[Exclusive] Yanolja Plans to Acquire Dodo Point for 16 Billion KRW

[Asia Economy Reporter Lee Seon-ae] Yanolja is pursuing the acquisition of DodoPoint.

According to the investment banking (IB) industry on the 26th, Yanolja and Spoqa, the operator of DodoPoint, are in acquisition negotiations. The main point is to acquire only DodoPoint, excluding other divisions such as Spoqa's DodoCart. The acquisition amount is reported to be under discussion around 16 billion KRW. The acquisition negotiations are reportedly in the final stages, with plans to complete the contract within 1 to 2 weeks. An internal source from Yanolja hinted, "Discussions are actively underway at the working level and it is practically at the confirmation stage."

DodoPoint is Spoqa’s store customer management and integrated point agency service platform (points are accumulated through tablets). It has ranked first in tablet-based customer management services for eight consecutive years. As of September, the total number of users reached 25.8 million, with 25,493 affiliated stores nationwide. Regarding the acquisition of DodoPoint, Yanolja’s public relations office officially stated, "We cannot confirm the facts."

A Spoqa representative said, "We are in discussions with multiple operators including Yanolja," adding, "Nothing has been finalized yet," as an official position.

The IB industry views the possibility of the deal’s success as high because Yanolja and DodoPoint have had a long-standing cooperation. Yanolja signed a business agreement with DodoPoint in 2015. The purpose was to enable customers visiting Yanolja’s affiliated stores to more easily accumulate and use points. Through the business partnership between Yanolja and Spoqa, DodoPoint’s affiliated industries expanded from the F&B sector to the lodging industry.

After acquiring DodoPoint, there is also a possibility of utilizing the Carry Protocol for Yanolja’s own points. An internal source from Yanolja hinted, "We are also considering the option of applying the Carry Protocol to our own points."

The Carry Protocol is a platform that connects stores and consumers using blockchain technology. It was developed by Spoqa’s founding team. By partnering with Spoqa, it manages integrated payment data for more than 25,000 stores and over 25 million consumers of DodoPoint. Spoqa’s co-CEOs Choi Jae-seung and Son Seong-hoon also jointly serve as representatives of the Carry Protocol. However, regarding the possibility of utilizing the Carry Protocol, Yanolja’s public relations office stated, "That is not true."