South Korean mobile operator acquires pet-friendly accommodation platform
LG Uplus has invested in 3 different pet care projects this year.
The third-largest wireless carrier in South Korea, LG Uplus, has reportedly acquired a local pet service start-up called Along for an undisclosed amount.
The company offers an “Airbnb-like service” for pets by allowing pet parents to search for and reserve pet-friendly accommodations in luxury homes or with large lawns.
According to local media, this is the telecom giant’s third investment in the South Korean pet care market. In June, LG Uplus acquired an online dog community platform, Pupply U, and invested ₩3 billion ($2.3M/€2.1M) in Vetching, a cloud-based electronic medical record platform for veterinarians.
Focus on pet tech
LG Uplus has been quick to notice Koreans’ preference for pets by strategically shifting focus to pet-tech investments. The firm reportedly wants to target a $900 million (€829M) corporate value by 2027.
In 2022, the company launched an interactive app called PetToy, offering engagement opportunities with pets through smartphones.
The firm also launched ForDong, a platform that offers dog behavior assessments, free consultations with pet training experts and trainer-matching services for behavioral adjustment. Just over a year since its creation, it has reached 300,000 subscribers.
In 2022, South Koreans spent the most on their pets in 4 years reaching ₩353,000 ($269/€244) per person.
Share this story:
