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Telecom carrier seeks to offload entire 7.3% holding in Zeta operator Gain of more than 10 billion won expected after three years
SK Telecom (017670.KS) is moving to sell its entire stake in Scatter Lab, the operator of the artificial intelligence chatbot Zeta, about three years after investing 15 billion won ($10.5 million) in the startup in 2023. Based on the price under discussion, the carrier stands to book a gain of more than 10 billion won. The move is seen as an attempt to distance itself from a recent controversy over content on Zeta deemed harmful to minors, while raising funds to concentrate resources on core businesses such as AI data centers.
SK Telecom has been in contact with potential investors to dispose of its entire 7.3% stake in Scatter Lab, according to venture capital industry sources on the 12th. The company is in talks with JB Investment, a domestic venture capital firm, and Atinum Investment, an existing shareholder, about the sale, the sources said.
SK Telecom acquired 107,578 Scatter Lab shares at about 139,434 won apiece in April 2023. The sale price now under discussion is around 240,000 won per share, more than 70% above the purchase price. A full sale would generate an investment gain of more than 10 billion won.
Industry watchers say the sale reflects a strategic calculation to reduce the burden stemming from the controversy over sexually suggestive content on Zeta and material deemed harmful to minors, while focusing resources on core businesses such as the AI data centers the group is pursuing.
"Scatter Lab's valuation has risen sharply since the investment, so they likely judged this to be the right time to realize returns," one investment industry official said. "It is probably not unrelated to the recent controversy over sexually suggestive content on Zeta."
Original reporting by Ryu Seok for Seoul Economic Daily.
AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.
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