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Kakaotalk which is top level of mobile instant messenger in Korea has evolved from one-sided market to two-sided market as a biggest mobile service platform. The minimum necessary condition of two sided market is to have cross network externality in the platform. The platform provider commonly uses instruments of cross-subsidization to strengthen the cross network externality. Kakaotalk is the first mobile service platform progressed to two-sided market because it has not only secured cross network externality but also made full use of instruments of cross subsidization effectively. This is a exploratory case study focusing on Kakaotalk that has been evolved to two-sided market with cross network externality. This study verified the following research thesis. First, it verified a mobile service requires constant growth stage when it develops two-sided market as platform. Second, it verified if a mobile service utilizes instruments of cross-subsidization in order to enforce cross network externality which is necessary condition of the two-sided market through exploratory case study on detailed event analysis of Kakaotalk. The study on two-sided market of mobile service platform focusing on the Kakaotalk case proposes what a mobile service is to be required to evolve from one-sided market to two-sided market as constant platform. In particular, this study investigated strategic usage of instruments of cross-subsidization for securing cross network externality and how the instruments of cross-subsidization can intensify the cross network externality.