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As Naver closes $754 million CAD acquisition of Wattpad, Allen Lau is looking to scale South Korean internet company Naver Corp. has officially acquired Wattpad for more than $754 million CAD ($600 million USD). With the deal now closed, Toronto-based Wattpad has become a Naver brand alongside WEBTOON, a global leader in webcomics that Wattpad will work closely with moving forward. Wattpad’s core app will continue to operate independently while both content companies explore new ways to collaborate. Wattpad CEO and co-founder Allen Lau will report to WEBTOON CEO Jun Koo Kim. Sources familiar with the deal told BetaKit the final amount of the acquisition may be more than $800 million CAD.

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