Kakao to buy online novel app Radish for $440m
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SEOUL, May 11, 2021 (BSS/AFP) – Online fiction app Radish is being bought for $440 million by South Korean internet conglomerate Kakao, the two firms said Tuesday, making a multi-millionaire of its 30-year-old founder only five years after he set it up.
The deal is one of two acquisitions Kakao announced Tuesday totalling nearly $1 billion as it seeks to expand in English-language markets.
Pay-to-read platform Radish presents serialised storytelling in bite-sized instalments optimised for smartphones, with readers paying around 20 to 30 US cents to access the next episode immediately, or wait for an hour to read it for free.