Stay updated with breaking news from அதனால் சரி ஹான். Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Naver’s US$600 million acquisition of Wattpad, announced early this year, is completed just as potential competition arrives from Amazon’s new Kindle Vella and Seoul’s Kakao. In Seoul, a line of bus passengers and their cell phones during the coronavirus COVID-19 pandemic. Image – Getty iStockphoto: Wonseok Jang South Korea’s Kakao Is Also a Buyer: Radish and Tapas In January, as you’ll recall, it was announced that the Toronto-based Wattpad was to be acquired by Naver, a South Korean Internet search engine conglomerate, the home of Webtoon, a digital comics platform. In its messaging overnight (May 10), the Canadian company has reiterated its earlier citation of the acquisition being a cash and stock transaction valued at more than $US600 million. It also restates that Wattpad’s co-founders Allen Lau and Ivan Yuen will continue their direction of Wattpad, and that the company will remain based in Canada. Lau, who is CEO, is to report to the Jun-koo ....
Wattpad co-founders Allen Lau (left) and Ivan Yuen Naver, the South Korean internet conglomerate that owns digital comics platform Webtoon, has completed its acquisition of Canada-based digital storytelling platform Wattpad. The US$600m deal, which was announced early this year, aligns Wattpad with Webtoon, with the aim of bringing more new, diverse voices to screens and bookstores around the world. Wattpad will remain headquartered in Canada under the continued leadership of co-founders Allen Lau and Ivan Yuen. Lau, who is also CEO, will report to Webtoon CEO Jun Koo Kim. As part of Naver, Wattpad will focus on continued growth and innovation, expanding its teams and developing new initiatives to reward writers on the platform. ....
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. ....
TORONTO - One of Canada's most prominent technology darlings is being sold to a South Korean internet conglomerate in a US$600-million deal.Toronto-based on ....
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. ....