The long-awaited partnership between Mobile Commerce company, Bango, and South Korean Data Business firm NHN that was scheduled to be announced has been completed on April 16. Reports in the Asian country states that the Data Business firm invested 4.7% for a shareholder’s place in Bango and a further 60% in its subsidiary firm Bango deep. With this new development, Bango retained 40% of the shares in its subsidiary firm and traded the new partnership firm on April 16.
By investing in the data business firm, NHN stands to benefit from the increasing growth in the global commerce market while strengthening its initial monetization relationship, which kicked off in October 2019. The partnership provides the framework for a long term relationship between NHN and Bango to provide customers with data insights that seek to provide solutions to data problems in commerce. NHN boasts maximum experience in payments, entertainment, business industries across Asia and would look to bring that to the table as the two firm partners up. This service will allow Bango customers and clients to derive maximum satisfaction from their investment in terms of monetization with the firm. With NHN being the brains of the partnership, Bango is expected to create the platform for the merger between the two firms.
Bango CEO, Paul Larbey said he hopes that this partnership will bring their customers closer while helping to simplify all their choices on the platform to give them better services. He was quoted as saying to reporters that “The Bango strategy is to become the technology behind every purchase choice, helping our partners to build more profitable and longer-term commercial relationships with their customers. This closer linkage with NHN enables Bango to capitalize on emerging technological and consumer trends and apply more primary research to the continuous development of our payments and data monetization products.”
In the same vein, Jinsoo Lee, Director at NHN, gave a thumbs up to the partnership and pledged to provide Bango customers with a feel of experience and expertise in various fields across the data firm. Jinsoo Lee was quoted as saying, “With our experiences and expertise in data for gaming, payment, and digital marketing, we empower our customers to innovate by creating and utilizing the most valuable data for their businesses. From these experiences, we have learned that teaming up with technology leaders like Bango is crucial for continuing to grow ahead of the market through data-led solutions.”