*This content was translated by AI.
Upstage, an AI (artificial intelligence) startup, signed a memorandum of understanding (MOU) with Kakao for AXZ, the operator of the portal "Daum."
According to Upstage on the 29th, the two companies held a board meeting on the same day and approved the conclusion of the agreement. Under the agreement, Kakao will transfer its stake in AXZ to Upstage, and Kakao will acquire a certain stake in Upstage. Currently, AXZ is a wholly owned subsidiary of Kakao.
AXZ was spun off from Kakao in May last year. Since then, it has been pushing for new growth engines to respond to changes in management efficiency and AI industry environment.
Upstage is a startup that develops a huge language model (LLM) 'Solar'. While exploring Solar's business expansion opportunities, he offered to collaborate with AXZ, which has a wide user base and abundant content data. The two companies reached this agreement by agreeing on the need to develop new AI-based services and the possibility of creating synergy.
After the agreement, if the deal is finalized after the main due diligence of the two companies, Upstage plans to upgrade its AI technology based on Daum's content data and combine it with Daum's services to build a next-generation AI platform.
Upstage said, "This combination will also create synergy in the Ministry of Science and ICT's 'Independent AI Foundation Model' construction project."
Kim Sung-hoon, CEO of Upstage, said, "If Upstage's AI technology and the national user base are combined, there will be an environment in which more users can easily and naturally use AI."
AXZ CEO Yang Ju-il said, "We will be able to introduce new AI services at a speed through synergy between the two companies."
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*This content was translated by AI.
