakao Games burns cash and forces parent support.

What makes Kakao Games unique

  • KakaoTalk gives Kakao Games distribution and community reach across Korea.
  • September 2026 ME2ON purchase adds profitable casual and social-casino scale.
  • Kakao-controlled studios XLGAMES and Lionheart keep premium MMORPG IP inside the group.

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Funding

Total Funding

$703.5M

Above

Industry Average

Funded Over

4 Rounds

Post IPO Equity funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Equity Funding Comparison Coming Soon

Stock Price

Growth & Insights and Company News

6 month growth

-12%

1 year growth

-12%

2 year growth

-12%
Yahoo Finance
Nov 7th, 2026
Kakao Games Q3 revenue falls 46% to $50.1M as it bets on Realm of Dokebi and Odin Q

Kakao Games reported third-quarter revenue of KRW 69.1 billion, down 46% from a year earlier and 8% from the previous quarter, as it had no new releases. The operating loss widened by KRW 3.3 billion from the prior quarter to KRW 26.3 billion. PC game revenue fell 57% to KRW 18.5 billion, and mobile game revenue fell 40% to KRW 50.6 billion. Operating expenses dropped 28% to KRW 95.4 billion. The company is investing KRW 99.6 billion for a 39.6% stake in Me2On, which holds about KRW 100 billion in net cash. This should cut consolidated net borrowing by roughly KRW 30 billion. The chief financial officer said the third quarter should mark the bottom. Kakao Games expects revenue to rebound in the fourth quarter on Realm of Dokebi and Me2On, and targets an operating profit in the first quarter of 2027 after Odin Q launches in January.

Inven Global
Nov 4th, 2026
Dokkaebi's World adds 9,000-player dimensional Conquest.

Dokkaebi's World adds 9,000-player dimensional Conquest. Nov 3, 2026 On the 4th, Kakao Games added 'Dimensional Conquest,' a server-versus-server battle mode featuring up to 9,000 participants, to Dokkaebi's World. This update also includes the minigame 'Gyeongdan Making' and a cosmetic feature called the 'Cushion System.' In 'Dimensional Conquest,' three servers belonging to the same group compete for regional territory. It is a large-scale PvP content mode where up to 3,000 players per server can participate, taking place every weekend. The first season is a pre-season, running a total of three times starting with its first reveal at 10:00 PM on the 7th and continuing through the 8th. Players can participate in 'Dimensional Conquest' at designated times without prior application procedures. Once the battle ends, rewards such as the 'Special Dosul Shard Selection Box' are distributed based on each server's performance and individual contributions. 'Gyeongdan Making' is a minigame where players drop gyeongdan (rice cakes) into a box. It plays by merging two gyeongdan of the same type to create a larger one. Achieving specific scores or meeting ranking conditions at the end of the season grants rewards such as the 'Watermelon Mount' and 'Special Dosul Skin.' The accompanying 'Cushion System' is a cosmetic feature displayed when a character is in the 'sit' state. Developed by Supercat and published by Kakao Games, Dokkaebi's World is a 2.5D MMORPG. Based on the Naver web novel and webtoon IP 'Chronicles of the Demon-Slaying Cultivator,' the game combines 2D pixel characters with 3D backgrounds. According to Kakao Games, Dokkaebi's World reached No. 1 on Google Play's top-grossing chart on October 13, just five days after its official launch, and maintained that ranking for approximately three weeks. On the Apple App Store, it peaked at No. 2 on the top-grossing chart. Myung-soo Cha, Head of Business at Kakao Games, said, "This 'Dimensional Conquest' is content that expands the competitive experience players built on individual servers into a larger-scale battle. Players will be able to experience new fun as server members work together to set strategies and achieve goals on a battlefield with up to 9,000 participants." Originally written in Korean, this article was translated with AI assistance and edited by a native English-speaking editor. Every translation is reviewed by its editorial team before publication. [Read Original]

Inven Global
Nov 4th, 2026
Kakao Games reports Q3 revenue of 69.1 billion won, operating loss continues.

Kakao Games reports Q3 revenue of 69.1 billion won, operating loss continues. Nov 3, 2026 Kakao Games Corp. announced on the 4th that it recorded consolidated revenue of approximately 69.1 billion won and an operating loss of approximately 26.3 billion won for the third quarter of 2026. Revenue decreased by approximately 46% year-over-year and approximately 8% quarter-over-quarter. Under Korean International Financial Reporting Standards (K-IFRS), revenue for the comparison periods stood at 127.5 billion won in Q3 2025 and 75.0 billion won in Q2 2026. Operating losses for those periods were 5.4 billion won and 23.0 billion won, respectively, extending the company's loss streak into this quarter. The company explained that a lack of new releases and the downward stabilization of revenue from existing titles affected earnings. By business segment, mobile game revenue came in at approximately 50.6 billion won, while PC online game revenue reached approximately 18.5 billion won. Mobile game revenue dropped by approximately 40% year-over-year and approximately 4% quarter-over-quarter. PC online game revenue decreased by approximately 57% year-over-year and approximately 17% quarter-over-quarter. Kakao Games is seeking a rebound through upcoming new releases and international service preparations. On December 12, the company will officially launch the PC online action-slash game Path of Exile 2, and it is preparing to simultaneously release the MMORPG Odin Q: Valkyrie's Call (hereinafter Odin Q) in South Korea, Taiwan, and Japan in January 2027. Building on the live service experience of the original Odin and the development capabilities of Lionheart Studio, Odin Q will feature quarter-view combat and large-scale competitive content. For the fourth quarter, the company plans to build on the momentum of World of Dokkaebi, which launched in October. According to Kakao Games, the title rose to No. 1 on Google Play's top-grossing chart within five days of release and has since maintained a top-tier position. Featuring 2.5D pixel graphics infused with traditional Korean aesthetics and a narrative based on the Myeolgwi Sudojeon webtoon IP, preparations for its global service have also begun. Additional lineup reveals include the open-world zombie survival simulator God Save Birmingham, the PC MMORPG ArcheAge S: Strait of Freedom, and the pixel-art collectible action RPG Guardian Maiden. The company plans to continue expanding its IP to global users through new titles across various genres. Under its new management system, Kakao Games is streamlining its business structure while pursuing M&As, strategic investments, and new title publishing agreements. Over the past three months, the company acquired global casual game developer Me2on and made strategic investments in AI backend technology company BackendX, among others, with plans to discover additional promising developers and tech firms. Kakao Games CEO Si-woo Lee said, "We are targeting diverse player segments with clear differentiation points for each IP, once again proving our core competitiveness based on a solid portfolio." He added, "We will pursue new title launches, shareholder returns, and investments to secure new growth opportunities, doing our utmost to ensure these efforts lead to a meaningful rebound." Originally written in Korean, this article was translated with AI assistance and edited by a native English-speaking editor. Every translation is reviewed by its editorial team before publication. [Read Original]

