streetAsia s premium subscription service Unlock your competitive advantage in a rapidly evolving landscape. Our packages come with exclusive access to archive content, data, discount on summit tickets & more. Be a part of our growing community now. SUBSCRIBE NOW
Singapore Reporter/s
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digi
Wattpad to Be Acquired for $600 Million by Parent Company of Webtoon lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.
Wattpad Storytelling App Sold for $600 Million to South Korean Firm Naver Etan Vlessing
The Canadian storytelling app Wattpad has unveiled a deal to be acquired by Naver, the South Korean Internet conglomerate and home of Webtoon, the global digital comics platform as part of a cash and stock deal valued at $600 million.
The acquisition, when completed, will combine Wattpad and Webtoon into a platform with a joint global monthly audience of 160 million users. Wattpad will remain headquartered in Toronto under the leadership of co-founders Allen Lau and Ivan Yuen, and its board of directors offered its approval for the friendly takeover by publicly-listed Naver.
Wattpad, the storytelling platform, is selling to South Korea’s Naver for $600 million
Wattpad, the 14-year-old, Toronto-based, venture-backed storytelling platform with reach into a number of verticals, is being acquired by Naver, the South Korean conglomerate, in a $600 million cash-and-stock deal.
Naver plans to incorporate at least part of the business into another of its holdings, the publishing platform Webtoon, which Naver launched in 2004, brought to the U.S. in 2014, and that features thousands of comic strips created by its users. It also has a huge audience. According to Naver, Webtoon was averaging more than 67 million monthly users as of last August.