Kakao to acquire Croquis from Altos Ventures and Stonebridge Capital for $900m.

Kakao, an internet company, agreed to acquire Croquis, the operator of fashion shopping platform ZigZag, from Altos Ventures, a venture Capital firm, and Stonebridge Capital, an alternative investment firm, for $900m. “ZigZag's high competitiveness and potential for growth have already been proven in the fashion e-commerce market. Utilizing the global content and influential following that Kakao has, we anticipate [the new venture] will become a global fashion platform by expanding the service to many Asian companies including in China and Japan," Bae Jae-hyun, Kakao Executive Vice President.