Capsule Computers
Oct 29th, 2026
Zombie survival sim God Save Birmingham open beta test begins next week.

Zombie survival sim God Save Birmingham open beta test begins next week. October 29, 2026 Survive medieval middle-England in next public playtest. Los Angeles, California - October 28, 2026 | Publisher Kakao Games and developer Ocean Drive Studio are excited to announce Beta 2, the next public playtest for upcoming physics-driven zombie survival simulator God Save Birmingham, will begin on 2 November and run until 9 November. Watch God Save Birmingham - Beta 2 Announcement below: Following months of closed playtests, Beta 2 is the second chance for most players to try God Save Birmingham since the beta test that took place this past June. Any of the returning 67,000+ players who checked out God Save Birmingham during Beta 1 will notice a considerable number of changes to the game. During Beta 2, players can attempt to survive the harsh medieval setting with their friends in an alpha build of co-op; a save feature has been added, giving players some extra security while they try to fend off zombies; and there are also plenty of general gameplay upgrades, like more ways to cook, additional items to craft, and new weapons to wield. In addition to new features, Ocean Drive Studio has made numerous tweaks based on player feedback: zombie aggression and general behaviour is now more varied based on the zombie type, clothing provides different levels of warmth for the player depending on the material, and more types of doors and windows can be barricaded or latched. Anyone who would like to jump into the playtest just has to go to the God Save Birmingham Steam page from next Monday and click the "Request Access" button that will be there. They'll then be granted instant access and get to experience a taste of zombie-filled, Middle Ages England. The God Save Birmingham public beta test begins 2 November at 3:00 pm PT / 6:00 pm ET / 11:00 pm GMT and concludes 9 November at 10:00 am PT / 1:00 pm ET / 6:00 pm GMT. About Kakao Games Kakao Games (Co CEOs Taehwan Kim and Siwoo Lee) is a game company specializing in both publishing and development across a wide range of genres, from casual to hardcore titles on PC and mobile. Since its KOSDAQ listing in September 2020, Kakao Games has successfully developed and launched popular titles such as Odin: Valhalla Rising, Uma Musume Pretty Derby and PUBG: Battlegrounds, with multiple global releases on the horizon. Kakao Games remains committed to expanding its portfolio and exploring new opportunities in the evolving gaming landscape. About Ocean Drive Studio Ocean Drive Studio, a subsidiary of Kakao Games, is a company dedicated to developing and servicing games that resonate with global fans who love the same genres that their developers know and are passionate about. The studio gained attention with the release of its first game, the turn-based tactical RPG Lost Eidolons, on Steam, PS5, and Xbox. Building on this success, they have released the second game in the same genre, Lost Eidolons: Veil of the Witch, as well as other titles including the roguelite shooter Section 13. Upcoming games include the physics-based sandbox survival game God Save Birmingham. Ocean Drive Studio aims to deliver unique and engaging gaming experiences to gamers around the world through these diverse game genres. Play Hard Or Don't Play At All!

Inven Global
Oct 29th, 2026
God Save Birmingham second beta begins November 3.

God Save Birmingham second beta begins November 3. Oct 28, 2026 Kakao Games Corp. announced on October 29 that it will conduct the second beta test for God Save Birmingham from November 3 to 10. Anyone can participate via Steam. Developed by subsidiary Ocean Drive Studio, the game saw over 67,000 players participate in its closed beta test last June. The second test incorporates player feedback to improve gameplay and introduce new features. Major additions include alpha-stage co-op play and progress saving. Players can survive together in medieval Birmingham's zombie apocalypse environment. Survival content is expanded with new weapons, craftable items, and various cooking methods. Detailed systems regarding zombies, defensive structures, and clothing have also been updated. Zombies will feature more varied aggression levels and behavior patterns depending on their type, while clothing insulation effects are now differentiated by material. The variety of doors and windows that can be barricaded or locked has also been expanded. God Save Birmingham is an open-world zombie survival simulator set in 14th-century Birmingham, England, and is preparing for launch on Steam Early Access. Players must scavenge for essential supplies such as food and water in a city overrun by zombies and secure a safe shelter. Kakao Games also released a highlight video from the first beta test. Further details regarding the second test are available on the game's Steam store page and Ocean Drive Studio's official YouTube channel. Originally written in Korean, this article was translated with AI assistance and edited by a native English-speaking editor. Every translation is reviewed by its editorial team before publication. [Read Original]

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