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Kakao to buy online novel app Radish for $440m 11 May 2021 / 10:17 H. This undated handout photo provided on May 10, 2021 by Radish shows the online novel app Radish CEO Lee Seung-yoon. -AFP PHOTO / Radish
SEOUL: 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.
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.